LexisNexis Risk Solutions announced that 16 insurance brokerages have joined the LexisNexis Insurance Exchange.

The result of an alliance formed through LexisNexis Risk Solutions, The Council of Insurance Agents & Brokers and Marketcore Inc., the Insurance Exchange is a business and renewal submission placement platform designed to enhance the flow of application data between insurance agents, brokers and carriers. Additionally, LexisNexis says the Exchange aids agent and broker profitability by reducing workload, facilitating access to new markets and improving collaboration between organizations.

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