Data will drive move away from single risk to greater pricing sophistication, says LexisNexis

15-04-2020

Data will drive move away from single risk to greater pricing sophistication, says LexisNexis

COVID-19 might be disrupting our world but data that can offer a 360-degree approach to risk and insurance may be one way to future-proof against major market shocks. Intelligent Insurer finds out more.

“Being able to understand consumer behaviour around whether they are leaving the features on tells us something from an underwriting perspective.” Jeffrey Skelton, Insurance UK and Ireland managing director for LexisNexis Risk Solutions.

· Insurers aim for a 360-degree view of the consumer and their risk
· Holistic approach offers indirect growth boost through reinsurance
· Monitoring in-car safety features to drive pricing innovation
· Tangible property data to upgrade geospatial tool risk assessments

LexisNexis looks to a post-COVID-19 world where data and analytics will support sustainable insurance industry growth.


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Intelligent Insurer