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Advanced Analytics for Underwriting

Advanced Analytics for Underwriting

LexisNexis® Risk Solutions offers advanced predictive models and rules-based analytics that leverage vast data assets to help drive more objective underwriting and pricing decisions, improve risk segmentation and enhance profitability.
Capabilities include predictive underwriting, geospatial intelligence and driver behavior scoring.

Predictive Underwriting

Advanced analytics and predictive modeling are used in underwriting to help assess and score a customer’s risk. LexisNexis® Risk Solutions has developed proprietary risk assessment models using public record information and more than 10,000 data sources and industry-specific data records – the largest in the industry. These models help to provide a score that serves as an alternative to standard credit scores. Additionally, LexisNexis® has been delivering credit-based Attract scores for two decades, and is the industry preferred solution provider in the Auto, Home and Commercial markets. LexisNexis® models are enabled through our HPCC super computing platform, and leverage a unique identifier and proprietary linking capability to help ensure the most accurate match possible to help carriers more accurately rate each risk during the underwriting, pricing or renewal process.
Attract

Geospatial Intelligence

Geospatial intelligence is a type of advanced analytics that combines location or geographic data to bring additional insights to the underwriting process. It enhances the accuracy of an organization’s predictive analytics with more comprehensive information at the risk peril level. LexisNexis® capabilities include geocoding, geospatial aggregations by historical weather experience, topography features, asset types, property characteristics and loss histories.
 
LexisNexis® applies advanced analytics and visual mapping tools to our vast data stores for a more granular view of a geographic area or risk pool, with capabilities that include geocoding, geospatial aggregations by historical weather experience, topography features, asset types, property characteristics and loss histories. Our geospatial intelligence solutions can help carriers more efficiently segment risk, and proactively manage their loss ratio.
LexisNexis® Map ViewLexisNexis® Territory Index

Driver Behavior Scoring

Driver behavior scoring is a form of predictive analytics that processes data coming from different type of telematics data collection source to generate attributes, predictive scores and reports about an individual’s driving pattern. LexisNexis® driver-based scoring models apply advanced analytics and proprietary machine learning technology to billions of miles of driving behavior data collected through a proprietary platform to gain both vehicle and driver-level insight. These data points are being used globally with our Attract models to rate and price consumers and commercial policies with usage based insurance.
Driver Discovery