Innovative Claims Solution from LexisNexis Risk Solutions Delivers Verified Data in Near Real-Time to Streamline the Total Loss Claims Process and Improve Cycle Time
"Total loss frequency is increasing and settling these claims quickly can be a real challenge due to the wide variety of data that is required," said
VINsights reduces the need for data look-up by automatically ingesting data from multiple sources, eliminates administrative errors through automated data verification, and improves claims accuracy by providing thorough and actionable information. Data is verified and delivered directly into the claims management system to help carriers expedite the total loss settlement process and improve their customer experience. An improved claims experience is important to consumers. In 2020, more than 6% of insureds switched insurance carriers within 90 days of a total loss, with some insurers experiencing more significant attrition.1
"As a result of customer demand, quick claims processing has become a key differentiator among insurers," said Cesario. "Carriers who utilize innovative solutions like VINsights are able to more quickly and confidently close total loss claims and deliver a better customer experience."
For more information and the latest updates on LexisNexis® VINsights click here.
About LexisNexis Risk Solutions
LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro
LexisNexis Risk Solutions
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