LexisNexis Risk Solutions and TrueMotion have announced a new alliance providing insurers greater flexibility and consumer-focused UBI programs. Through this alliance, TrueMotion is joining the LexisNexis Telematics Exchange, which will allow insurance carriers who opt-in to take advantage of data from the industry and OEMs, make better decisions faster, and gain unique insights for competitive advantage.
The LexisNexis Telematics Exchange ingests and normalizes telematics data gathered from many data sources, including auto manufacturers (OEMs), 12-Volt, OBDII dongles and smartphone apps like that of TrueMotion. Once this data is compiled and normalized, LexisNexis then scores it using advanced analytics and predictive modeling specific to telematics to provide driving behavior insights for insurers. This allows insurers to access key data and analytics on drivers.