LexisNexis Risk Solutions, a leading provider of data and analytics for the insurance and automotive industries, and Kia America announced they have entered into a strategic agreement making Kia connected vehicle data available to U.S. auto insurers via the LexisNexis Telematics Exchange.
Connectivity has been at the core of improving the driving experience for Kia. Now taking it one step further, this integration will allow eligible customers who have enrolled in Kia Connect Services to opt in to share their driving behavior data to receive a personalized driving experience and to be more informed drivers.
The agreement between LexisNexis Risk Solutions and Kia means that driving behavior data and vehicle data from eligible Kia connected vehicles will be integrated into the LexisNexis Telematics Exchange. The Exchange is a source-agnostic platform for telematics-based driving behavior data and vehicle insights that has the ability to bring insurance carriers together with automotive manufacturers and other third-party telematics service providers to help improve the car ownership experience for their shared consumer. The data from eligible Kia vehicles will be used to create a personalized driving score for participating Kia Connect drivers along with feedback on factors that impact their score the most, delivered directly via the Kia Access smartphone app.
“With Kia’s strategic relationship, the LexisNexis Telematics Exchange includes automakers representing 46% of new market car sales,” said Adam Hudson, vice president and general manager, U.S. Connected Car and International Markets, LexisNexis Risk Solutions. “The Telematics Exchange enables both drivers and carriers to benefit from the wealth of data available from today’s connected cars. Today’s announcement signifies the value LexisNexis Risk Solutions brings to the insurance and automotive industries by delivering market-leading data-powered solutions that ensure a better, more personalized customer experience throughout the insurance lifecycle.”
For Kia drivers, this integration brings myriad benefits, including a better understanding of their driving behaviors along with the ability to take advantage of these behaviors when shopping with an insurer using LexisNexis® Telematics OnDemand at new business and renewal. Meanwhile, insurance carriers gain access to telematics solutions driven by a data-rich exchange that helps enhance cost-effectiveness and improve segmentation, score quality and risk assessment accuracy, as well as customer loyalty.
“Working with LexisNexis Risk Solutions allows Kia to continuously improve the customer experience for our drivers,” said Steven Center, COO and executive vice president of Kia America. “By joining the LexisNexis Telematics Exchange, Kia is now able to offer data-driven insights to our drivers that allow them to better understand their behaviors on the road and benefit from the opportunity for usage-based insurance discounts for customers who choose to participate. We’re pleased to be able to continually enhance our market offerings thanks to the advantages of the LexisNexis Risk Solutions platform.”
LexisNexis Risk Solutions offers exchange-based solutions and advanced analytics, including LexisNexis® Telematics OnDemand and its next-generation LexisNexis Drive Metrics scores, which allow insurers to seamlessly leverage driving behavior insights during the insurance shopping process at the point of quote, as well as at underwriting and renewal.
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