One of the Largest U.S. Car Manufacturers in the U.S. Auto Insurance Market Offers Connected Vehicle Data to Leading Insurance Data and Advanced Analytics Provider.
LexisNexis® Risk Solutions and Ford Motor Company have 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 (UBI) programs, which has the potential to save customers money through more personalized insurance offerings.
LexisNexis Risk Solutions ingests and normalizes connected car data through its data platform, the LexisNexis Telematics Exchange, to create driving behavior insights for U.S. insurance carriers to use within their existing auto insurance workflows. This enables insurers to more accurately segment risk, while providing consumers the opportunity to reduce the overall cost of vehicle ownership by taking advantage of good driving behavior. By leveraging data sourced through the Telematics Exchange, insurers can have an easier path to access driving behavior data for point of quote, underwriting and renewal, whether or not they have an existing insurer-led UBI program.
LexisNexis Risk Solutions works with 95 of the top 100 U.S. auto insurers. Its U.S. Connected Car business offers telematics solutions and advanced analytics, including LexisNexis® Telematics OnDemand and its next-generation LexisNexis® Drive Metrics scores, which allow insurers to seamlessly leverage driving behavior insights during the insurance shopping process at the point of quote, as well as at underwriting and renewal. Click here for more information on LexisNexis® Telematics.
Click here for more information on LexisNexis data solutions for automakers.