Fastnet Underwriting Goes Heavy on the ‘Metal’ for More Accurate Motor Insurance Quotes with LexisNexis® Vehicle Insights

06/03/2025

DUBLIN — Fastnet Underwriting, a brand-new insurance MGA in the Republic of Ireland is living up to its promise to use advanced technologies and processes to deliver fair and competitive motor insurance premiums to brokers. In a new contract with LexisNexis® Risk Solutions, the data, analytics and technology provider, Fastnet Underwriting is now tapping into LexisNexis® Vehicle Insights, a suite of vehicle centric data solutions for more insight on the ‘metal’ at the point of quote. In addition, LexisNexis Risk Solutions will be supporting Fastnet motor insurance rating decisions as the appointed distributor of Thatcham Vehicle Risk Data (VRD).  

The average age of the car parc in Ireland is now 9.7 years, rising to 11 years for petrol modelsⁱ, yet the cost of motor insurance has risen 11% in the past yearⁱⁱ. This makes it increasingly crucial for insurance providers to access accurate information on vehicles for more personalised and precise pricing. Through LexisNexis Vehicle Insights, Fastnet Underwriting will have streamlined access to current mileage and real-time vehicle valuation information based on listings data for registered vehicles.

Shane McCabe, insurance strategic account manager, Ireland, LexisNexis Risk Solutions, said: “We are delighted to have secured this contract with Fastnet Underwriting, right at the start of its journey, to help ensure its brokers are in the best position to offer competitive rates to motor insurance customers. Fastnet will now have swift access to essential vehicle data to enable fair pricing decisions that should satisfy consumers’ need for precision and speed during the underwriting process.” 

David Bolger, Chief Executive Officer of Fastnet Underwriting said: “LexisNexis Vehicle Insights, along with the Thatcham VRD, will enable us to make a broader and faster assessment of risk. With more and better data, we can be more precise with our pricing to put brokers at a competitive advantage when securing new motor insurance business.”

About Fastnet Underwriting
Fastnet Underwriting is a Managing General Agent (MGA) offering private motor insurance in the Irish market. The company is based in the IFSC with motor policies underwritten by AIG. The business has developed an innovative approach to underwriting, using the ID-PAL digital verification platform, data enrichment services from LexisNexis and others and the Risk Handler platform to facilitate smooth customer on-boarding and broker communication. They are committed to offering the highest level of service to brokers, backed up by a strong and experienced team. Products are distributed through the Irish insurance broker network.

About LexisNexis Risk Solutions

LexisNexis® Risk Solutions harnesses the power of data, sophisticated analytics platforms and technology solutions to provide insights that help businesses across multiple industries and governmental entities reduce risk and improve decisions to benefit people around the globe. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information-based analytics and decision tools for professional and business customers. For more information, please visit LexisNexis Risk Solutions and RELX.

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