Q . DESCRIBE YOURSELF IN THREE WORDS
» Enthusiastic . Energetic . Optimistic .
Q . WHAT ' S NEW ON THE HORIZON FOR YOUR COMPANY – WHAT CAN WE LOOK FORWARD TO SEEING AS THE YEAR UNFOLDS ?
» We are working with our customers and with industry partners to develop specific solutions to support the claims function .
Perhaps one of the most useful pieces of data to claims professionals is granular data on past claims for the customer and / or their asset , gathered from across the market . So we are launching a contributory claims database , first in home , followed by motor and commercial . This data won ’ t just benefit claims , of course ; it can support pricing accuracy and help to ensure the customer is offered the right product for their needs . LexisNexis Risk Solutions has proven experience in delivering insights from industry contributed data – from policy history to quote history – so it ’ s exciting to be part of the next stage of this journey . The insurance industry has been crying out for granular claims data so we already have a number of insurance providers eager to get on board with this initiative .
As a business , we are also helping insurance providers gain a 360 ° -view of their customers based on all the data they currently hold . This can be challenging when you consider the merger and acquisition activity in the market and factor for name changes , address changes and so on . However , linking and matching technology can provide a solution . With a single customer view you can get a much better understanding of the customer and their needs , from quote through to claim and , most importantly , verify the claimant is who they say they are .
As the insurance sector ’ s data , analytics and technology provider , we ’ re perfectly positioned to make that possible .
Q . WHAT INSPIRES YOU IN INSURTECH TODAY ?
» I ’ m inspired by simple ideas that address a challenge in the industry and make things better .
I have been lucky to be part of claims transformation projects and have seen how technology can speed the claims process for both the customer and the insurance provider . For example , an app based solution to capture images of vehicle damage or accidental damage in the home , or the use of connected devices such as escape of water detectors capturing real-time data to help minimise losses and expedite claims . Technology is a great enabler , but this should never be at the expense of human empathy and expertise – the best insurtech solutions strike the right balance between both .