LexisNexis Announces Telematics Mobile App for UBI
LexisNexis® Risk Solutions today announced the launch of LexisNexis® Telematics Mobile, a white-label mobile application (app) for smartphones to capture and transmit information about driving data. LexisNexis Telematics Mobile helps address cost barriers created by high in-car telematics device costs.
“Today’s telematics solutions have high costs with unknown returns that prevent carriers from creating forward-thinking telematics programs that can position their businesses for the long term,” said Ash Hassib, Senior Vice President and General Manager, Auto Insurance, LexisNexis. “LexisNexis Telematics Mobile provides a cost-effective, flexible telematics solution that can help get to market quickly and increase return on investment.”
LexisNexis Telematics Mobile is an end-to-end telematics solution that includes data collection, storage, processing, as well as dashboard presentation, information disclosure and customer service. The solution provides driver-specific behavior data, not just vehicle data, providing more granular information than what is available through an OBDII-only solution. Additional benefits include:
- Up to 70 percent less than the cost of traditional OBDII solutions
- Data on both individual driver behavior and vehicle usage
- Limited use of the smartphone battery and data plan
- Compatibility with both Android and Apple mobile devices, which are already in 81 percent of U.S. households*
- Ability to be integrated with existing app suites for a seamless customer experience
“70% of insurers are in some phase of creating a UBI program but list high cost as their biggest challenge,” said Mark Breading, Partner, Strategy Meets Action. “The smartphone provides insurers with a new option to address that challenge while opening the door to new opportunities at the same time.”
Learn more about Insurance Telematics Mobile.
*According to 2013 LexisNexis Insurance Telematics Consumer Study
About LexisNexis Risk Solutions
LexisNexis Risk Solutions (www.lexisnexis.com/risk/) is a leader in providing essential information that helps customers across industries and government predict, assess and manage risk. Combining cutting-edge technology, unique data and advanced analytics, LexisNexis Risk Solutions provides products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy. LexisNexis Risk Solutions is part of Reed Elsevier, a leading global provider of professional information solutions across a number of sectors. Our insurance solutions assist insurers with automating and improving the performance of critical workflow processes to reduce expenses, improve service and position customers for growth.