LexisNexis Risk Solutions announces the migration of its insurance solutions to the LexisNexis big data processing platform known as HPCC Systems. LexisNexis is leveraging the platform to help insurers assign premium more accurately, better understand their customers and risk throughout the policy lifecycle, and drive a more profitable book of business.
Among the first solutions to migrate to HPCC Systems' platform is C.L.U.E. Auto, the industrystandard loss underwriting database for the auto insurance market, representing 99.6 percent industry contribution. C.L.U.E. Auto with HPCC Systems finds claims on more than 64 percent of all inquiries and has a historical consumer dispute rate of less than 0.04 percent.
A recent study was conducted by LexisNexis on a group of insurance applicants of which 20 percent had been evaluated and reported as having no prior claims history and would not require a C.L.U.E. Auto report. LexisNexis ran these “clean” applicants through C.L.U.E. Auto for the first time, and found 49 percent had prior claims history. The lifetime premium leakage associated with those missed claims totals over $1 million.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
