LexisNexis Risk Solutions Enhances Claims Datafill with New Insights to Expedite U.S. Auto Insurance Claims Processing

Claims Datafill can now proactively deliver key insights directly to carriers to help adjusters expedite claims for consumers and identify liability and claims fraud.

ATLANTA, April 11, 2024 /PRNewswire/ -- LexisNexis ^® Risk Solutions, a leading data, analytics and technology provider, today announced LexisNexis ^® Claims Datafill  now offers the capability to proactively inform insurance carriers about the availability of a police report or violation data to help expedite insurance claims and improve the experience for consumers experiencing a loss event. Gathering information is one of the most time-consuming and costly steps in the claims process. According to 2023 LexisNexis Risk Solutions claims satisfaction research, 33% of consumers cited the length of time to settle claims as a primary reason for switching carriers.  

Increased claims severities, which are well above historical averages, have continued to challenge the U.S. auto insurance market, registering six consecutive quarters of at least 5% growthⁱ. Fueled by labor and part shortages, the cost to repair “ or replace “ vehicles is increasing. More than a quarter of collision events from 2022 (27%) were total lossesⁱⁱ, which has added more expense pressure on American consumers as auto insurance rates are up almost 21% for the 12 months ended in Februaryⁱⁱⁱ.

Part of the LexisNexis ^® Claims Compass platform, Claims Datafill is designed to help claims organizations validate data and information on people, policies and vehicles. It helps enable U.S. auto insurers to accelerate claim closings with more complete information and shave meaningful time off the claims process. New event monitoring features will help adjusters make more informed liability, subrogation and triage  decisions with actionable insights delivered throughout the lifecycle of the claim.

"Event monitoring is a significant leap forward in our mission to empower insurers with a holistic picture of a claim event and save insurance adjusters from hunting for information and avoiding unnecessary exchanges with claimants," said Tanner Sheehan, vice president and general manager, claims, LexisNexis Risk Solutions. "Consumers want a quick, precise and easy claims experience, or they may consider shopping for a new insurance carrier. Claims Datafill can help improve customer experiences by limiting questions to consumers and expediting the steps of the claims process."

"Insurers are continuing to grapple with the pivotal challenges of customer satisfaction, profitability and the complexities that have been further compounded by claimants seeking legal counsel," said Shannon Holt, associate vice president, claims, LexisNexis Risk Solutions. "Event monitoring within Claims Datafill is a strategic response to industry challenges designed to improve the consumer experience by accelerating claims management and tapping into the insights needed to support better decisioning. The ultimate end is to provide carriers with the right intelligence to address a claim with confidence."

For more information, please visit LexisNexis Claims Datafill

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 and analytics for professional and business customers. For more information, please visit  www.risk.lexisnexis.com,  and  www.relx.com.

Media Contacts:
Chas Strong
Director, Communications
LexisNexis Risk Solutions
+1.706.714.7083
Charles.Strong@lexisnexisrisk.com  

Carla Orlandi
Brodeur Partners for LexisNexis Risk Solutions
+1.908.514.0852
corlandi@brodeur.com  

ⁱ  LexisNexis Risk Solutions Internal Data
ⁱⁱ LexisNexis Risk Solutions Internal Data
ⁱⁱⁱ U.S. Bureau of Labor Statistics Consumer Price Index; March 12, 2024