Peter C. Lynch Named Head of LexisNexis Insurance Exchange
New York, NY (May 18, 2010) – LexisNexis Risk Solutions today announced the appointment of Peter C. Lynch as head of the LexisNexis® Insurance Exchange. In his new role, Mr. Lynch is responsible for the executive leadership, strategic vision, and policies and procedures for the exchange. The LexisNexis Insurance Exchange is a new business and remarketing placement system that enables the flow of data and documents between brokers and carriers. Currently in development, the exchange will combine both technology and information at each of the key workflow steps of the insurance transaction process to reduce redundant work and costs, as well as to enable agents and brokers to offer clients a broader choice of insurance products.
"LexisNexis Risk Solutions has committed to improving the efficiency and transparency of the insurance distribution system by investing in the LexisNexis Insurance Exchange through our people, resources and technology," said Jeffrey Glazer, senior vice president of LexisNexis® Insurance Solutions. "With more than 20 years of insurance and technology expertise, Peter is a natural leader to execute the exchange development and launch, and to continue our alliance with The Council for Agents and Brokers in this important industry effort."
Most recently, Mr. Lynch led strategic product and services for LexisNexis Insurance Solutions, overseeing both the development and marketing of the company’s portfolio of claims services. In addition, Mr. Lynch was responsible for exploring new international opportunities across the LexisNexis Insurance Solutions business. He joined ChoicePoint, now a part of LexisNexis, in 2005.
Prior to ChoicePoint, Mr. Lynch served as senior vice president and general manager of AIG Technologies (AIGT). He also served in product management for the company’s insurance software division. Previously, Mr. Lynch was president of Cover-All Technologies. Mr. Lynch is a graduate of Cornell University and received an MBA from the University of Houston.
The LexisNexis Insurance Exchange is the result of an alliance formed through The Council for Insurance Agents and Brokers, MarketCore and LexisNexis to improve the efficiency and transparency of the intermediary distribution system and ensure all types and sizes of industry participants can utilize its services. Pilot programs for commercial lines are scheduled to begin in the fall of 2010, with full production scheduled for early 2011.
LexisNexis® (www.lexisnexis.com) is a leading global provider of information and services solutions, including its flagship Web-based Lexis® and Nexis® research services, to a wide range of professionals in the legal, risk management, corporate, government, law enforcement, accounting and academic markets. A member of Reed Elsevier [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), LexisNexis serves customers in 100 countries with 15,000 employees worldwide.
About LexisNexis Risk Solutions
LexisNexis® Risk Solutions is the leader in providing essential information that helps advance industry and society. Building on the legacy of proven LexisNexis® services from the past 30 years, our cutting-edge technology, unique data and advanced scoring analytics provide total solutions that address evolving client needs in the risk sector while upholding high standards of security and privacy. LexisNexis Risk Solutions serves commercial organizations and government agencies and is comprised of several affiliated corporations, each offering premier customer-focused solutions. For more information, visit lexisnexis.com/risk/.
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