In a move designed to help brokers take advantage of some of the most powerful data available to the insurance market today, Open GI has become the first major software house to offer access to Broker Intelligence from LexisNexis® Risk Solutions, the data enrichment solution designed specifically for small to medium brokers. The point of quote enrichment solution from LexisNexis Risk Solutions has been created to make data enrichment faster and easier for brokers, with access to specially selected attributes that will be of most value to their business.
Broker Intelligence enables brokers to access a deeper level of data intelligence for a better understanding of their customers, which could, in turn, help reduce fraud risk. It draws on policy history data such as cancellations and gaps in cover, no claims discount validation, public records, financial sanctions records and other unique data to build a more complete picture of an individual, all at the point of quote. A trusted data provider for the insurance industry, LexisNexis Risk Solutions offers extensive coverage of U.K. motor policies and insights from policy transactions, including cancellations and mid-term adjustments.
Simon Badley, Group CEO of Open GI said: “Growing competition and changing customer behaviours are driving the need for data enrichment, enabling brokers to offer a better customer journey and experience. Access to Broker Intelligence fills important gaps in knowledge that LexisNexis Risk Solutions can complete to support improved pricing accuracy and quotability while enhancing the customer experience and offering operational savings. We are delighted to work with a leader in the provision of data, analytics and technology to the insurance market, with a proven track record in serving data direct into insurance workflows.”
James Burton, senior director of product management, Insurance, U.K. & Ireland, at LexisNexis Risk Solutions, said: “Too much information can be just as harmful as too little, so we listened to what brokers wanted and designed Broker Intelligence to ensure speed of access to the high-volume, near real-time data they need, at the point of quote. We are kicking off a new year and with it will come a new set of challenges for the broking community, so the availability of Broker Intelligence through Open GI could not be better timed.”