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.”
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