New U.S. Telematics Scoring Model Achieves 79% Lift Above Standard Rating Factors, Testing Available via LexisNexis Telematics OnDemand
This new scoring model will be available for testing through LexisNexis Telematics OnDemand and is designed to flow seamlessly into insurers\' existing auto insurance ratings programs to help improve segmentation, pricing risk and profitability.\nTelematics OnDemand will be the first LexisNexis Telematics Exchange product to offer scores using the new Drive Metrics telematics scoring model which leverages analytics applied to driving behavior data.
- This new scoring model will be available for testing through LexisNexis Telematics OnDemand and is designed to flow seamlessly into insurers\' existing auto insurance ratings programs to help improve segmentation, pricing risk and profitability.\nTelematics OnDemand will be the first LexisNexis Telematics Exchange product to offer scores using the new Drive Metrics telematics scoring model which leverages analytics applied to driving behavior data.
- The resulting scores can help carriers deliver a more accurate risk assessment of driving behavior data, both at point of quote and renewal.
- In a LexisNexis Usage-Based Insurance (UBI) study, 88% of drivers indicated they prefer auto insurance pricing based on their actual driving habits.
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