ATLANTA, Sept. 13, 2021 /PRNewswire/ -- Kia America has entered into an agreement to
supply vehicle build data to LexisNexis® Risk Solutions,
a leading data, analytics and technology provider, to help Kia
owners across the U.S. potentially benefit from their cars'
advanced driver assistance systems (ADAS) when they shop for auto
insurance. LexisNexis® Vehicle Build provides data
regarding ADAS features in Kia vehicles in order to help U.S.
auto insurers utilize ADAS data in insurance rating and
underwriting, ultimately to help potentially reduce the total cost
of vehicle ownership for consumers.
ADAS-equipped vehicles continue to rise in popularity and have
been linked to reduced accidents and driver riski.
LexisNexis Vehicle Build normalizes and standardizes vehicle build
data at the vehicle identification number (VIN) level, enabling
U.S. insurance carriers to more easily access and integrate
specific details about ADAS features of a Kia vehicle model at the
point of quote. When Kia customers shop for auto insurance, the
insurance provider can factor for the ADAS features on their car
and potentially offer a lower premium, rewarding owners for their
investment in driver assistance technology and helping reduce the
total cost of vehicle ownership.
"Working with a creative, forward-thinking brand like
Kia America, determined to solve its
customers' challenges, enables LexisNexis Risk Solutions to
continue to connect automakers and insurers, which could
potentially benefit consumers who have chosen and invested in
advanced driver assistance features," said Adam Hudson, vice president and general manager,
U.S. Connected Car, at LexisNexis Risk Solutions. "With newfound
underwriting data available through LexisNexis Vehicle Build,
guesswork involving a vehicle's ADAS features is now a thing of the
past, and we look forward to continuing to bridge the automotive
and insurance markets so consumers can shop for auto insurance in a
new and empowering way."
For U.S. automakers to learn more about our automotive industry
offerings, visit Solutions for Automakers.
To learn more about LexisNexis Vehicle Build and our LexisNexis
Connected Car solutions for insurers, visit LexisNexis
Insurance.
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-based analytics and decision tools 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
i https://risk.lexisnexis.com/about-us/press-room/press-release/20200618-vehicle-build -
LexisNexis Risk Solutions analyzed 11 million randomly
selected U.S. vehicles within model years 2014-2019, and using
proprietary information compared vehicles equipped with a set of
core ADAS features against vehicles without those features.
LexisNexis found that ADAS equipped vehicles showed a 27% reduction
in bodily injury claim frequency and a 19% reduction in property
damage frequency, but also found that severity for ADAS-equipped
vehicles was not significantly impacted.
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SOURCE LexisNexis Risk Solutions