ATLANTA, June 28, 2021 /PRNewswire/
-- LexisNexis® Risk Solutions has announced the
availability of LexisNexis® Owner Check, a
groundbreaking ownership management solution that provides
automakers a more timely and complete method of identifying vehicle
ownership changes and providing updated contact owner information,
helping to unlock new customer engagement and retention
opportunities.
More than 40 million previously owned vehicles are sold
every year in the United States.
Of the millions of vehicles that change ownership every year, only
about a third are sold through a franchise dealer network, and
the other two-thirds, 25 million, are transferred through private
sales and independent auto dealers, which can make it difficult for
automakers to quickly, accurately and securely identify the current
vehicle owner. This knowledge gap or "blind spot" in detecting the
current owner of a vehicle only increases over time. The gap is
compounded further by traditional sources of owner change
information that can often be latent, restrictive, and can
ultimately hinder owner conversion rates for connected services,
until now.
Owner Check Benefits
LexisNexis Owner Check enables automakers to facilitate the
delivery of connected services and other vehicle benefits to prior
and subsequent owners, which may include:
- Reactivation and transfer of connected services
- Transfer of aftersales benefits, including prepaid maintenance,
roadside assistance, vehicle diagnostics and warranty
- Effective management and migration of connected services from
prior owners, helping protect privacy and security
"Whether it's the second owner or the tenth, Owner Check is
designed to support automakers in closing that knowledge gap and
help otherwise unidentified owners take advantage of connected
services by migrating consumers into the automaker's network," said
Dave Nemtuda, head of OEM Product
Development, U.S. Connected Car, LexisNexis Risk Solutions. "Having
a more accurate and clearer line of sight into vehicle ownership
allows automakers to establish a relationship with the new vehicle
owner and upon registration can transfer connected services and
other aftersales benefits."
"We see that while connectivity is enabling a 2-way connection
with the consumer, automakers still struggle to execute a
successful connected car journey because of sheer complexity,"
added Jeffrey Hannah, Chief
Commercial Officer for the analyst research firm SBD Automotive.
"Automotive OEMs need to have a lifetime picture of their customers
and the connected vehicles they are driving at scale. This allows
them to drive secondary owner awareness of features and services,
enable remote updates to keep the vehicle updated, and ensure
stronger identity management – everybody wins."
Consumer awareness of the benefits of connected features, such
as knowing about the ability for a car to be located, unlocked and
even started through a connected service with a smartphone or
taking advantage of telematics, continues to increase along with
usage of these services. With more vehicles equipped with connected
services, awareness and activation of these services can add
urgency to ensuring the right owner is tied to the vehicle. At the
same time, knowing the owner means OEMs can build relationships and
educate these new owners on the advantages of transferable benefits
such as prepaid maintenance, roadside assistance and service
diagnostics.
LexisNexis Risk Solutions is working with multiple automakers to
further expand their line of sight into vehicle ownership and
provide an array of benefits to current owners while helping
protect the safety and privacy of those prior.
How Owner Check Works
LexisNexis Owner Check combines
proprietary linking technology with a unique LexID®
identifier to leverage more reliable vehicle owner information from
billions of public records. Being able to trace owner changes means
automakers can more easily connect with new owners. Vehicle owners
mutually benefit by gaining access and full control of connected
services to realize their car's features and
benefits.
Owner Check allows automakers to identify owners throughout the
ownership lifecycle after initial purchase through subsequent
transfers, enabling automakers to better support their existing
customers and build new customer relationships. It can provide
actionable, more accurate intelligence in as little as a few weeks,
compared to months without this fully customizable and scalable
solution.
LexisNexis Owner Check gives automakers a clearer view into
vehicle ownership changes on a scale never seen before. By
incorporating the latest data analytics and innovation from a
global leader in advanced data and analytics, Owner Check can lead
to better overall customer relationship strategies and help improve
business workflows through timelier, more complete, change of
vehicle ownership information.
For more information on LexisNexis® Owner Check and
our other Automotive industry offerings, visit Solutions for
Automakers.
About LexisNexis Risk Solutions
LexisNexis Risk
Solutions harnesses the power of data and advanced analytics to
provide insights that help businesses and governmental entities
reduce risk and improve decisions to benefit people around the
globe. We provide data and technology solutions for a wide range of
industries including insurance, financial services, healthcare and
government. Headquartered in metro Atlanta, Georgia, we have offices throughout
the world and are part of RELX (LSE: REL/NYSE: RELX), a global
provider of information and analytics for professional and business
customers. For more information, please
visit www.risk.lexisnexis.com and www.relx.com.
Media Contacts:
Regina Haas
LexisNexis Risk Solutions
Phone: +1.678.694.3569
regina.haas@lexisnexisrisk.com
Dean Carney
Brodeur Partners for LexisNexis Risk Solutions
Phone: +1.646.746.5607
Dcarney@brodeur.com
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SOURCE LexisNexis Risk Solutions