LexisNexis® Risk Solutions and Ford Motor Company today announced they have entered into a strategic agreement so that Ford connected automobile data can be available to U.S. vehicle insurers through the LexisNexis® Telematics Exchange. Ford and Lincoln customers with an eligible 2020 model year or newer vehicle can decide in to take part in usage-primarily based insurance policies (UBI) systems, which has the opportunity to save buyers dollars through extra customized insurance policies offerings.
“We’re excited about this agreement with Ford,” said Adam Hudson, vice president and common supervisor, U.S. Connected Vehicle, LexisNexis Risk Answers. “As a trusted steward of data for far more than 20 yrs, LexisNexis Risk Solutions continues to deliver the insurance policy and automotive industries with each other with marketplace-main remedies to give people with a superior expertise throughout insurance policies procuring and renewal. We want to carry on delivering on our mission of furnishing unparalleled driving-associated insights and rewards to insurers, automakers and their drivers.”
“Ford entrepreneurs who opt-in to utilization-based coverage have the probable to decrease their overall expense of motor vehicle ownership via additional individualized insurance choices and be rewarded for very good driving habits,” said Kari Novatney, Common Supervisor, Connectivity System & Partnerships, Ford Motor Firm. “LexisNexis Danger Remedies is helping Ford customers much more effortlessly go after the rewards of their vehicle’s connectivity for potential insurance policy rewards.”
LexisNexis Chance Options ingests and normalizes connected vehicle info by means of its information platform, the LexisNexis Telematics Exchange, to produce driving habits insights for U.S. coverage carriers to use in just their current automobile insurance policy workflows. This enables insurers to extra accurately phase risk, even though providing individuals the possibility to cut down the over-all cost of automobile possession by having advantage of very good driving habits. By leveraging data sourced by way of the Telematics Trade, insurers can have an easier path to entry driving conduct info for place of estimate, underwriting and renewal, irrespective of whether or not they have an current insurance provider-led UBI software.
LexisNexis Threat Methods will work with 95 of the top rated 100 U.S. automobile insurers. Its U.S. Linked Car or truck business delivers telematics methods and superior analytics, including LexisNexis® Telematics OnDemand and its future-generation LexisNexis® Generate Metrics scores, which allow insurers to seamlessly leverage driving behavior insights for the duration of the insurance coverage shopping process at the stage of quote, as well as at underwriting and renewal.