The combined organization will develop innovative commercial insurance solutions, utilizing data, analytics and commercial workflow processes, to create more effective and efficient commercial processes for the insurance commercial industry.
“Together, LexisNexis can deliver a more holistic commercial offering to the market that addresses the industry’s needs to write better risks and improve ease of doing business,” said Bill Madison, CEO, insurance, LexisNexis. “Through this effort, LexisNexis demonstrates our commitment to improve workflows, deliver actionable insights, and provide a more seamless, engaging customer experience for insurers, brokers and their business customers.”
As part of the integration with the commercial insurance business, the Insurance Exchange will be led by Ernie Feirer, vice president, commercial insurance.
The LexisNexis commercial insurance business enables brokers and carriers throughout the policy lifecycle to best match risks and risk appetites and make sure they are connected at important points throughout the submission process. Commercial carriers and brokers utilize data and analytics solutions from LexisNexis, such as marketing and data pre-fill, to better know their customers, lower loss ratios, streamline quoting and become a choice carrier of preferred risk.
LexisNexis is the leading provider of insurance data, analytics and related services, serving more than 300 general insurers in the US. LexisNexis and its customers leverage LexIDSM proprietary linking technology and access to more than 40 billion public and proprietary records from more than 10,000 sources to identify, organize information quickly and link records together.
For more information, visit LexisNexis Insurance Exchange mobile application or LexisNexis Insurance Exchange.
About LexisNexis Risk Solutions
LexisNexis Risk Solutions (lexisnexis.com/risk) is a leader in providing essential information that helps customers across all industries and government predict, assess and manage risk. Combining cutting-edge technology, unique data and advanced scoring analytics, Risk Solutions provides products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy. LexisNexis Risk Solutions is part of Reed Elsevier, a leading publisher and information provider that serves customers in more than 100 countries with more than 30,000 employees worldwide.
Our insurance solutions assist insurers with automating and improving the performance of critical workflow processes to reduce expenses, improve service and position customers for growth.