Ford Motor Company and LexisNexis Risk Solutions Join Forces to Help U.S. Drivers Maximize Connected Vehicle Benefits

Rhea-AI Summary

LexisNexis Risk Solutions and Ford Motor Company announced a strategic agreement to provide U.S. auto insurers access to Ford connected vehicle data. This initiative aims to enhance usage-based insurance (UBI) programs for Ford and Lincoln drivers of eligible 2020 models, potentially lowering their insurance costs through personalized offerings. The partnership allows insurers to better segment risk using driving behavior insights gleaned from the LexisNexis Telematics Exchange, benefiting consumers seeking cost savings in vehicle ownership.

Positive

• Strategic agreement enhances insurance options for Ford vehicle owners.
• Potential for reduced vehicle ownership costs through personalized insurance offerings.
• Access to driving behavior insights allows for improved risk segmentation by insurers.

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• None.

ATLANTA and DETROIT, Sept. 9, 2021 /PRNewswire/ -- LexisNexis® Risk Solutions and Ford Motor Company today announced they have entered into a strategic agreement so that Ford connected vehicle data can be available to U.S. auto insurers via the LexisNexis® Telematics Exchange. Ford and Lincoln customers with an eligible 2020 model year or newer vehicle can opt in to participate in usage-based insurance (UBI) programs, which has the potential to save customers money through more personalized insurance offerings.

"We're excited about this agreement with Ford," said Adam Hudson, vice president and general manager, U.S. Connected Car, LexisNexis Risk Solutions. "As a trusted steward of data for more than 20 years, LexisNexis Risk Solutions continues to bring the insurance and automotive industries together with market-leading solutions to provide consumers with a better experience during insurance shopping and renewal. We want to continue delivering on our mission of providing unparalleled driving-related insights and benefits to insurers, automakers and their drivers."

"Ford owners who opt-in to usage-based insurance have the potential to reduce their total cost of vehicle ownership through more personalized insurance offerings and be rewarded for good driving habits," said Kari Novatney, General Manager, Connectivity Strategy & Partnerships, Ford Motor Company. "LexisNexis Risk Solutions is helping Ford customers more easily pursue the advantages of their vehicle's connectivity for potential insurance benefits."

LexisNexis Risk Solutions ingests and normalizes connected car data through its data platform, the LexisNexis Telematics Exchange, to create driving behavior insights for U.S. insurance carriers to use within their existing auto insurance workflows. This enables insurers to more accurately segment risk, while providing consumers the opportunity to reduce the overall cost of vehicle ownership by taking advantage of good driving behavior. By leveraging data sourced through the Telematics Exchange, insurers can have an easier path to access driving behavior data for point of quote, underwriting and renewal, whether or not they have an existing insurer-led UBI program.

LexisNexis Risk Solutions works with 95 of the top 100 U.S. auto insurers. Its U.S. Connected Car business offers telematics solutions and advanced analytics, including LexisNexis® Telematics OnDemand and its next-generation LexisNexis® Drive Metrics scores, which allow insurers to seamlessly leverage driving behavior insights during the insurance shopping process at the point of quote, as well as at underwriting and renewal. Click here for more information on LexisNexis® Telematics.

Click here for more information on LexisNexis data solutions for automakers.

About LexisNexis Risk Solutions
LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information-based analytics and decision tools for professional and business customers. For more information, please visit www.risk.lexisnexis.com and www.relx.com.

About Ford Motor Company
Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, that is committed to helping build a better world, where every person is free to move and pursue their dreams. The company's Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for and deepen the loyalty of those customers. Ford designs, manufactures, markets and services a full line of connected, increasingly electrified passenger and commercial vehicles: Ford trucks, utility vehicles, vans and cars, and Lincoln luxury vehicles. The company is pursuing leadership positions in electrification, connected vehicle services and mobility solutions, including self-driving technology, and provides financial services through Ford Motor Credit Company. Ford employs about 186,000 people worldwide. More information about the company, its products and Ford Motor Credit Company is available at corporate.ford.com.

Media Contacts: 
Regina Haas
LexisNexis Risk Solutions
Phone: +1.678.896.1463
regina.haas@lexisnexisrisk.com

Dean Carney
Brodeur Partners for LexisNexis Risk Solutions 
Phone: +1.646.746.5607
Dcarney@brodeur.com 

Martin Gunsberg
Ford Motor Company 
Phone: +1.313.316.5319 
mgunsber@ford.com

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SOURCE LexisNexis Risk Solutions

FAQ

What is the strategic agreement between LexisNexis and Ford Motor Company?

LexisNexis and Ford entered a strategic agreement to provide U.S. auto insurers access to Ford connected vehicle data, enhancing usage-based insurance options.

How can Ford drivers benefit from the LexisNexis agreement?

Ford drivers can potentially lower their insurance costs through personalized offerings by opting into usage-based insurance programs.

What data will LexisNexis use from Ford vehicles?

LexisNexis will use connected vehicle data to create driving behavior insights for U.S. insurance carriers.

When was the agreement between LexisNexis and Ford announced?

The agreement was announced on September 9, 2021.

What is the stock symbol for RELX?

The stock symbol for RELX is RELX, traded on the LSE and NYSE.