ATLANTA — LexisNexis® Risk Solutions, a leading provider of data, analytics and technology, today announced the launch of LexisNexis® Drive Optics, a solutions suite to enhance driving risk insights for insurers. Drive Optics provides end-to-end solutions to seamlessly help insurers improve decision-making accuracy and speed based on knowing more about the vehicle and driver, and uses that knowledge to improve customer experience within their existing workflows. The solutions suite delivers information in three key and growing areas – vehicle risk intelligence, driving risk insights based on violations and near real-time telematics driving data – all of which insurers need to be successful in today’s disruptive market.
Data accuracy and efficient delivery are key factors at the heart of the solutions suite, which are paramount for any business looking to achieve long-term cost control and operational excellence. Drive Optics products rely on historical, current and second-by-second data and include:
“The best way for carriers to maximize their return on investment is by having a solid understanding of the vehicles they are insuring, how they are currently using driving records, and real-time driving behavior,” said Adam Pichon, vice president and general manager, Auto Insurance at LexisNexis Risk Solutions. “Consumers expect seamless transactions thanks to a highly-digitized environment, and Drive Optics solutions allow the underwriting process to be more streamlined and cost effective, while offering an innovative, futuristic view of risk.”
Among the newest products within the Drive Optics solutions suite, LexisNexis® Driving Behavior 360 (DB360) combines multiple sources of traffic violation data into a single view offering flexibility in decisioning criteria and is one of several simplified driving record solutions to help insurers better manage their book of business. DB360 delivers actionable risk data about a driver in a format that is easy to understand and incorporate into any company’s workflow. LexisNexis Risk Solutions also recently announced its LexisNexis® Vehicle Build solution that will leverage its new Advanced Driver Assistance Systems (ADAS) classification taxonomy to help insurers unlock vital information about the safety-feature technology within customers’ vehicles.
The LexisNexis Drive Optics suite of solutions are all delivered through existing market and product platforms, making access to data insights and advanced analytics seamless and scalable.
For more information, please visit the Drive Optics page.
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 (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers across industries. For more information, please visit www.risk.lexisnexis.com and www.relx.com.