JumpStart recently invested $250,000 in
Casentric, a Shaker Heights developer of a cloud-based software-as-a-service application to help insurance companies resolve property and injury claims quickly and fairly. CaseXpert streamlines the information needed to resolve a claim by integrating liability, injury and medical reports into one, making the adjuster’s job easier and un-biased.
“This tool helps insurance companies resolve their cases more accurately and faster,” explains Jim Kaiser, Casentric CEO. “CaseXpert helps adjusters evaluate claims in a balanced way that is fair to the customer, but represents the companies’ interests as well.”
Before CaseXpert, adjusters often were left to rely on their own experience to determine claims. “Claims were determined through their own expertise,” says Kaiser. “Adjusters had to grapple with claims.”
Casentric launched the first version of CaseXpert in September, and relied on user feedback before releasing its second version early this year. “We heard adjusters get bombarded with a lot of information, and it’s hard for them to get their arms around,” says Kaiser. “We made sure the information is easy to use. The users said, ‘It makes me more confident in figuring out what’s going on with the case.'”
Kaiser says Casentric plans to use the JumpStart investment to roll out additional components to CaseXpert and generate sales. The next component will be a negotiation tool. “Adjusters spend a good part of the day negotiating,” says Kaiser. “Our virtual dashboard tells users how it’s going, are we miles apart and does this look like it’s going the right way.”
Casentric currently outsources three positions. Kaiser says he hopes to hire some permanent staff members with the JumpStart investment.
Source: Jim Kaiser
Writer: Karin Connelly