Imagine a team of about 35 specialists assisting insurers and automakers in sharing data and analytics in order to provide customers with next-generation mobility and connected car services… For LexisNexis Risk Solutions, it’s no longer an idea but is its latest move to bridge the two industries for the benefit of customers.
Announcing the formation of the global team, LexisNexis Risk Solutions said it has made a multi-million dollar investment to make it happen. And the plan is to expand the group to 100 dedicated specialists over the next five years.
“We’ve established the ‘connected car’ team to enable us to innovate and execute quickly, as well as respond to the increasing pace and interest between automakers and insurance providers to engage consumers with driving behaviour information, collision detection, and other programmes that connectivity enables,” said Adam Hudson (pictured), senior director of product management for US connected car.
“Automakers and car insurers alike want to know more about their customers to better serve them throughout the lifecycle of vehicle ownership and through life events that change a consumer’s needs,” he noted. “Today, 85% of US auto insurers use a LexisNexis prefill solution, which is focused on ease of use for the consumer, improved accuracy, and a better experience throughout the customer journey.”
LexisNexis Risk Solutions, which works not only with 95 of the top 100 US personal lines insurers but also with over 90% of the UK motor insurance market, said the team consists of experts in data science, technology, as well as product and market strategies. Together, the specialists have more than 125 years of experience in automotive, telematics, and technology.
The team will be headed by Hudson and vice president of global products Rutger van der Wall.
“Investment in this new connected car team signals a transformational approach and focus on this market, one that we feel best positions us to deliver value across two powerful industries,” added Hudson. “It also provides their shared customer base, the consumer, with innovative and game-changing data and analytics products, which will establish leadership in the marketplace.”
Aside from the US and the UK, LexisNexis Risk Solutions also works with insurers across Brazil, India, China, and Spain. The Atlanta-headquartered data and analytics firm is part of London-based FTSE 100 company RELX Group.