LexisNexis Risk Solutions Assists Insurers in Moving Claims Faster, With Confidence
LexisNexis Risk Solutions, a leading data and analytics provider for the insurance sector, announced the launch of its Claims Clarity solution, designed to enhance claims processing by offering real-time data insights. This innovative tool allows insurers to make quicker decisions by integrating vast data sources, providing a comprehensive view of claims-related parties and vehicles. The alliance with Shift Technology further enhances this solution by predicting fraud and risk effectively. This development aims to improve operational efficiency and the claimant experience amidst ongoing staffing challenges in the industry.
- Launch of Claims Clarity solution enhances claims processing efficiency.
- Integration with Shift Technology improves fraud prediction capabilities.
- Offers real-time data insights for quicker decision-making.
- Increases overall accuracy and visibility in claims handling.
- None.
ATLANTA, Feb. 24, 2022 /PRNewswire/ -- LexisNexis® Risk Solutions, a leading provider of data and analytics for the insurance industry, announced that its recently launched LexisNexis® Claims Clarity solution is providing insurers with greater confidence to fast-track claims using real-time data insights, coming to decisions faster and further enhancing the claims customer experience.
In addition to drawing data from claims history and police reports, Claims Clarity provides key attributes to adjusters from public records. This additional set of attributes provides a more complete understanding to adjusters of the first party, third party and vehicles involved in a claim, enabling carriers to fast-track or triage claims with a clear line of sight.
"At LexisNexis Risk Solutions, we spend a lot of time speaking with insurers about claims triage, because if done right, fast-tracking claims greatly streamlines their processes while simultaneously improving the claimant/customer experience," said Tanner Sheehan, vice president and general manager, U.S. claims, LexisNexis Risk Solutions. "With the right data integrated at the first notice of loss, adjusters don't have to belabor straight-forward, non-injury claims, and can instead confidently apply focus where it's meaningful."
In addition to greater visibility into the parties and vehicles involved in a claim, Claims Clarity:
- Is fast. It delivers actionable data in real-time into the claims workflow, avoiding delays associated with batch processes, and there is no need to step outside of the workflow to access it.
- Is robust. It leverages a more robust and expansive set of data, drawing from multiple sources and spanning the entire claims process, from triage through subrogation.
- Delivers more accurate data. Driven by LexisNexis Risk Solutions proprietary linking technologies and in combination with its unique identifier LexID®, carriers can operate with confidence that they're evaluating and acting on the right information for a claim's parties and vehicles.
Recently, LexisNexis Risk Solutions and Shift Technology announced an alliance that enables insurance carriers to seamlessly incorporate Claims Clarity data and analytics into Shift's insurance decisioning artificial intelligence (AI) models. As a result, carriers are better able to predict fraud and risk at the first notice of loss.
"We know data holds the key to setting everything into motion quickly," said Frank Cesario, director, U.S. claims, LexisNexis Risk Solutions. "When you combine the fact that more consumers than ever before prefer the virtual claims process with the ongoing staffing shortages our customers continue to experience, insurers who can quickly adapt stand a greater chance to outpace competitors."
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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.
Contacts:
Chas Strong
Director, Communications
LexisNexis Risk Solutions
+1.706.714.7083
Charles.Strong@lexisnexisrisk.com
Mollie Holman
Brodeur Partners for LexisNexis Risk Solutions
Phone: +1.646.746.5611
mholman@brodeur.com
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SOURCE LexisNexis Risk Solutions
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