Aioi Nissay Dowa Insurance Company of America Enters Personal Lines Market with LexisNexis Insurance Solutions
LexisNexis Policy Decisions Personal Speeds Time to Market, Ensures Seamless Integration with LexisNexis Data and Analytics Solutions
February 22, 2011 — New York, NY – LexisNexis®, a leading provider of legal and risk management solutions today announced that Aioi Nissay Dowa Insurance Company of America is now using LexisNexis® Policy Decisions Personal, LexisNexis® Billing Decisions, LexisNexis® Reporting Decisions, and various data products to facilitate their expansion into the personal lines market. Aioi Nissay Dowa Insurance Company of America chose LexisNexis Policy Decisions Personal because of its pre-integration with LexisNexis data and analytics solutions, and because LexisNexis was able to quickly implement a hosted solution. Within six months Aioi Nissay Dowa Insurance Company of America was able to enter markets in multiple states with multiple lines of business including personal auto, homeowners and umbrella insurance.
Aioi Nissay Dowa Insurance Company of America is a subsidiary of Aioi Nissay Dowa Insurance Co., Ltd., one of the largest non-life insurers in Japan. The company has overseas operations in over 30 countries and, for more than 40 years, has specialized in commercial property, general liability and workers compensation insurance. In 2007, Aioi Nissay Dowa Insurance Company of America decided to expand their business by entering the personal insurance market. In order to ensure a successful entry, the carrier sought a policy administration partner with deep experience in personal insurance. Following an extensive search, Aioi Nissay Dowa Insurance Company of America selected LexisNexis.
"Aioi Nissay Dowa Insurance wanted a vendor that could accelerate our time to market in order to achieve a significant return on investment," said Martin Umezu, president and chief executive officer, Aioi Nissay Dowa Insurance Company of America. "LexisNexis committed an enormous amount of time and energy to ensure a successful implementation within a quick six-month turnaround. In addition, we were excited by the broader hosted solutions offered by LexisNexis, which allows us to maximize our relationships."
LexisNexis® Policy Decisions Personal is a proven, web-based personal lines platform that empowers carriers to streamline operational processes and reach new markets with feature-rich applications. From self-service quoting and purchasing to full end-to-end solutions, Policy Decisions Personal delivers an integrated, consistent and powerful solution.
In addition to Policy Decisions Personal, Aioi Insurance Company of America uses LexisNexis® Billing Decisions, LexisNexis® Reporting Decisions. LexisNexis Billing Decisions offers a suite of configurable workflow and rules capabilities to provide insurance billing support. LexisNexis Reporting Decisions leverages proven enterprise-level technologies from Microsoft to provide tools for insurers to gain insight into their data and turn it into direct action. Aioi Nissay Dowa Insurance Company of America also uses a variety of data products from LexisNexis including Automobile Liability Insurance Reporting, Financial Institution Reporting, C.L.U.E.® Auto, C.L.U.E.® Property, Current Carrier®, LexisNexis® Data Prefill Auto and Data Prefill Property.
"We were pleased to work with Aioi Nissay Dowa Insurance Company of America as they expanded their business into the personal lines market," said Bob Larew, vice president of insurance software for LexisNexis. "LexisNexis was able to execute on the aggressive rollout schedule laid out by Aioi Nissay Dowa Insurance Company of America and we are continuing to work with them to provide excellence both with our solutions and our team."
With its customizable and highly configurable features, Policy Decisions Personal provides clients with new opportunities to make operational improvements, opening the door to new markets and improving customer satisfaction. Policy Decisions Personal delivers real-time policy transaction processing to provide carriers with real-time access to current policy data across distribution channels. Additionally, the solution helps decrease time to market with an extensive self-service toolset and capabilities to configure and customize rating, user interface, workflow, security and more.
About Aioi Nissay Dowa Insurance Company of America
Aioi Nissay Dowa Insurance Company of America is a wholly owned subsidiary of Aioi Nissay Dowa Insurance Company, Limited of Tokyo, Japan (Aioi Nissay Dowa Japan). Aioi Nissay Dowa Japan is one of Japan's major insurance companies and maintains a strong business relationship with Toyota Motor Corporation and Nippon Life Insurance Company. Through its domestic subsidiaries and affiliates, Aioi Nissay Dowa Japan also offers life and personal insurance, operates nursing care facilities and provides various insurance support services. Aioi Nissay Dowa Japan boasts a comprehensive nationwide network of over 580 sales offices under approximately 140 sales branch offices and more than 250 claim service centers/offices throughout Japan. This network helps the Company develop products and services tailored to evolving consumer demands. Aioi Nissay Dowa Japan's overseas network provides diversified insurance services and consists of subsidiaries and branches in key cities in Asia, Australia, North America, and Europe and offices of allied local insurers around the world. Aioi Nissay Dowa Japan also operates representative offices in over 20 major cities worldwide to assist policyholders who travel, live, or work abroad.
In April 2010, Aioi Insurance Company, Ltd., Nissay Dowa General Insurance Company and Mitsui Sumitomo Insurance Group formally announced plans to integrate using a holding company structure to become a world-class insurance and financial group. The new holding company is named "MS&AD Insurance Group Holdings" (www.ms-ad-hd.com). This name was derived from the initials of Mitsui Sumitomo Insurance, Aioi Insurance, and Nissay Dowa General Insurance.
LexisNexis® (www.lexisnexis.com) is a leading global provider of content-enabled workflow solutions designed specifically for professionals in the legal, risk management, corporate, government, law enforcement, accounting, and academic markets. LexisNexis originally pioneered online information with its Lexis® and Nexis® services. A member of Reed Elsevier [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), LexisNexis serves customers in more than 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 35 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 www.lexisnexis.com/risk/.