LexisNexis News
Auto Insurance Shopping Rebounds After COVID-19 Shutdown
Auto insurance shopping and new business growth rebounded in May and June after a drop in late March and early April due to COVID-19 shutdowns, civil unrest and other events. However, there was ...
AI Adoption High But Staffing an Obstacle for Carriers
Sixty-two percent of carrier professionals recently surveyed said their companies have already adopted artificial intelligence and machine learning initiatives, but a high percentage of those ...
Commercial Insurance Ratings for Small Business: Challenge or Opportunity?
The growing gig economy, where nearly one-third of workers in the U.S. are now employed by small to medium businesses, is making it difficult for commercial insurance carriers to accurately assess ...
Future of Claims: Customers Still Want Humans In Process—But Not Too Many
While insurance carriers are warming to the idea of automating the claims process—and even possibly touchless claims handling—auto insurance policyholders are still wary of do-it-yourself ...
The Latest Launches From Aon and LexisNexis
Aon said it has started offering coverage designed to protect income streams for companies with lots of intangible assets, such as firms in the gig economy. LexisNexis is releasing a new data score ...
First ‘Contextual’ Telematics Insurance Model Launching in U.S.
Last week, LexisNexis Risk Solutions announced a new telematics model, describing it as the first U.S. insurance model to apply geospatial context to driving events to better understand how drivers ...
The Three Metrics That Matter Most for Managing Litigated Claims Costs
Insurers place major importance on measuring the costs for litigated files, according to a new LexisNexis industry survey. A sizable majority of respondents say that metrics such as average case ...
Early Use of Real-Time Data Can Save 25% on Claims: LexisNexis
Carriers that incorporate real time data analytics into the claims process at first notice of loss can more accurately and consistently triage claims, identify potentially fraudulent files and ...