LexisNexis® Vehicle Insights
Improve pricing accuracy and reduce losses through a unique, one-stop-shop of data enrichment for the entire U.K. car parc
LexisNexis® Vehicle Insights offers real-time information on a vehicle’s status, value and history, including how well it’s been maintained and how changes in vehicle valuations across the car parc affect a book of business. Access granular data on the vehicle to enhance pricing, underwriting and risk prediction in motor insurance and deliver a more personalised experience to customers from quote to claim.
How can LexisNexis® Vehicle Insights help your business?
U.K motor insurance providers need to understand more about the specific vehicles they are insuring in order to price fairly and accurately while reducing their loss costs.
LexisNexis® Vehicle Insights offers a new level of intelligence on every vehicle in the U.K car parc. It currently comprises four different data modules that can work separately or in combination to provide a full picture of a specific vehicle.
With industry-wide information, from a single source, LexisNexis Vehicle Insights supports accurate, consistent underwriting in real-time, enhancing the customer experience and improving risk assessment, all delivered through a choice of different data modules that easily integrate into your workflows:
Vehicle Passport
Helps improve profitability and the customer experience by combining past vehicle adverts, MOT history and keeper changes, to create a timeline of information to support claims and underwriting teams.
Vehicle Status
Supports a smoother customer journey by providing the current status of the vehicle in real-time, including make, model, mileage, age and engine capacity as well as if it has a valid MOT and road tax.
Behavioural Intelligence
Make more accurate decisions and improve profitable underwriting through a true understanding of how the policyholder manages their vehicle and its ongoing requirements.
Vehicle Valuer
Price more accurately, improve the application process and support a superior claims experience with access to real-time mileage and valuation information for all vehicles across the U.K
Improve pricing and underwriting accuracy with more detail on the vehicle. From one source, customers can be offered more personalised pricing at new business and renewal, supporting greater retention rates.
Enhance the customer experience, through more intelligence on the vehicle at the point of quote, mid-term adjustment or claim. This can help avoid friction in post-sale checks or during the claims process, streamlining the customer journey.
Reduce the risk of application and claims fraud, through deeper and wider validated data on the vehicle at point of quote or claim, tackling the problem of mis-statements and non-declarations concerning the vehicle.
Improve efficiencies and reduce claims processing. No more calling out for data from multiple sources to enrich or validate customer provided data about the vehicle.
Enhance risk assessment and modelling, through new insight on the risk appetite of the driver as well as the risk associated with the past history of the vehicle.
Explore the Power of LexisNexis® Vehicle Insights and LexisNexis Vehicle® Build in Combination
LexisNexis® Vehicle Insights can be used on its own or in combination with LexisNexis Vehicle® Build to confirm the presence and performance of ADAS features. This will offer a greater insight on the vehicle when it comes off the production line and for every day of its life to date.
Yes, I'd like to learn more about Vehicle Insights
Please call +44 (0)800 130 3002 or complete the form and we will be in touch shortly to discuss your requirements.
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Vehicle Build
Understand the true benefits of ADAS in relation to risk at a VIN level with LexisNexis® Vehicle Build.
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Policy Insights
Better identify risk and price more accurately through granular insights into an individual's policy history.
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NCD Module
Price more accurately and achieve significant operational savings through automatically validating a consumers NCD history
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LexisNexis® Quote Intelligence
Understand quote manipulation to help improve loss ratios and reduce fraud