Make Telematics Programs Smarter, Simpler and More Efficient

LexisNexis® Drive Metrics and the IMS EdgeSDK™ help auto insurers advance smartphone-based telematics by generating on-device driving intelligence that consumers can share to support more personalized auto insurance pricing. By integrating the Drive Metrics model into the EdgeSDK, LexisNexis Risk Solutions and IMS enable insurers to use driving data more effectively for underwriting while keeping underlying trip data on the user’s device. Scores and attributes generated by the Drive Metrics model can flow into existing underwriting and pricing workflows, delivering consistent insights generated across the LexisNexis® Telematics Solutions portfolio. 

In conventional cloud-based programs, data processing, transmission and storage costs grow with every participating consumer, making telematics difficult to scale across a broad book of business. This collaboration helps insurers implement insurer-led usage-based insurance programs more efficiently and cost-effectively, with the potential to support use cases across the insurance continuum from quote to claim. By making normalized data more accessible and scalable, it can help insurers gain a deeper understanding of risk and deliver a better consumer experience.

• Drive Metrics and EdgeSDK can help insurers bring driving intelligence into the insurer’s existing flagship app without requiring customers to download a separate telematics app.
• On-device computing is designed to help reduce reliance on cloud processing and storage for traditional telematics programs.
• Gives consumers the ability to share driving behavior attributes and a Drive Metrics score with their insurer.
• The Drive Metrics model has shown a 79% improvement beyond standard rating factors. *
• Auto insurers without a branded app can use the IMS white-label app to support a usage-based insurance program. 

Usage-based insurance programs can help insurers consider driving behavior as part of underwriting and pricing. Yet many programs can be complex to launch, costly to operate and difficult to scale across a broad book of business. For carriers under pressure to improve precision, the next wave of telematics may need to be easier to deploy and easier to explain, while reinforcing user transparency and data privacy. 

The collaboration between LexisNexis® Risk Solutions and IMS is designed to address that market need. By integrating the LexisNexis® Drive Metrics scoring model into the IMS EdgeSDK™, insurers can explore a smartphone-based telematics approach that supports on-device driving insights and more flexible usage-based insurance workflows.

Drive Metrics is a scoring model from LexisNexis Risk Solutions that applies predictive risk analytics to driving behavior data. The EdgeSDK is smartphone-based telematics technology from IMS that can be embedded into the insurer’s existing flagship app without requiring customers to download a separate telematics app. The integration of the Drive Metrics model into the EdgeSDK offers on-device computing that generates scores and attributes intended to help insurers offer their customers telematics insights from a mobile device and use those insights to help support more personalized auto insurance pricing.

• Help launch or enhance usage-based insurance programs: Drive Metrics and the EdgeSDK can help insurers add driving intelligence to branded mobile app experiences.
• Help reduce program cost and complexity: On-device computing can help reduce dependence on cloud-based processing, transmission and storage associated with traditional telematics programs.
• Support more personalized pricing workflows: Drive Metrics can provide driving behavior attributes and scores that insurers may use to help inform pricing and underwriting decisions.
• Reinforce transparency for participating consumers: The EdgeSDK is designed so that underlying trip data remains on the smartphone and gives users the ability to share driving attributes and scores with their insurer.

1. A consumer decides to participate in their insurer’s branded mobile app.
2. IMS EdgeSDK supports smartphone-based telematics computing on the mobile device.
3. LexisNexis Drive Metrics generates driving behavior attributes and a predictive risk score.
4. The consumer has the ability to share their attributes and score with their insurer.
5. The insurer may use the shared insights to help support more personalized pricing and underwriting decisions.

Consumers increasingly expect more personalized insurance aligned with how their vehicles are driven. By giving consumers visibility into their driving score and the ability to share their driving scores and attributes, they can potentially access more personalized pricing opportunities. For insurers, it’s one more way to reinforce trust, increase engagement and create a stronger connection between safe driving behavior and potential value.

LexisNexis Risk Solutions and IMS can help insurers evaluate how LexisNexis Drive Metrics and the IMS EdgeSDK may fit into a broader telematics, underwriting and pricing strategy. Complete the form to learn more about bringing smartphone-based driving intelligence into your usage-based insurance program.

*Source: LexisNexis Risk Solutions Driving Score Whitepaper, 2021
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