Polaris is pleased to announce that LexisNexis Risk Solutions has joined the Personal Lines Standards subscriber community.
LexisNexis Risk Solutions is a leader in providing essential information that helps customers across industries predict, assess and manage risk. Combining cutting-edge technology, unique data and advanced analytics, LexisNexis Risk Solutions provides products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy.
As Graham Tooke, Senior Strategic Alliance Manager, Insurance, LexisNexis Risk Solutions explains:
"A fundamental part of the LexisNexis data enrichment service to the Insurance Intermediary market is the ability for software houses to send quote requests to LexisNexis containing multiple insurance provider identifiers using the Polaris Standards code lists. This ensures consistency across the market and enables us to return data attributes from numerous data sets uniquely coded in line with the pricing strategy for each client, all from a single software house quote request. This is vitally important when we are processing 200 million quote requests per day with typically sub-second response times".
The Polaris Standards codes have been used by LexisNexis to identify transactions for customer support requests, tracing customers affected by service incidents and identifying insurance providers involved in consumer credit report soft footprint enquiries.
The Polaris Standards question sets and EDI message formats that are used across the market, have enabled LexisNexis to receive data in a consistent way, thereby minimising the need for complex mapping routines.
Steve Waller, Standards Manager at Polaris, commented:
"We’re delighted to welcome LexisNexis Risk Solutions to the personal lines standards community. Their participation in our regular meetings of stakeholders will help us in continuing to shape standards and ensure they reflect the changing legal and regulatory environment".