Cathy Allred – June 2, 2013
The 200 mph winds that ripped through Moore, Okla., two weeks ago didn’t get close to Orem [UT].
But the effects reached the 1,100 miles for one company, which exists to determine property damage for insurance companies. Xactware clients use its products when damage is done to property whether manmade or otherwise such as when natural disasters hit like the recent Oklahoma tornado.
At the forefront of technology, Xactware has developed Property InSight to help insurers estimate customer losses. The new tools the development team have designed are so advanced in technology that there are patents pending on several of them.
“It’s one of our newer services from about a year ago,” CEO Jim Loveland said.
His company partners fly the country in small single engine propeller planes with a camera strapped into the passenger side. Flying 12,000 to 15,000 feet above the community, the pilots can capture ultra high resolution photos.
The advantage? One photo speaks a thousand words goes the saying and for Xactware’s clientele the information is valuable.
“The camera technology is so good that we are able to capture these images from a very high elevation,” Loveland said. “Ironically enough, one of the very first cities we captured was Oklahoma City.”
A family legacy
Whether genes or family culture, the Lovelands keep an entrepreneur legacy begun with the father, James Loveland, who founded Xactware Solutions in 1986.
He fought a yearlong battle with leukemia and in 2005 died at the age of 54.
“Growing up around such a brilliant entrepreneur, it probably just runs in the blood. I don’t know,” Jim Loveland, the oldest brother, said. “It’s a very entrepreneurial family that we have.”
His brother Eric Loveland is one of the principal owners of Costa Vida Managment Company, the parent company for Costa Vida Restaurants. He has other investments as well.
Eric Loveland said he still gets comments from people who knew his dad.
“My dad was amazing,” Eric Loveland said. “In some regards I am still living off my dad’s reputation.”
Meanwhile, mom Lynnette Loveland and his sister Lychelle Loveland Bay began the Blue Lemon restaurants, and his sister Amanda Loveland owns Mod Bod.
A family tradition, they gather together each week — children, grandchildren and grandma.
“We have some great conversations over Sunday dinner,” Jim Loveland said.
His brother and sisters have worked at Xactware at some time during various stages of the business.
“I remember those days really well. I honestly have grown up in the business. I was customer support, quality assurance, you had to do many different jobs,” Jim Loveland said.
He started at his dad’s business when he was in junior high school.
“I grew up in north Orem under the shadows of WordPerfect,” he said.
After graduating from Orem High, he earned a degree in computer science from BYU, then migrated more into Xactware management eventually earning an MBA from University of Utah.
Coming the distance
His company began with its flagship product, Xactiate, a program James Loveland developed to help contractors and insurance adjustors estimate repairs more quickly. Xactware has evolved from that initial product launch to providing software for professionals involved in providing estimates for all phases of building and repair.
Jeffrey Taylor, Property InSight vice president, said the advantage to the program is the photos are calibrated to allow workers to collect dimensions and data about the structures. The details — gutters, ridges, chimneys and even individual shingles — can all be seen on the images.
“Professionals [have] the opportunity to start estimating rebuilding costs even before civil authorities allow them in neighborhoods to assess the structures,” Taylor said.
One of the reasons Property InSight is so exciting for Loveland is that he remembers the Oakland, Calif., fires of 1991.
“We were out there trying to help our customers whose homes had been destroyed by the fires. The fires burnt so hot, it melted and completely destroyed the foundations,” he said. “There were many stories that they would describe their house as actually bigger than the lot.”
Loveland chuckles and says, “That was a long time ago.”
With the photos taken in 2012 and photos taken also after the tornado hit on May 20 of the Oklahoma area, homeowners and claims adjusters have a resource on which to fall back. Estimated damage was $2 to 3.5 billion with more than 22,400 insurance claims filed with the state.
“This will help them rebuild their lives and their homes, which is going to take years to do,” Loveland said.
One of the features for Property InSight that Loveland is especially proud to have involves an advanced computer algorithm that automates most of the work finding edges of a building’s roof and makes possible to illustrate complex roofs in a few minutes.
“We are fortunate, we have been in business 27 years now. We have got a great team of people,” he said.
The company has a new facility under construction in north Lehi on the slopes of Traverse Mountain.
“The building is coming along great,” Loveland said. “I’m really pleased with the project. They have done a great job.”
On track for a 2014 opening, the security lights can be seen from the far edges of the county and looks more like a star constellation has settled on the hill.
“It does light it up very efficiently. I can see it from my house. It’s unbelievable,” he said.
More on Xactware can be found at xactware.com or on Loveland’s blog at xactware.com/ceoblog.