Determine Rates with Greater Precision and Efficiency

LexisNexis® InsurQuote® Market Basket helps carriers rate thousands of risks active in the market virtually instantaneously.

InsurQuote Market Basket for Competitive Intelligence

LexisNexis® InsurQuote® Market Basket provides real policy and pricing data currently in market, creating the most realistic scenarios available.

LexisNexis® InsurQuote® Market Basket helps carriers rate thousands of risks active in the market virtually instantaneously.

LexisNexis® InsurQuote® Market Basket allows insurers to jump-start analysis by eliminating any data mapping. Rate thousands of risks active in the market virtually instantaneously by state so you can:

  • Successfully enter new markets
  • Accurately target specific market segments
  • Efficiently and comprehensively reduce and improve the rate revision cycle

LexisNexis® InsurQuote® Market Basket provides real policy and pricing data currently in market, creating the most realistic scenarios available. This “real-world data” from across the market expands intelligence beyond the data available on an insurer’s book of business, providing a view of both auto and home policies and delivering more comprehensive insights into package premiums. LexisNexis® InsurQuote®Market Basket uses real data to help insurers:

  • Create more accurate predictive models
  • Benchmark performance in a given segment or market
  • Identify customer profiles most likely to shop
  • Understand which segments quoted or converted, in addition to the segments of risk likely to defect

Access powerful insights quickly and easily
LexisNexis® InsurQuote® Market Basket is fully mapped and ready for use as rating risk sets in InsurQuote®.

  • Instant access – no wasted effort mapping or maintaining data from disparate systems
  • Timely information – get current policy data in market that’s truly reflective of the current market

Types of Market Baskets available:
Below is a list of the more common types of baskets used, but even more are available:

  • Shoppers: representative sample of all shoppers*
  • Quotes: quotes of specific carrier with conversion indicator*
  • PIF Shoppers: PIF polices of a carrier who shopped, includes defector indicator*
  • Channel: shoppers categorized by channel shopped
  • High Value: shoppers who represent high net worth
  • Non-Standard: shoppers who have driving problems
  • Ultra-Preferred: shoppers who are clean and have no problems
  • Standard: shoppers who do not fit into Non-Standard or Ultra-Preferred
  • Home: home characteristics for home premium comparisons

*denotes carrier configured information  

The InsurQuote services are not provided by “consumer reporting agencies,” as that term is defined in the Fair Credit Reporting Act (15 U.S.C. § 1681, et seq.) (“FCRA”) and do not constitute “consumer reports,” as that term is defined in the FCRA. Accordingly, the InsurQuote service may not be used in whole or in part as a factor in determining eligibility for credit, insurance, employment or another purpose in connection with which a consumer report may be used under the FCRA. Due to the nature of the origin of public record information, the public records and commercially available data sources used in reports may contain errors. Source data is sometimes reported or entered inaccurately, processed poorly or incorrectly, and is generally not free from defect. This product or service aggregates and reports data, as provided by the public records and commercially available data sources, and is not the source of the data, nor is it a comprehensive compilation of the data. Before relying on any data, it should be independently verified. LexisNexis and the Knowledge Burst logo are registered trademarks of RELX Inc.

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