ATLANTA, April 23, 2018 /PRNewswire/ -- LexisNexis
Risk Solutions, a leading provider of data, analytics and
technology for insurance, today announced the launch of LexisNexis®
Vehicle History. This solution offers a more holistic view of a
vehicle's lifecycle by gathering data on previous damage events,
ownership changes, odometer readings, and other data points to help
insurers make a more accurate risk assessment.
"Just as financial responsibility is predictive of future
behavior, a vehicle's history can be predictive of future loss,"
said Tanner Sheehan, Senior Director
of Auto Insurance, LexisNexis Risk Solutions. "Relying on consumers
to fill in the critical, but sometimes non-obvious or unknown,
details for their insurer to then assess risk and provide an
appropriate premium back to the consumer can be a cumbersome and
unreliable proposition."
LexisNexis Vehicle History provides a robust and simplified data
gathering and delivery process that insurers can incorporate in
their existing workflows. The solution draws from a variety of data
sources to integrate important vehicle-related attributes into the
pricing equation, while maintaining a simple quoting process for
the consumer by prefilling information about the vehicle's history.
LexisNexis Risk Solutions insurance customers have access to data
and analytics with sub-second turnaround utilizing a single point
of entry that eliminates the need for technology resources to
implement the product.
"With the advent of the vehicle technologies like Advanced
Driver Assistance Systems (ADAS), there is an even greater need to
incorporate vehicle-centric attributes into the insurance policy
rating equation," said Sheehan. "LexisNexis Vehicle History is an
easy step any insurer can take towards understanding the vehicle's
history."
About LexisNexis Risk Solutions
LexisNexis Risk
Solutions harnesses the power of data and advanced analytics to
provide insights that help businesses and governmental entities
reduce risk and improve decisions to benefit people around the
globe. We provide data and technology solutions for a wide range of
industries including insurance, financial services, healthcare and
government. Headquartered in metro Atlanta, Georgia, we have offices throughout
the world and are part of RELX Group (LSE: REL/NYSE: RELX), a
global provider of information and analytics for professional and
business customers across industries. RELX is a FTSE 100 company
and is based in London. For more
information, please visit www.risk.lexisnexis.com, and
www.relx.com.
Media Contacts:
Rocio Rivera
LexisNexis Risk Solutions
Phone: +1.678.694.2338
Rocio.rivera@lexisnexisrisk.com
Mollie Holman
Brodeur Partners for LexisNexis Risk Solutions
Phone: +1.646.746.5611
mholman@brodeur.com
View original content with
multimedia:http://www.prnewswire.com/news-releases/new-vehicle-history-data-from-lexisnexis-risk-solutions-helps-insurers-predict-future-loss-and-assess-risk-300633869.html
SOURCE LexisNexis Risk Solutions