CIOReview
CIOREVIEW >> Banking & Insurance >>

Lexisnexis Announces Attract for Telematics Predictive Models

By CIOReview | Friday, March 14, 2014

FREMONT, CA: LexisNexis Risk Solutions, a provider of risk management, fraud prevention, background checks, public records, and identity management solutions has launched LexisNexis Attract for Telematics, a suite of predictive models for the auto insurers. This software gives scores based on two aspects: individual driving behavior across different vehicles and the way vehicles are used by multiple drivers. The results are then based on the individual driver, individual vehicle or on the household level.

Attract for telematics, a part of end to end telematics software helps in data collection, processing, scoring and storage. It acts as a white-label mobile application for smartphones; a white-label consumer-facing dashboard; and customer support. The software also helps the insurers by reducing their implementation time and effort.

“By separating out the different risk components of the driver and the vehicle, we get a deeper level of understanding on true driving behavior that a vehicle-based score alone cannot provide. Using Attract for Telematics gives insurers both greater insight and more flexibility to incorporate telematics data into their products,” said Ash Hassib, Senior Vice President and General Manager, Auto Insurance, LexisNexis.