LexisNexis Risk Solutions, a company that helps predict, assess and manage risk, is acquiring Wunelli, a telematics data services company.
Usage-based insurance is projected to grow to 15 to 30 percent of the global auto insurance market in the coming years. LexisNexis customers have expressed a need for a variety of telematics solutions to help them attract safer drivers, improve retention and avoid adverse selection.
The combined LexisNexis and Wunelli datasets will support insurers as they assess risk, discount safer drivers and serve customers more effectively. Insurers will be able to use telematics data to make informed decisions, reduce risk exposure and improve consumers’ experiences with usage-based insurance.
“Wunelli brings telematics expertise, solutions, scores and unique data assets, experience with hundreds of millions of miles of telematics data that can help advance our existing telematics offering and provide our customers with greater ROI, and faster speed to market,” said Bill Madison, CEO, insurance, LexisNexis.
