LexisNexis Risk Solutions Enhances Game-Changing Home Insurance AI Solution Flyreel to Expedite and Improve the Home Underwriting Process
With this no-code enhancement, insurers can prioritize risks based on their needs and preferences while reducing the amount of time it takes to act on the risks they deem most important – risks including but not limited to exterior and interior condition issues, roof damage, recalled electrical systems and water damage. Insurers can then set parameters based on the Flyreel solution's self-service inspection capabilities that align with their underwriting preferences, structuring their workflows accordingly. LexisNexis Flyreel also helps offer its customers even more consumable information by delivering an actionable report based on those identified needs – whether customers use a dashboard or system-to-system integration.
"Over the last several months, we have been hard at work enhancing the Flyreel solution to deliver more meaningful, configurable insights for insurers as we look to offer the most current and comprehensive understanding of property in the market," said
According to a report by S&P Globali, loss ratios for Q3 2022 were at 98%, exceeding that of the previous four years, fueled largely by increasing home claim severity, which is up by 37% year-over-yearii.
"We recognize that every day our customers are faced with new market challenges such as rising inflation, labor availability and growing expectations from consumers and employees around digital experiences," said
About
LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro
LexisNexis Risk Solutions Contacts:
+1.706.714.7083
Charles.Strong@lexisnexisrisk.com
Phone: +1.646.746.5611
darmstrong@brodeur.com
i S&P Market Intelligence,
ii S&P Market Intelligence,
SOURCE
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