ATLANTA, Jan. 25, 2018 /PRNewswire/ -- In a major development for the global telematics market, insurance providers building their own customer-facing websites, apps and notifications for telematics programs can now simply and cost-effectively plug into the LexisNexis® Global Telematics Platform and build innovative applications with the launch of one of the first Software Development Kits (SDK) for the usage-based insurance market.
David Lukens, Director of Telematics and Global Products, Insurance, LexisNexis Risk Solutions said: "The SDK demonstrates our commitment to supporting our customers' growth in the telematics market given the complexity of such a project, as well as our expertise and drive to keep innovating to ensure our customers are at a competitive advantage.
"We have opened our platform and data environment to allow insurers, brokers and third party developers to access our data processing systems in a secure, curated and documented environment and to build their own applications and websites using our platform as the core. Our application development team has been leading the way, building and optimizing telematics apps for over a decade. The SDK takes this technical knowledge and vast experience and puts it into the hands of insurers and brokers."
This development is set to help insurance companies grow their market share more swiftly and more profitably through new products for new consumer segments, by enhancing an existing product, or by using better information to improve segmentation.
David Lukens continues: "By using the LexisNexis Risk Solutions SDK, insurance providers can go to market at a fraction of the cost and in a fraction of the time required to build a telematics product from scratch. Keeping the applications up to date with the numerous software updates released for smartphones of all types is also a greater commitment and investment than many companies are prepared to make. Utilizing our SDK allows updates to be made more quickly and more simply.
"This SDK leverages the full power of the LexisNexis Global Telematics Platform (GTP), offering a distinct advantage for firms operating across borders. This is the ultimate tool for product development as the sector looks to capitalise on the wider market opportunity beyond young drivers."
The LexisNexis Risk Solutions Software Development Kit helps solve:
- Cost – the insurance provider can access and build applications on the LexisNexis Global Telematics Platform (GTP) without the cost of developing a whole technical architecture and hosting environment to mirror the GTP.
- Scale – the SDK empowers insurers and brokers with the proven big data platform built by LexisNexis Risk Solutions, including our robust security and privacy practices.
- Speed of Development – by leveraging the company's pre-built platform technology and data management services, insurance providers can focus on consumer-facing elements, design and delivery. They can simply add driver scoring and driver safety features to their existing applications.
- Data Treatment & Consistency – different devices deliver data at different frequencies and formats. The LexisNexis analytics team solves this problem for insurers by normalizing data from different sources, including auto manufacturers.
About LexisNexis Risk Solutions
At LexisNexis Risk Solutions, we believe in the power of data and advanced analytics for better risk management. With over 40 years of expertise, we are the trusted data analytics provider for organizations seeking actionable insights to manage risks and improve results while upholding high standards for security and privacy. Headquartered in metro Atlanta USA, LexisNexis Risk Solutions serves customers in more than 100 countries and is part of RELX Group, a world-leading provider of information and analytics for professional and business customers across industries. For more information, please visit risk.lexisnexis.com.
Media Contacts:
Rocio Rivera
LexisNexis Risk Solutions
Phone: +1.678.694.2338
Rocio.rivera@lexisnexisrisk.com
Mollie Holman
Brodeur Partners for LexisNexis Risk Solutions
Phone: +1.646.746.5611
mholman@brodeur.com
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SOURCE LexisNexis Risk Solutions
