ATLANTA, – LexisNexis® Risk Solutions has been recognized as an industry leader by Aite Group, an independent research and advisory firm. The company was acknowledged for its innovative use of data in the category of “Addressing the mortality challenge in life insurance underwriting.”
LexisNexis Risk Solutions was acknowledged for modernizing the life insurance industry through its ability to think outside the box and provide data to support the underwriting process. By leveraging its lifestyle, behavioral, and financial attribute data, LexisNexis adds value to the underwriting process to help support a nonintrusive and nonmedical way to streamline how insurers underwrite.
“As the life insurance industry shifts to new products and ways to distribute and underwrite them, out-of-the box thinking like LexisNexis’ use of new data sources will help support this new industry era,” said Samantha Chow, Senior Analyst, Aite Group.
The report, “Life Insurance Underwriting: Solutions for Today’s Challenges,” examines the vendor solutions that life insurance companies can tap into to address the underwriting process’ five pain points: labor, speed, efficiency, pricing, and mortality. It identifies the vendors within each challenge category, compares their abilities and impact, and awards vendors for their strengths and methods.
“We are proud to be recognized for our innovative use of data in life insurance underwriting,” said Elliott Wallace, VP and GM, Life Insurance, LexisNexis Risk Solutions. “The life insurance industry often struggles with finding efficient, cost-effective and fast underwriting processes. We know that real-time data and advanced analytics can unlock tremendous opportunities for life insurance carriers and we strive to provide the tools to better manage risk in more efficient ways.”
To access the full report, visit: http://aitegroup.com/.
About LexisNexis Risk Solutions
LexisNexis® Risk Solutions harnesses the power of data, sophisticated analytics platforms and technology solutions to provide insights that help businesses across multiple industries and governmental entities reduce risk and improve decisions to benefit people around the globe. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information-based analytics and decision tools for professional and business customers. For more information, please visit LexisNexis Risk Solutions and RELX.