LexisNexis: granular vehicle data now essential to pricing
“Chinese vehicle manufacturers continue to expand their footprint across the UK market,” said Tom Lawrie-Fussey, associate vice president of insurance product management, UK and Ireland, at LexisNexis Risk Solutions. He said this expansion can create challenges where limited historical claims and repair data is available, and that the industry was responding with growing demand for vehicle-level insights at the point of quote and claim, including intelligence on ADAS features that can help insurers assess risk, repairability and potential claims costs.