The No Claims Discount module (NCD) for LexisNexis® Policy History Motor automates the verification and validation process for insurers, providing efficient access to credible data, helping insurers to meet consumer demands while minimizing risk.
No claims discount is a significant rating factor used in underwriting motor insurance policies. Our research has highlighted a significant number of UK consumers think it acceptable to omit or adjust their claims histories to obtain a better price on their motor insurance.
Insurers in this instance can find themselves exposed to unforeseen risk.
Using our Big Data technology we provide you highly reliable data in real-time, giving you the most up-to-date information for evaluating and pricing risk. In addition, application fraud is reduced and confidence is improved from the time of quote.
No Claims Discount module for LexisNexis® Policy History Motor can help insurers realise significant cost savings and increase their market competitiveness. The fully automated verification and validation process allows insurers to:
Accessing the service is simple:
LexisNexis has provided preeminent data and analytic solutions to insurance professionals. We stringently adhere to best practices, respecting data protection and ensuring strict compliance and excellent service. Some examples of best practices regarding No Claims Discount Module include:
25% of consumers think that some omission or adjustment of information is acceptable in order to reduce premiums when applying for motor insurance.