ATLANTA — LexisNexis® Risk Solutions, a leading provider of data, analytics and technology solutions for insurance carriers, today announced a new alliance with Vexcel Data Program, a global leader in aerial imagery and geospatial data, adding its imagery as a key enhancement to LexisNexis® Rooftop. An integral part of end-to-end property intelligence solution, LexisNexis® Total Property Understanding™, LexisNexis Rooftop offers customers two Rooftop models to choose from. This includes a geospatial model enhanced by comprehensive claims datasets from LexisNexis Risk Solutions, as well as a geospatial imagery model that utilizes manned fixed-wing aerial imagery to provide carriers with first-hand visibility of the roof in addition to over 30 imagery-analytics attributes.
“LexisNexis Rooftop leverages a vast database of industry personal lines claims, which in combination with weather and property data is much more predictive of future loss than imagery and weather data alone,” said Randy Ishikawa, director, home insurance, LexisNexis Risk Solutions. “This enables insurers to determine the likelihood of a future claim that is backed by deep analysis of industry-leading aerial imagery without having to review the actual pixels.”
And if an insurer wants corresponding imagery, Rooftop delivers a new and improved imagery solution with more than 30 proprietary imagery-analytics attributes. Combined with our geospatial solution, that is almost 80 additional risk attributes for property assessment.”
With increasing challenges such as severe weather events, inflation and migratory trends affecting insurance availability, the importance of utilizing a property risk-assessment tool like LexisNexis Rooftop within the insurance industry cannot be overstated.
The relationship with Vexcel brings enhanced imagery capabilities into the Total Property Understanding suite of solutions. Seamlessly integrating advanced weather, claims and property data with aerial imagery, LexisNexis Rooftop goes beyond traditional home insurance risk assessment methods by helping to predict future roof claims and providing an option to review and enable imagery whenever the claim risk is high. This innovative approach helps improve accuracy and efficiency which can help redefine the way insurers assess property risks.Key features of the enhanced Rooftop solution include:
“Total Property Understanding has been designed to arm insurers with end-to-end insights to better segment and rate a property’s risk, including historical personal lines claims both for the home and surrounding area, in addition to key weather and property risk insights,” said Cole Winans, vice president and general manager, property solutions, LexisNexis Risk Solutions. “These aerial and geospatial enhancements to LexisNexis Rooftop are a huge advancement within the Total Property Understanding suite. By aligning with Vexcel and its expertise in camera aerial systems and photogrammetry software, we are empowering insurers with some of the most advanced tools available today to accurately assess property risks, streamline underwriting processes, and make more informed decisions to better serve consumers.”
About LexisNexis Risk Solutions
LexisNexis® Risk Solutions includes seven brands that span multiple industries and sectors. We harness the power of data, sophisticated analytics platforms and technology solutions to provide insights that help businesses 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.