Xactimate® or Symbility? Estimating Software for Restoration Claims

In the restoration field, estimating software plays a crucial role in managing insurance claims and project costs. Two leading solutions are Verisk Xactimate® and CoreLogic Symbility, which are used by both contractors and adjusters. This article explores the similarities and differences between the two options to help you decide which one may be best for your business.

Let’s First Look at Similarities

1. Both are designed specifically for the insurance industry

Each is a specialized software solution that enables estimating for settlement of insurance claims.

2. Both offer a suite of tools and features to help you estimate property damage

With advanced technology right at your fingertips, you’ll be able to work faster and smarter at every job site.

3. Both use a database of pre-set pricing

This built-in-database feature helps you generate estimates speedily for restoration and repair costs.

4. Both come in different versions to give you options

Xactimate® and Symbility can be used on a desktop computer, or on an Apple or Android device. The mobile options guarantee that you will never be tied to your office or a single computer to estimate a claim.

5. Both offer the benefits of cloud computing

Each type of software comes with a cloud-based claims management system.

6. Both integrate with the magicplan app

Xactimate® and CoreLogic Symbility software platforms integrate seamlessly with magicplan mobile software. This means you can efficiently incorporate detailed magicplan sketches and photos into your estimates. This integration streamlines and accelerates documentation, and it also enriches your project data to enhance estimating accuracy.

Here’s a quick look at why magicplan can be helpful:

• It has an easy-to-use interface that empowers everyone on your team to edit plans on their phones or tablets.
• It enables you to automatically measure and draft sketches in real time using a state-of-the-art AR and LiDAR supported mobile workflow.
  
• It also lets you attach annotated job-site photos to your sketch to provide context and clarity.
• Then you can easily export your photo-enriched sketches with the click of a button; these files are ready to be imported into Xactimate or Symbility, eliminating the need for manual data entry. (Send ESX files for Xactimate and FML files for Symbility.)

• The result is a better, faster workflow that leads to more accurate estimating, quicker estimate approvals and more satisfied customers.
• Using magicplan also helps you standardize how estimates are created.

7. Both have reporting capabilities

This means you can send detailed reports to facilitate understanding and faster claim processing.

Now Let’s Consider Some Difference Between the Two Types of Software

1. Market preference

 Xactimate has been considered the “gold standard” for estimating software for several years. And so (no surprise) it is the estimating tool that is used more prominently by insurance adjusters. In fact, it is estimated that around 75% to 80% of adjusters use Xactimate to estimate claim-related restoration work.

2. Differing histories

Xactimate® has a longer history. It was first released in 1986 by Xactware.

Symbility (owned by CoreLogic) was founded in 2004.

3. Software pricing

Symbility is generally less expensive than Xactimate®, with a lower initial cost and no ongoing fees. So, if you are just starting out and expect a few slow months of work, Symbility will be a cheaper option.

On the other hand, Xactimate® has a more complex pricing model, with a higher initial cost and ongoing fees based on usage. But its pricing plans become less expensive once you start using it to handle a lot of claims. Also, it excels at precise estimating because it has a deeper, broader database of materials and labor rates. (Its line items often encompass additional expected labor actions or materials, making it more inclusive.) 

4. User Interface

Symbility is known for its intuitive and straightforward design, which reduces the learning curve for new users.

Xactimate® has a higher initial learning curve, but it offers extensive capabilities once it is mastered. So, many users feel it’s worth the effort you put into it.

5. Databases

 Xactimate® has a larger database of pre-set pricing and measurement information, which can make it more comprehensive – and more transparent – for certain estimates.

Symbility has a smaller pricing database, which means it may require more manual adjustments (i.e., the addition of more line items) for detailed estimates.

Do These Three Things, No Matter Which Software You Choose

1. Fully learn about and understand your estimating software’s features, so you can use those to your advantage.

2. Approach your software’s pricing suggestions with a healthy bit of skepticism. If a suggested price seems low, consider amending it. (Note: When you’re creating an Xactimate® estimate, the Xactimate platform allows you to edit the prices item by item or do a global price change to adjust the price of all items on an invoice at the same time.)

3. Focus on scope over price when negotiating with insurance adjusters, so you can secure fair payments for your work. 

Why You Should Consider Using Both Types of Software

While Xactimate® and Symbility each offer unique advantages, using both platforms in conjunction may help you increase your versatility – i.e., so you can work with a variety of insurers that prefer one or the other. In fact, some industry experts actually suggest doing this to achieve stronger collaboration. 

Conclusion

Xactimate® and Symbility are valuable estimating tools for property restoration. When you’re choosing between these two platforms, be sure to fully investigate both options and consider how their unique strengths match your specific needs. Plus, do think about using both if you feel that might be in your best interest.

LEARN MORE:

See How magicplan Integrates Seamlessly with Xactimate®