Insurance Risk Scores

Accurately rate risk using insurance scores

Harness 20+ years of experience in leveraging a variety of data sources, including credit reports, to improve underwriting, pricing, renewal and other decisions. Insurance scores combine the predictive power of the available data into meaningful measures that rank insurance risk, which can significantly augment the accuracy of statistical models and the effectiveness of decisions.

There are several advantages to working with LexisNexis on insurance risk scores over working with data providers and an internal modelling team alone.

  • Better models – LexisNexis has years of analytical experience in helping insurers to work out how best to use the vast array of data, including credit data, in setting insurance prices. Unlike a credit score, which is tuned to the risk of credit default, a LexisNexis insurance score is custom-built to your circumstances – for example, explaining the component of your claims cost not yet explained by your current models.
  • More future proof – By sourcing your credit data and other third-party data through LexisNexis, you can reduce the number of external data links you will need to set up, test and maintain. A wealth of data will be available from our industry-leading HPCC-powered (link to http://hpccsystems.com/) transactional platform, guaranteeing high match rates, rapid response and high uptimes at very high query volumes.
  • Better price – LexisNexis is commonly able to secure a better price on external data than discrete companies can obtain directly, given our business of sourcing data in large volumes on behalf of multiple insurers.

Contact

Swati Vikram
+91 77381 28556

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