LexisNexis Risk Solutions Launches Vehicle Build Product to Offer U.S. Insurers Much-Needed ADAS Details

LexisNexis Risk Solutions | June 19, 2020

LexisNexis® Risk Solutions, has announced the availability of LexisNexis® Vehicle Build, a solution that provides U.S. insurance carriers more accurate underwriting and auto insurance risk assessment and comprehensive information about the specific Advanced Driver Assistance Systems (ADAS) features equipped on a vehicle.

Automakers continually develop new ADAS features – sometimes releasing multiple within the same model year – and promote their efficacy in reducing accidents, but these features are often offered as an optional purchase to the car buyers. In addition, each automaker creates its own unique marketing name for its features for the sake of differentiation.  This variability in naming similar features, in combination with the difficulty in determining whether those features are actually equipped on a given vehicle, creates a challenge for insurers seeking to properly price the vehicles they underwrite. To address this challenge, LexisNexis Vehicle Build aggregates and normalizes even more specific manufacturing data than what is currently available at the 17-digit VIN number. The solution harnesses the proprietary LexisNexis ADAS Classification System, leverages the company's expertise in machine learning and advanced analytics, and seamlessly integrates the data into existing workflows, including LexisNexis® Auto Data Prefill.

Spotlight

Find out how Morgan Clark helped Kenneth & Carol with their house fire insurance claim. When a fire that started in a neighbouring property engulfed their home just a few days before Christmas, the couple called on a loss assessor to help. By working with Morgan Clark, who were recommended to them by the BBC Money Programme, Kenneth & Carol could get on with their lives, safe in the knowledge that their claim was being handled with their best interests in mind.  To find out more about how Morgan Clark can help with your home insurance claim, visit www.morganclark.co.uk/for-home-owners

Spotlight

Find out how Morgan Clark helped Kenneth & Carol with their house fire insurance claim. When a fire that started in a neighbouring property engulfed their home just a few days before Christmas, the couple called on a loss assessor to help. By working with Morgan Clark, who were recommended to them by the BBC Money Programme, Kenneth & Carol could get on with their lives, safe in the knowledge that their claim was being handled with their best interests in mind.  To find out more about how Morgan Clark can help with your home insurance claim, visit www.morganclark.co.uk/for-home-owners

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