LexisNexis Risk Solutions buys Wunelli in a step forward for insurance industry
Telematics Update: Last month LexisNexis acquired Wunelli, a UK telematics data services company, creating one of the largest provider-held insurance telematics databases in the world.
The LexisNexis and Wunelli combined datasets will provide solutions for risk assessment, discounts for safer drivers and an improved customer experience to support insurers in their UBI programs. Together the two companies intend to enable a greater speed-to-market for insurers with superior telematics understanding. The choice to bring in a company from the UK represents a recent trend in looking to markets outside the US for increased insights and a fresh perspective.
Harriet Molyneaux, Project Director, Telematics Update, said that “The US insurance telematics market underwent a period of stagnation. The move by LexisNexis and others bringing in companies from other markets promises to shake up the state of play and push the industry forward”.
To help the insurance industry capitalise on this overhaul of the market, the Insurance Telematics USA Conference (Sept 3-4, Radisson Aqua Blu, Chicago, IL) will provide a complete market analysis and update. Despite being the largest UBI market in the world, the US insurance telematics industry still has some major roadblocks to overcome to make UBI programs mainstream. The conference will shed light on how other markets are overcoming the hurdles the US market still faces. Case studies focus on Canada, where brokers are acting as an advocate for consumers and enabling data portability, a concept that is not yet reality in the USA. Further targeted sessions lead by hand-picked experts such as Progressive, US Dept. of Transport , The Hartford, American Family Insurance, Ford, LexisNexis, IBM and Towers Watson will cover regulation of new technology, next-gen cognitive UBI models, the consumer and disruptive new entrants to market such as Google.
Insurance Telematics USA 2014 is the largest event in North American to bring the entire insurance telematics ecosystem under one roof:
- 800+ senior executives attending
- Over 60 hand-picked thought leaders speaking
- 40+ sessions on disrupters, data & pricing, the consumer, the rise of the app and more
- Best in class for networking: over 20 hours of focused networking with the entire ecosystem
The full agenda and speaker line-up has just been announced on the website: http://www.telematicsupdate.com/insurance-telematics/
The Insurance Telematics USA Conference & Exhibition(3-4 September at the Radisson Aqua Blu, Chicago) unities the insurance, software and automotive industries to examine the steps needed to implement a UBI program with a strong business model and take it to the mass-market: the tipping point is just around the corner.
For the complete Insurance Telematics USA 2014 agenda and speaker line-up, visit: www.telematicsupdate.com/insurance-telematics/
Progressive stated that Insurance Telematics USA is a “Great opportunity to see all the major players in the telematics insurance space at one time”.
For the complete Insurance Telematics USA 2014 conference program and speaker line-up, access the e-brochure at: http://www.telematicsupdate.com/insurance-telematics/conference-event-brochure.php or contact the Telematics Update team at email@example.com
Register by July 11 via the secure link below to take advantage of a $200 saving on all conference passes: secure.telematicsupdate.com/insurance-telematics/register.php
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