DTPH TL
Follow Us
ITA MEMBERSHIP

MOBILITY

MOBILITY

LexisNexis Acquires UK-based Telematics Service

Staff Writer | May 20, 2014

LexisNexis Risk Solutions announces it is expanding its global usage-based insurance (UBI) solutions with the acquisition of Wunelli, an industry-leading telematics data services company based in the United Kingdom.

“Wunelli brings telematics expertise, solutions, scores and unique data assets, experience with hundreds of millions of miles of telematics data that can help advance our existing telematics offering and provide our customers with greater ROI, and faster speed to market,” says Bill Madison, CEO, Insurance, for LexisNexis. “With usage-based insurance projected to grow to approximately 15 to 30 percent of the global auto insurance market in the coming years, our customers have communicated an increased need for a variety of telematics solutions to help them attract safer drivers, improve retention and avoid adverse selection.”

 The combined LexisNexis and Wunelli datasets will result in one of the largest provider-held insurance telematics databases in the world, with solutions to support insurers as they assess risk, discount safer drivers and serve customers more effectively. 

Wunelli Director, Sandy Dunn, said:

“LexisNexis and Wunelli share a complementary vision to provide the most comprehensive risk assessment solutions available to the insurance industry, and we look forward to combining our offerings,” says Sandy Dunn, Wunelli director. “LexisNexis data and analytics expertise, fast linking technology and HPCC Systems platform will help our customers execute on their global telematics strategies, while offering them an unparalleled level of insurance telematics service and support.”

In the UK, recent research shows that although only four percent of drivers currently have telematics fitted to their vehicles, almost 20 percent would consider telematics at their next renewal. LexisNexis 2013 Insurance Telematics Study found that in the U.S. discounts are the number one driver for UBI enrollment. Fifty percent of consumers are likely to sign up for a 10 percent discount while 36 percent would actually change insurers for a 10 percent discount.

 

 

 


Featured articles

DTPH MR

Hyland MR 9 7 2018

ELECTRONIC CHAT

The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.

ITA LIVE 2019

The tide is up! It's time to register for ITA LIVE 2019, our annual educational and networking conference! Our theme is "The InsurTech Revolution: Cutting Through the Hype." and we'll be bringing in a torrent of industry thought leaders, amazing insight and wonderful perspectives on the world of insurtech and its impact on the insurance landscape.

ITA LIVE 2019 will present real-life examples of true startup technologies that are helping insurers gain real advantage -- and a competitive edge -- in the marketplace. We’ll highlight the more successful InsurTech partnerships, while offering case studies that demonstrate exciting innovation and cutting-edge techniques impacting all aspects of the insurance ecosystem.

Ride the wave to LIVE 2019. Sign up today! We look forward to seeing you in May, 2019!

BLOGS AND COLUMNS

only online

Only Online Archive

ITA Pro Buyers' Guide

Vendor Views

Partner News