Americans are seeking to change their insurance coverage more frequently than in the past, after a surge in premiums that’s squeezed household budgets, a new industry report shows. For car insurance, so-called policy shopping rates — essentially the share of …
A report on the first quarter of 2024 shows a continued surge in new auto insurance policies, indicating that U.S. consumers are switching providers at higher rates. LexisNexis issued its Insurance Demand Meter report this week. It advises carriers to …
Do motorist-assistance systems like GM’s OnStar feed data to auto insurers, resulting in higher premiums for some drivers? A south Florida man says indeed, they do, and has filed a proposed class-action lawsuit against General Motors and LexisNexis Risk Solutions, …
Claim severity for both bodily injury and property damage increased by 35% since 2019, while collision claim severity has jumped 40%, LexisNexis Risk Solutions says in a new report. The data broker’s 2023 U.S. Auto Insurance Trends report says the …
Advanced driver assistance systems result in fewer claims and reduce insurers loss costs by up to 23%, according to a paper by LexisNexis Risk Solutions. John Kanet, director of auto insurance for LexisNexis, said the research shows ADAS has “a …
LexisNexis Launches Global Alliance Program Focusing on Data Analytics LexisNexis Risk Solutions announced the launch of its LexisNexis Global Insurance Alliance program. Insurers can integrate with more than 125 alliance program members to access LexisNexis policy and claims solutions that …
Texas has a hail problem. OK, from an insurance perspective, Texas has a weather problem, period, but that’s another story altogether. Back to hail. On June 6, a hailstorm walloped heavily populated areas of North Texas with baseball sized hail …
While insurers in the U.S. recognize the impact the data will have on the industry, few currently have an IoT strategy, are collecting IoT data or have dedicated resources in place, according to a new LexisNexis Risk Solutions research. This …
LexisNexis Introduces New Multi-language Telematics Capability Atlanta-based Lexis Nexis Risk Solutions now includes multi-language capability in its telematics platform. This development can improve speed to market in each territory while providing the benefits of a consistent platform across different geographical …
Though some carriers continue to favor traditional claims processes, the demand for faster cycle times, reduced expenses and improved customer satisfaction is driving increased automation and an eventual migration from virtual to touchless claims, according to new automotive claims research …