Market Research Report Tip Sheet

According to our survey of more than 400 U.S. commercial insurers, most carriers are pressed to maintain profitability and struggle to achieve desired levels of key capabilities such as automation, data assets, predictive models and more.1
Automated loss runs
Automated loss runs can help you better assess risk, so you can rate and price more accurately. LexisNexis® C.L.U.E.® Commercial delivers claims history and loss information in a standardized format, helping make it easier to get the information you need. Our industry-wide database provides access to claims information across standard lines of business, including auto, property and worker’s compensation. Make more informed decisions and build a healthier book of business based on robust insights―on demand, all in one place.

Prefilled business data
Prefilled data can enable faster quotes, more accurate underwriting, a better customer experience and improved profitability. LexisNexis® Commercial Data Prefill helps to expedite the application process by auto-completing pertinent business information, property characteristics, vehicle details, driver information, workers’ compensation coverage and more. Prefill solutions can help you eliminate expensive errors and reduce premium leakage—while also improving the customer experience and helping you become the carrier of choice.

Predictive modeling
Predictive modeling can help you better evaluate risk and anticipate future loss. Specifically designed to achieve these objectives, the LexisNexis® Attract℠ suite of proprietary predictive models helps enable you to rank commercial risks by loss ratio and/or loss frequency. Access to commercial credit, personal credit models and public records can help ensure you have the best opportunity to score a risk based on the age, size and type of business. Improve profitability by understanding potential risk ahead of time.

1. LexisNexis Risk Solutions Study, Market Trends and The Current State of Commercial Insurance, 2018; research based on interviews of 412 U.S. insurance professionals.

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Automated Loss Runs Help Commercial Insurers Infographic

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A holistic solution to help reduce human error, improve customer experience and increase overall profitability.