Usage-Based Insurance analytics solution from LexisNexis will help consumers and insurers gauge driving behavior to create safer drivers via mobile app
ATLANTA, March 24, 2016 /PRNewswire/ — LexisNexis® Risk Solutions, a leading provider of data, analytics and technology, announced that Nationwide, one of the largest insurance and financial services companies in the United States, has selected the company to deliver the insurer’s next-generation insurance telematics program, SmartRide Mobile. This usage-based insurance program provides discounts for safe driving for members who choose to participate. All members save an average of 10 percent for joining, and can save up to a possible 40 percent after 6 months with no penalty for joining.
Nationwide partnered with LexisNexis Risk Solutions to provide a mobile application (app) option for its SmartRide program to existing and potential customers. Currently, volunteer SmartRide participants install a device into their car and earn discounts in 25 states. SmartRide Mobile will allow Nationwide members to participate by using an app on their smartphone. The company is initially adopting this offering in Arkansas with plans to roll the solution out to more states by year-end.
“We are 100 percent dedicated to bringing the most innovative solutions to our members,” Larry Thursby, VP, Property & Preferred Auto Product/Pricing at Nationwide said. “By adopting telematics solutions from LexisNexis, we are providing yet another avenue for our members to take charge of their rates and become the best and safest drivers they can be.”
The LexisNexis Risk Solutions end-to-end telematics program includes data collection, storage and processing, and also provides customers with a dashboard presentation and support so they can see their progress. LexisNexis Telematics uses proven proprietary algorithms to accurately detect when the insured is driving, contextual data, and advanced analytics to provide specific driver feedback.
“Telematics has huge value for customers as they look to earn even more affordable prices,” said Ash Hassib, SVP and GM, Auto and Home Insurance, LexisNexis Risk Solutions. “LexisNexis is at the cutting edge of data-gathering technology, data cleansing and normalization no matter the device. By adding smartphone capability to SmartRide, we can help Nationwide offer this program to even more of its members and help them become safer drivers.”
LexisNexis Risk Solutions offers the following telematics solutions:
Easy-to-use app. Simply download on a smartphone and drive
Highly engaging dashboard, dynamic scores and feedback
Comparable data quality at a reduced cost compared to OBDII solutions
Rapid go-to-market using the LexisNexis contextual scoring model currently available in 49 states
Improved consumer experience due to the solution’s limited use of the smartphone battery, data plan and easy set-up
Secure and in compliance with industry standards
Customer service and technical support
Leverages the LexisNexis big data technology platform, HPCC Systems®, to host, monitor, validate and analyze driving behavior data
About LexisNexis Risk Solutions
LexisNexis Risk Solutions (http://www.lexisnexis.com/risk/) is a leader in providing essential information that helps customers across industries and government predict, assess and manage risk. Combining cutting-edge technology, unique data and advanced analytics, LexisNexis Risk Solutions provides products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy. LexisNexis Risk Solutions is part of RELX Group, a world-leading provider of information and analytics for professional and business customers across industries.
About Nationwide Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poor’s. The company provides a full range of insurance and financial services, including auto, commercial, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; banking and mortgages; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com.
Nationwide, Nationwide is on your side, Join the Nation and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company.