ILC ARTICLE

Lexis Nexis launches one-stop data solution

16th June 2023

Lexis Nexis Risk Solution has released a new product to help insurers gain a more granular view of the vehicles they are insuring.

Lexis Nexis Vehicle Insights provides a single source of accurate, real-time information on the vehicle’s ADAS systems, current status, valuation and maintenance history. These deep insights will vastly improve risk assessment and enhance the customer experience from quote to claim.

Tom Lawrie-Fussey, Automotive Director for UK and Ireland Insurance, said, “A comprehensive assessment of motor insurance risk has been very challenging. This is not least due to the diverging trends of cars getting older and maintenance taking a back seat in the cost-of-living crisis, alongside new cars featuring increasingly sophisticated safety technology.

“Insurance providers need more detailed and more accurate information on exactly how a vehicle has been used and looked after and the impact on its value. Accessing that knowledge up front is not only better for the customer experience, but insurance providers can more accurately predict claims as well as the cost of repair.

“LexisNexis Vehicle Insights provides a fuller picture of a specific vehicle going well beyond mileage, make and model. For example, we can tell insurance providers more about the potential risk of the owner/driver based on the car’s MOT history. We can also confirm accurate valuations in a way that is transparent for the customer to help support a smoother claims experience.”