Traditional Motor Underwriter Transitions to Telematics

Burgeoning data analytics team at LexisNexis Risk Solutions boosted with appointment of Barbara Norman

The power of telematics data in motor insurance underwriting is proving to be a strong draw for traditional motor underwriters. Now boasting one of the insurance sector’s largest teams of data scientists, LexisNexis Risk Solutions has recently appointed Barbara Norman as a Statistical Modeller to deliver valuable insights to motor insurers and brokers operating in the growing telematics space. Barbara joins LexisNexis Risk Solutions with 11 years’ experience as a Technical Pricing Motor Manager.

Barbara Norman said, “As the understanding of telematics data within the rating process has grown, many of the proxies we have used in traditional motor insurance have become less and less relevant.  As such, the transition from traditional underwriting to data analytics at LexisNexis Risk Solutions feels very natural and it means I bring a real appreciation of the role of telematics data in reducing claims losses and improving profitability for our insurer and broker clients. 

“Fundamentally, telematics data provides a powerful base point for understanding the real risk of a policyholder and from there you can build a picture of that driver using combined datasets to predict their claims loss in a much more accurate way than you could ever achieve with proxies alone. The strength of telematics data is undeniable when you want to look at the underlying causes of accidents and the differences in driving behaviour.”

LexisNexis Risk Solutions now boasts one of the insurance sector’s largest teams of data scientists, underlining the increasing importance of data analytics in enabling the insurance sector to better understand risk, price more accurately and segment their customers.

Selim Cavanagh, Vice President, Insurance at LexisNexis Risk Solutions, said: “The value of telematics insurance relies 100% on having the skills to understand the data and then leveraging the predictive power, particularly when combined with other data sources to build a much more accurate picture of risk.  We are delighted that Barbara has joined the team. She brings valuable experience in motor insurance pricing and a genuine desire to prove its worth to our customers.”