LexisNexis Risk in aerial imaging partnership with Vexcel

LexisNexis Risk Solutions has announced a new 'alliance' with Vexcel to strengthen its aerial imaging capabilities for insurance risk purposes

LexisNexis Risk Solutions has announced a new partnership with Vexcel Data Program, a leader in aerial imagery and geospatial data, which will enhance the company’s existing LexisNexis® Rooftop solution.

Roof age and condition are among the most obvious indicators of risk used by insurers in the property insurance space, but insights that can be gleaned from satellite imagery is often overlooked by the sector. LexisNexis Rooftop offers customers two Rooftop models to choose from – including a geospatial model enhanced by comprehensive claims datasets from LexisNexis Risk Solutions, as well as a geospatial imagery model that utilises manned fixed-wing aerial imagery to provide carriers with first-hand visibility of the roof.

The alliance with Vexcel will bring enhanced imagery capabilities into the Total Property Understanding suite of solutions. Seamlessly integrating advanced weather, claims and property data with aerial imagery

Vexcel pleased to be working with LexisNexis

“LexisNexis Rooftop leverages a vast database of industry personal lines claims, which in combination with weather and property data is much more predictive of future loss than imagery and weather data alone,” says Randy Ishikawa, Director of Home Insurance at LexisNexis Risk Solutions.

“This enables insurers to determine the likelihood of a future claim that is backed by deep analysis of industry-leading aerial imagery without having to review the actual pixels.”

“Total Property Understanding has been designed to arm insurers with end-to-end insights to better segment and rate a property’s risk, including historical personal lines claims both for the home and surrounding area, in addition to key weather and property risk insights,” adds Cole Winans, Vice President and General Manager of Property Solutions at LexisNexis Risk Solutions.

“These aerial and geospatial enhancements to LexisNexis Rooftop are a huge advancement within the Total Property Understanding suite. By aligning with Vexcel and its expertise in camera aerial systems and photogrammetry software, we are empowering insurers with some of the most advanced tools available today to accurately assess property risks, streamline underwriting processes, and make more informed decisions to better serve consumers.”

“High resolution imagery is quickly becoming a fundamental need in analysing properties and roofs at scale,” continues Rob Agee, Chief Operating Officer at Vexcel Data Program. “Global platforms like LexisNexis need highly accurate, consistent, and complete coverage, both urban and rural, to solve several unique challenges for property risk and insurance claims. We are pleased to be working with LexisNexis to provide a clear picture to enable their property insights.”

******

For more insights from InsurTech Digital, you can see our latest edition of InsurTech Digital here, or you can follow us on LinkedIn and Twitter.

You may also be interested in our sister site, FinTech Magazine, which you can also follow on LinkedIn and Twitter.

******

BizClik is a global provider of B2B digital media platforms that provides executive communities for CEOs, CFOs, CMOs, Sustainability Leaders, Procurement & Supply Chain Leaders, Technology & AI Leaders, Cyber Leaders, FinTech & InsurTech Leaders as well as covering industries such as Manufacturing, Mining, Energy, EV, Construction, Healthcare, and Food & Drink.

BizClik – based in London, Dubai, and New York – offers services such as Content Creation, Advertising & Sponsorship Solutions, Webinars & Events.

Share

Featured Articles

The Uncertain Future of Wefox: Mubadala’s Internal Dispute

Uncertainty is looming at once high flying European insurtech Wefox, with lead investor Mubadala considering deal with rival Ardonagh

IMG and Teladoc Expand Telehealth Services for Travellers

IMG and Teladoc Health expand partnership to enhance telehealth services for travellers, offering round-the-clock access to medical professionals worldwide

UHG CEO Witty Admits Hack hit Third of US Citizens' Data

US congressional hearing learns from UnitedHealth Group CEO Andrew Witty that Change Healthcare cyberattack compromised data of third of the US population

Allianz Announces Partnership With Clearspeed

Insurtech

Milliman Arius: Reserve Analysis with an End-to-End Solution

Insurtech

Allstate: BCG Partner Harnesses Gen AI to Transform CX

Technology & AI