Auto Insurance Renewal Solutions
Real Data Insights Can Help Drive Profitability at Policy Renewal
Take Control of Changing Renewal Risks
Driving behavior has changed dramatically in the last few years, resulting in changing risk profiles. Auto insurers who haven’t updated their pricing models to reflect these changes may be missing out on opportunities to price more accurately and help predict future risk.
Missed driving violations, undisclosed drivers on the policy and undetected claims activity can lead to higher loss ratios. A more proactive renewal strategy can help you capture additional premium, better manage risk and nurture a healthier book of business.
Leveraging data insights at renewal can help drive profitable growth.
LexisNexis® Risk Solutions offers a number of auto insurance renewal solutions to help you take control of the changing risk on your books. These actionable data insights can be integrated directly into underwriting workflows.
Through existing policy contributions, our LexisNexis® Active Insights platform can help automate monitoring for changes in risk within your book of business and proactively deliver event notifications so that you can take more timely and appropriate action.
Challenges that our renewal solutions can help address:
- Identify undisclosed drivers in the household
- Zero in on specific states by claim type and claim amounts
- Monitor violations to strengthen price segmentation
Featured Content
Take Control of Driving Risk Changes
Uncover Hidden Risks on Your Renewal Book
The $4.9B Auto Insurance Renewal Opportunity
Three assumptions keeping auto insurers from renewal profitability
Featured Solutions
Active Insights - C.L.U.E.® at Renewal
