Q . WHAT ’ S THE BIGGEST CHALLENGE / ADVANTAGE YOU ’ VE ENCOUNTERED TO DATE IN THE INSURTECH INDUSTRY ?
» Data – in the capacity of regarding who owns what and how publicly available data should be used in quote-and-claims journeys . Insurance providers have quite rightly been cautious about exploring new datasets , but , with data ownership and privacy concerns allayed , there has been a big shift in recent years in the appetite for new data insights to obtain an accurate view of risk in a fair and transparent manner .
Q . WHAT ' S NEW FOR YOUR COMPANY – WHAT CAN WE LOOK FORWARD TO SEEING AS THE YEAR UNFOLDS ?
» We ’ ve got lots in the pipeline . My focus is on supporting motor insurance providers and without giving too much away , we ’ re accelerating how we leverage vehicle data to serve our insurance clients better . Vehicles are becoming significantly more complex , and more expensive , but also more capable , and more able to avoid a collision and hence reduce claims .
“ IF A JOB ’ S WORTH DOING , IT ’ S WORTH DOING
PROPERLY ’ – MY GRAN
ALWAYS DRUMMED THIS INTO US ”
Our solutions will help uncover yet more details about the car , the safety and risk implications of emerging technologies , and how this impacts pricing , underwriting , and claims .
Q . WHAT INSPIRES YOU IN INSURTECH TODAY ?
» LexisNexis Risk Solutions is an innovator and enabler , bringing data together to create an enriched and valueadded service for our clients . The pace of change and disruption in our sector is unprecedented right now , and it ’ s this that excites and inspires me .
We ’ re positioned to be able to serve both insurtech and large , established insurance brands together , and we look forward to bringing more vehicle insights to them , curated in such a way that insurtechs can easily access and extract the value they need to build and grow .
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