LexisNexis Risk Solutions and connected insurance technology company IMS have integrated the LexisNexis Drive Metrics driver scoring model into the IMS EdgeSDK, a smartphone telematics toolkit that calculates driving scores on the user’s device rather than in the cloud, the companies announced Sept. 24.
The companies are marketing the combined product to U.S. auto insurers of all sizes, including carriers that do not yet run a usage-based insurance (UBI) program. LexisNexis estimates that eliminating the cloud processing and storage fees of traditional telematics programs reduces the operational expense of a UBI program by 50% to 80%, based on its U.S.
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