LexisNexis News

Auto Insurance Shopping Rebounds After Dropping During Spring

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 little impact on the annual shopping rate, …

How Coronavirus Has Affected Auto Insurance Shopping

This year began with auto insurance buyers shopping around more than ever but by mid-March shopping began to slow down before returning to normal a few weeks later. According to the data firm LexisNexis, shopping has closely mirrored other pandemic …

Weather, Wildfire Claims an Increasing Share of Home Insurance Losses

U.S homeowners insurers saw an increase in both the number of losses and the percentage of those losses that resulted from an extreme weather event during 2017. According to a LexisNexis Home Trends report, loss costs increased 19 percent from …

Despite Rise in Catastrophe Losses, Home Insurance Loss Costs Declined in Recent Years

In 2016, Colorado and Texas homeowners suffered the greatest percentage of catastrophic losses due to extreme weather and other perils, according to a study of home insurance trends. The six-year LexisNexis Risk Solutions study indicates that despite the rise of …

Homeowners Insurance Claims, Loss Costs Declining, LexisNexis Report Finds

A study of home insurance trends reveals good news for home insurance carriers: homeowner claims continue to decrease and loss costs are flat or on the decline. The 2016 LexisNexis Home Trends Report notes that while the U.S. has already …

LexisNexis Risk Solutions to Acquire Crash and Project Business Group Appriss

LexisNexis Risk Solutions, part of RELX Group, announced it is acquiring the Crash and Project business group Appriss, a public safety business that provides technology solutions for the efficient collection of crash reports and electronic citations. LexisNexis will utilize the …

3 Examples of How Telematics Can Aid Insurance Claims Handling

While information derived from usage based insurance telematics hasn’t been fully utilized in the claims process, the benefits it can provide – consistency, efficiency and accuracy – offer a way to reduce claims costs. David Lukens, LexisNexis director, says telematics …

Usage-Based Insurance Overcoming Privacy Concerns, Gaining Traction

Consumers as well as commercial fleet managers are becoming more accepting of usage-based insurance (UBI) in which a telematics device is used to track driving behavior as safety and savings benefits appear to be trumping concerns over privacy. Personal auto …

LexisNexis, BuildFax Collaborate to Expand Homeowners Insurance Information

LexisNexis Risk Solutions has formed a strategic relationship with BuildFax to assist homeowners insurance companies with the challenges associated with insuring homes. Through this relationship, insurers will be able to acquire building permit information to enhance their ability to identify, …

A Year Later: Growth and Outlook of LexisNexis Insurance Exchange

The LexisNexis Insurance Exchange — an online single-entry submission system that streamlines the flow of application data among agents, brokers and carriers — celebrated its first anniversary last month. The Exchange, conceived by the Council of Insurance Agents and Brokers …