Intelligence Exchange

Improve underwriting performance, increase profitability and reduce exposure to fraud

Tackling policy inception and claims fraud in life insurance is a significant industry challenge. Using unverified self-declared customer data at the point of underwriting and at the point of claim adds to operating loses damaging business profitability. Research conducted by Indiaforensic in 2012 discovered Fraud alone sets the insurance industry back by $6.25bn per year, about 9% of premiums.

LexisNexis® Intelligence Exchange is contributory database which is designed to help Life insurers achieve the right balance between risk and reward. Powerful, real-time data insights enable you to make critical business decisions faster. Underwriting new risks or settling claims is made easier using historical policy and claims records, including information related to previously declined applications.

  • Get an accurate and complete picture of the risk you underwrite
  • Reduce fraud, waste and abuse to improve profitability
  • Improve business efficiencies with workflow automation
  • Scale your business by tapping into new distribution channels
  • Get ahead, stay ahead – data is delivered in sub second response times
  • Reduce integration and maintenance costs by accessing all LexisNexis products simultaneously in one real-time query
  • Covers a comprehensive range of information including the insured person, proposer, nominee, legal guardian and seller
  • Contains information on Diagnostic Centers and Claims Investigators.
  • A query response service provides insights on Policy, Riders, Lapsation and Reinstatement History, Surrender or Claims History as applicable for each policy holder
  • View a simplified summary of the results for quick and easy analysis
  • Results delivered in real-time at point of underwriting, or as batch post-sale, providing your business with the flexibility for automated transactions directly to your pricing, underwriting and fraud teams
  • LexisNexis Intelligence Exchange is powered by HPCC Systems; LexisNexis’s proven High Performance Computing Cluster, delivering millions of daily transactions in real-time

Contact

Swati Vikram
+91 77381 28556

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