LexisNexis Global Telematics has introduced multi-language capability in its platform. Global insurers expanding their telematics propositions into new territories can now take advantage of this capability of the LexisNexis Global Telematics Platform from insurance data analytics and telematics leader LexisNexis Risk Solutions.
The new multi-language capability has the ability to play a critical role in the global expansion of telematics as insurers around the world look to leverage the insights gained from Usage-Based Insurance (UBI) to improve rating and reduce claims losses. The global automotive telematics market is forecast to have a compound annual growth rate of 22.1% between 2017 and 2025.
LexisNexis Risk Solutions supports global insurer telematics propositions in key insurance markets including the UK, US, Spain, and Brazil. LexisNexis has developed the capability for its telematics platform to be translated into each country’s primary language with the ability to add new languages as required. This capability also allows insurers to offer different languages in order to communicate with their customers in the language they prefer.
The LexisNexis Global Telematics Platform, houses data from insurers, OEMs and other after market data sources. LexisNexis cleanses, normalizes and filters data ingested as part of insurers’ UBI programs. This approach helps insurers take advantage of more data available through the LexisNexis Telematics Exchange ecosystem and helps maintain insurers’ UBI programs continuity regardless of the data sources used and future technological disruptions.