LexisNexis Risk Solutions announced that General Motors has selected the LexisNexis Telematics Exchange, a device-agnostic telematics ecosystem, as its preferred portal for sharing consumer-approved connected-car data with insurers.
The mission of the Telematics Exchange is to help save consumers time and money, and enhance safety with programs such as proactive, personalized insurance-discount offers and safe-driving initiatives, according to LexisNexis Risk Solutions. Consumers can apply for safe-driver discounts, based on their driving behavior. This only can occur with the driver’s consent, and only when they enroll in specific programs.
Automakers are adding consumer-approved connected-car data into the LexisNexis Telematics Exchange, which then normalizes the data so it can be more seamlessly integrated into participating insurers’ usage-based insurance (UBI) programs. Consumers can benefit from insurance offers and discounts based on safe driving behavior and habits that take care of their cars and the people in them.
“Our exchange platform enables automakers and insurers to maintain UBI program continuity regardless of the data sources used and future technological disruptions. Having GM select our Telematics Exchange illustrates their commitment to the future of mobility,” said Adam Hudson, general manager and senior director, connected car, LexisNexis Risk Solutions. “As a leading automaker and a pioneer in automotive connectivity, safety and security through OnStar, we’re excited to enable GM to more seamlessly work with insurers to provide the best solutions for their drivers.”
Collectively, LexisNexis Risk Solutions has more than 125 years of experience in automotive, telematics and technology, and is embedded into insurance workflows, including 95 of the top 100 U.S. personal-lines insurers. In addition, 85% of U.S. auto insurers use a LexisNexis prefill solution, according to the company.