LexisNexis® Intelligence Exchange Risk InsightsImprove underwriting performance, increase profitability and reduce exposure to fraud
Relying on unverified self-declared customer data in insurance underwriting is a significant risk. The inability to obtain a granular view of the risk being insured adds to operating losses, damaging business profitability and brand reputation.
Research conducted by Indiaforensic in 2012 discovered Fraud alone sets the insurance industry back by $6.25bn per year, about 9% of premiums.
LexisNexis® Intelligence Exchange Risk Insights is designed to help life insurers overcome these challenges and achieve the right balance between risk and reward.
Powerful data insights enable accurate underwriting and claims decisioning, using historical policy and claims records, including information related to previously declined applications.
- Get an accurate and complete picture of the risk you underwrite
- Reduce fraud, waste and abuse to improve profitability
- Improve business efficiencies with workflow automation
- Scale your business by tapping into new distribution channels
- Powerful data insights delivered in sub second response times
- Reduced integration and maintenance costs by accessing all future LexisNexis products simultaneously in one real-time query
- Covers a comprehensive range of information including the insured person, proposer, nominee, legal guardian and seller
- View a simplified summary of the results for quick and easy analysis
- Data available at the point of insurance underwriting or for post sale checking
- Automated transactions directly delivered to your pricing, underwriting and fraud teams
- LexisNexis Intelligence Exchange is powered by HPCC Systems; LexisNexis’s proven High Performance Computing Cluster, delivering millions of daily transactions in real-time