LexisNexis announces the addition of Mitsubishi telematics data from its Mitsubishi Road Assist+ app to LexisNexis Telematics OnDemand, a solution that integrates telematics-based driving behavior data into auto insurer rating and underwriting workflows. Mitsubishi vehicle owners, who have opted in to share their data for insurance purposes, shop for auto insurance in the U.S., they are able to use their Road Assist+ telematics data to potentially earn discounts on their insurance premiums as early as point of quote.
U.S. auto insurers can leverage driving behavior insights earlier in the insurance shopping process at the point of quote, as well as at underwriting and renewal, using normalized telematics data from the Mitsubishi Road Assist+ app from insurers using LexisNexis Telematics OnDemand. Telematics OnDemand delivers attributes and scores, harnessing data from participating automakers of the LexisNexis Telematics Exchange.
Auto insurers can offer customers and prospects who are Mitsubishi vehicle owners and users of the Mitsubishi Road Assist+ app more personalized pricing and usage-based insurance (UBI) options with the potential for an immediate discount. This approach helps auto insurers leverage driving behavior information – with no upfront monitoring period. Insurers can also gain critical insights for rating and pricing consumers based on how they drive, and further their own growth strategies through greater risk assessment.