Comprehensive property intelligence solution
utilizes modern AI to help amplify the underwriting
workforce and offers a more superior customer experience in the
face of worsening loss ratios
ATLANTA, Oct. 12,
2023 /PRNewswire/ -- LexisNexis® Risk Solutions
announced today that LexisNexis® Total Property Understanding™, a
comprehensive property intelligence solution, has been named to
PropertyCasualty360's Insurance Luminaries Class of 2023 in the
category of Risk Management Innovation.
Total Property Understanding is a modern, all-in-one property
intelligence solution that helps enable U.S. carriers to more
easily identify properties with risk or coverage opportunities,
capture critical risks about those properties, and then act on
those findings from a configurable report using next-gen
technologies. The solution uses a consumer self-guided AI-driven
survey tool to help capture comprehensive interior and exterior
data that integrates seamlessly into the underwriting workflow.
Total Property Understanding is helping businesses significantly
improve their returns on underwriting investment and loss avoidance
is improving, with over 30% of homes scanned surfacing critical,
actionable risksi.
This recognition celebrates innovation in the property and
casualty insurance industry. The program spotlights top
professionals, teams, organizations, programs, practices and
products within the sector that strive to modernize and humanize
the business. The 2023 honorees were selected by a panel of
industry experts based on how well they stated and achieved goals
with regard to the nomination category: how impactful their work
has been; how dedicated the nominee has been to furthering
modernization and humanization in the P&C insurance business;
and how committed and dedicated the nominee has been to high
ethical standards, service and excellence.
"It is an honor to be part of the prestigious Luminaries Class
of 2023 which is reflective of our technology advancements and
continuous push for solutions that help improve the home insurance
industry," said Cole Winans, vice
president and general manager of property solutions at LexisNexis
Risk Solutions. "Natural catastrophes, inflation, and costs to
repair properties – among other factors – are dramatically
impacting the home insurance industry. In an already hard market,
insurers are looking more to AI capabilities to help augment and
amplify the talents of their underwriters, giving them modern tools
to better assess risk with greater ease."
"Today's top insurance organizations recognize the industry's
history and purpose while embodying contemporary processes and
services," says NU Property & Casualty Executive Editor
Elana Ashanti Jefferson. "My
colleagues and I are thrilled to be able to recognize pace-setting
insurance organizations, programs, practices, teams and individuals
as part of the annual NU PropertyCasualty360 Luminaries recognition
program."
More information about the Total Property Understanding solution
can be found on the LexisNexis Risk Solutions website.
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 Atlanta, Georgia, we have offices throughout
the world and are part of RELX (LSE: REL/NYSE: RELX), a global
provider of information-based and analytics and decision tools for
professional and business customers. For more information, please
visit www.risk.lexisnexis.co.uk and www.relx.com.
Media Contacts:
Chas
Strong
Director, Communications
U.S. Insurance
LexisNexis Risk Solutions
+1.706.202.5813
Charles.Strong@lexisnexisrisk.com
Danielle Datre
Brodeur Partners for LexisNexis Risk Solutions
Phone: +1.203.444.7862
ddatre@brodeur.com
i LexisNexis Risk Solutions Internal
Analysis
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SOURCE LexisNexis Risk Solutions