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You are here: Home / Archives for LexisNexis Risk Solutions

LexisNexis Reports Auto Rate Increases Drove 17% Growth in New Auto Policies in First Quarter

May 19, 2023 By CollisionWeek Editor Leave a Comment

Growth likely to slow in second half of 2023 as more auto insurers raise rates. The latest edition of the LexisNexis Risk Solutions Insurance Demand Meter reports the quarterly year-over-year U.S. auto insurance shopping growth rate rose 10.2% in Q1 2023, up from +2.8% growth in Q4 2022 as auto insurers continue to implement widespread […]

Filed Under: News Tagged With: Auto Insurance, LexisNexis Risk Solutions

LexisNexis Auto Insurance Trends Report Says Collision Severity Was Up 9% in 2022

May 11, 2023 By CollisionWeek Editor Leave a Comment

LexisNexis Risk Solutions released its 2023 U.S Auto Insurance Trends Report, which aggregates annual market data about driving behaviors, consumer auto insurance shopping, underwriting and claims to help insurance carriers better understand the evolving trends impacting the U.S. auto insurance industry. This year’s report analyzes 2022 data and tracks macro-market conditions such as volatile shopping […]

Filed Under: News Tagged With: Claim Severity, LexisNexis Risk Solutions, Total Loss

LexisNexis U.S. Auto Insurance Trends Report Details Trends in the Aftermath of Pandemic-Induced Supply Shortages, High Inflation Rates, New Driving Behaviors

April 22, 2022 By CollisionWeek Editor

LexisNexis Risk Solutions today released its 2022 U.S. Auto Insurance Trends Report, which aggregates annual market data about driving behaviors, auto insurance shopping, underwriting and claims to help insurers better navigate a myriad of evolving trends impacting the U.S. auto insurance industry. This year’s report analyzes 2021 data, detailing how the industry continues to navigate […]

Filed Under: News Tagged With: LexisNexis Risk Solutions

LexisNexis Risk Solutions Partners with Shift Technology on Claim Processing Technology

December 14, 2021 By CollisionWeek Editor

LexisNexis Risk Solutions and Shift Technology announced today the two companies have entered a strategic alliance that will enable insurance carriers to seamlessly incorporate LexisNexis Claims Clarity data and analytics into Shift’s insurance decisioning artificial intelligence (AI) models, allowing carriers to better predict fraud and risk at the first notice of loss. To achieve greater […]

Filed Under: News Tagged With: Agreements Signed, Artificial Intelligence, Claims Technology, LexisNexis Risk Solutions, Shift Technology

LexisNexis Analysis Shows Advanced Driver Assistance Systems Are Reducing Loss Costs

November 9, 2021 By CollisionWeek Editor

Report shows lower auto claims frequency and loss costs on ADAS equipped vehicles. LexisNexis Risk Solutions announced a new analysis of the relationship between Advanced Driver Assistance Systems (ADAS) features and U.S. auto insurance claims, which counters common insurance industry sentiment that ADAS repair costs offset ADAS loss cost benefits. The results are featured in […]

Filed Under: News Tagged With: Advanced Driver Assistance Systems, Claim Frequency, Claim Severity, LexisNexis Risk Solutions

Kia to Provide Enhanced Vehicle Build Data to Insurers through LexisNexis Risk Solutions Partnership

September 14, 2021 By CollisionWeek Editor

Kia America has entered into an agreement to supply vehicle build data to LexisNexis Risk Solutions to help Kia owners across the U.S. potentially benefit from their cars’ advanced driver assistance systems (ADAS) when they shop for auto insurance. LexisNexis Vehicle Build provides data regarding ADAS features in Kia vehicles in order to help U.S. […]

Filed Under: News Tagged With: Advanced Driver Assistance Systems, Agreements Signed, Kia, LexisNexis Risk Solutions

Ford Motor Company and LexisNexis Risk Solutions Partner to Provide Connected Vehicle Data to Auto Insurers

September 9, 2021 By CollisionWeek Editor

LexisNexis Risk Solutions and Ford Motor Company today announced they have entered into a strategic agreement so that Ford connected vehicle data can be available to U.S. auto insurers via the LexisNexis Telematics Exchange. Ford and Lincoln customers with an eligible 2020 model year or newer vehicle can opt in to participate in usage-based insurance […]

Filed Under: News Tagged With: Agreements Signed, Ford Motor Company, LexisNexis Risk Solutions, Telematics

LexisNexis Report Shows 60% of Auto Claims Being Handled Virtually One Year After Start of Pandemic

May 3, 2021 By CollisionWeek Editor

Future of Claims Report 2021

LexisNexis Risk Solutions today released its 2021 Future of Claims Report, revealing how the COVID-19 pandemic has accelerated claims automation. The report includes actionable insights for auto insurance carriers to improve their customer experience and turn virtual claims processing into a competitive advantage. The secret? Offering a hybrid model of self-service claims with access to […]

Filed Under: News Tagged With: Claims Technology, LexisNexis Risk Solutions, Photo Appraisal

LexisNexis Risk Solutions Introduces Verified Data Solution to Streamline Total Loss Claims

March 5, 2021 By CollisionWeek Editor

LexisNexis Risk Solutions announced the development of LexisNexis VINsights that will improve the total loss claims management process by reducing the time it takes to settle a claim. VINsights will deliver the information an adjuster needs in near real-time, including the registered owner name, titled owner name and lienholder data. Lienholder data includes lien payoff […]

Filed Under: News Tagged With: LexisNexis Risk Solutions, Total Loss

LexisNexis Launches Telematics OnDemand with Root Insurance

July 27, 2020 By CollisionWeek Editor

LexisNexis Risk Solutions launched LexisNexis Telematics OnDemand, a solution that seamlessly integrates telematics-based driving behavior data into insurer rating and underwriting workflows. Root Insurance is the first to adopt Telematics OnDemand. The solution enables U.S. auto insurers to access a consumer’s existing telematics data in near-real time at point of quote in order to more […]

Filed Under: News Tagged With: Agreements Signed, LexisNexis Risk Solutions, Root Insurance, Telematics, Usage-Based Insurance

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