LexisNexis Risk Solutions Launches C.L.U.E Auto Damage 360 to Help Insurers Improve Rating and Underwriting Processes
- C.L.U.E. Auto Damage 360 helps insurers find 5% more current owner and 27% more prior owner damage events.
- Additional insights into the vehicle, owner, and previous owner(s) allow carriers to identify unreported events and improve rating and segmentation.
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C.L.U.E. Auto Damage 360 helps find incremental damage events that are crucial to risk assessment
Single-vehicle incidents, small fender benders and other accidents happen every day, but many go unreported. C.L.U.E. Auto Damage 360 extends the reach of C.L.U.E. Auto to help capture more of those unreported incidents. This enhanced feature brings together data from C.L.U.E. Auto reports, including seven years of personal claims data from hundreds of millions of claims, with incremental data from sources such as police records and other vehicle-specific sources that indicate vehicle damage. Additionally, through LexisNexis Risk Solutions extensive policy history, it can more accurately associate damage events with current and prior owners. The ability to leverage additional information from LexisNexis® Vehicle History and police record data into current processes and rate plans helps allow for better rating and segmentation.
"We're always looking for ways to improve and innovate, and these new features that augment C.L.U.E. Auto help carriers see what they're missing from an even more granular standpoint, whether it's duplicate records or outdated ownership change dates for newly acquired vehicles," said John Kanet, senior director, auto insurance, LexisNexis Risk Solutions. "With numbers of drivers on the road and miles driven nearly back to pre-COVID levelsi it's critical to have as much vehicle and driver information available as possible. C.L.U.E. Auto Damage 360 maximizes C.L.U.E. Auto, helping insurers find
LexisNexis Risk Solutions internal studies show that a vehicle involved in an accident has a
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,
Media Contacts:
Chas Strong
LexisNexis Risk Solutions
Phone: +1.706.714.7083
Charles.Strong@lexisnexisrisk.com
Alex Jafarzadeh
Brodeur Partners for LexisNexis Risk Solutions
Phone: +1.617.587.2846
darmstrong@brodeur.com
i 2022 LexisNexis US Auto Trends Report
ii LexisNexis® Risk Solutions internal study
iii LexisNexis® Risk Solutions internal study
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SOURCE LexisNexis Risk Solutions