Benefits
Non-Compliance is an Expensive Business
States can levy fines and suspend a carrier's ability to write business. And then there is the major problem of having an insured's vehicle impounded if they do not have proof of coverage reported electronically to the state. It happens. It puts the carrier in a no win situation—loss of business and law suits follow. A tarnished reputation among State Departments of Insurance, insured's and agents takes years to repair.
Today, more than 30 states require insurance companies to report motor vehicle insurance information to their Department of Motor Vehicles. The states require the information to ensure that uninsured motorists are brought to task and law enforcement has the information it needs when attending accident scenes or conducting traffic stops. Depending on the state, these requirements can apply to both personal policies as well as the complex commercial auto reporting requirements.
Unfortunately there are no nationwide reporting standards. Rather, each state sets its own rules and the burden to comply with these falls squarely on the insurance carrier. LexisNexis has a comprehensive solution ready to solve these issues.
You Supply the Data - We Take Care of the Rest
LexisNexis Risk Solutions takes data from either a batch feed or through our comprehensive web user interface and converts the data into the required format for each state. The data is then reported to the state Departments of Motor Vehicle according to their requirements. The user can then review any errors received back from the state through the web interface for subsequent correction and retransmission.
Get it now: For more information about LexisNexis® DMV Reporting, call 800.869.0751.
Features
- Automated processing ensures seamless integration entry to state receipt
- New business, endorsements, cancellations, reinstatements, and verifications are all covered
- Contains a comprehensive list of user reports showing daily and weekly activity with an online audit capability for data transmissions reconciliation and VIN tracking
The latest version of the DMV Reporting solution now offers more robust functionality and scalability. Improvements include:
- Detailed audit controls throughout the system
- Improved transactional history tracking
- User friendly screens with optimized response time
- Fully automated processing with seamless error tracking
- Simplified management of users/branches, quick customer configuration and new user setups
The end result is a system that delivers exceptionally high performance over the Internet.
Get it now: For more information about LexisNexis® DMV Reporting, call 800.869.0751.
