UK insurer LV= General Insurance has renewed a contract with technology firm Verisk to use its Xactimate and XactAnalysis solutions to improve property claim estimation, management, and settlement in the home market.

The extension, which will be valid for a period of three years, will allow the insurer to use the real-time claims management solution XactAnalysis as well as claims estimation tool Xactimate.

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Xactimate is a cloud-based scoping tool that offers intuitive estimation across multiple platforms. It can be easily connected to claims tracking solution XactAnalysis.

Verisk Claims EU managing director Joe Pendle said: “LV= GI’s renewed commitment is a testament to the excellence of the working relationship the Verisk client services team shares with LV= GI and the capabilities of our claims portfolio.

“We look forward to further developing our strategic partnership and working closely together to add further value to LV= GI claims operations.”

Additionally Verisk has developed various solutions for LV= GI such as a purpose-built Building Contractor Network that allowed LV= GI to manage its growing network of suppliers.

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LV= GI claims director Martin Milliner said: “The capabilities delivered by our partnership with Verisk have been praised by employees, suppliers, and policyholders alike, so expanding this further was a natural decision.

“The Verisk team has consistently demonstrated a first-class level of service, tailoring deployments to solve our business pain points, engaging with both our own team and external suppliers, and providing extensive training and highly responsive support.”

LV= GI has been using Verisk solutions since 2011.