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LexisNexis Risk Solutions (Atlanta), a provider of data, analytics and technology to the insurance industry, reports that it has made a multi-million dollar investment in the formation of a new global Connected Car team.
The company says it has created a team of more than 35 professionals to help automakers and insurers share data and analytics to deliver the next generation of mobility and connected car services and insights to improve customer experience for both industries. The LexisNexis Risk Solutions Connected Car team plans to grow to 100 dedicated specialists over the next five years.
LexisNexis Risk Solutions says it has drawn on its expertise in insurance marketing, underwriting and risk assessment, compliance and collision decisions to assemble a team of experts in data science, technology as well as product and market strategies. Collectively the team has more than 125 years’ experience in automotive, telematics and technology.
Led by Adam Hudson, Senior Director of Product Management for U.S. Connected Car, and Rutger van der Wall, Vice President of Global Products, the team is tasked with accelerating the development of solutions that bridge the insurance and automotive manufacturing industries.
“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 behavior information, collision detection and other programs that connectivity enables,” comments Hudson. “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. Today, 85 percent of U.S. 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.”
The Connected Car team is working on delivering next-generation services utilizing on-board telematics data with the growing volume of cars now connected to the internet, according to the vendor.
Positioning to Deliver Value Across Two Powerful Industries
“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,” Hudson adds. “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.”
LexisNexis Risk Solutions reports that it has already developed close working partnerships with automakers in the US, Europe and China to help deliver new telematics-based products and services including usage-based insurance delivered at the point of sale.