LexisNexis Risk Solutions, a provider of data, analytics and technology, announced that Nissan North America has joined the LexisNexis Telematics Exchange. LexisNexis develops solutions to enrich the customer journey and deliver usage-based insurance (UBI) programs for vehicle owners to easily enroll and participate, giving drivers the opportunity to lower their insurance premiums and reduce the cost of vehicle ownership.
Mileage data from auto makers is available to participating insurance carriers through the LexisNexis Telematics Exchange, and insurers benefit from having standardized driving data for lead generation, more accurate underwriting and more efficient claims processes.
Once connected, a vehicle’s mileage and driving data will integrate into the LexisNexis Telematics Exchange to automate and help expedite reporting. With customer consent, data is collected, normalized and analysed through LexisNexis, which enables auto makers to extend their programs and offer drivers the opportunity to track and monitor their driving, and receive benefits and rewards based on their safe driving behaviour.
The LexisNexis Telematics Exchange normalizes and scores telematics data from numerous sources including auto manufacturers, OBDII devices and smart phone applications to more accurately determine an individual driver’s patterns of behaviour and level of risk. Housing telematics data from all of these sources, the LexisNexis Global Telematics Platform is device-agnostic. LexisNexis Risk Solutions, which works with insurers, can quickly develop UBI solutions regardless of changes in connected car technology and score across many data collection devices to fit various consumer preferences.