LexisNexis Risk Solutions opens access to Global Telematics Exchange with launch of Software Development Kit
"We have opened our platform and data environment to allow insurers, brokers and third party developers to access our data processing systems in a secure, curated and documented environment and to build their own applications and websites using our platform as the core. Our application development team has been leading the way, building and optimizing telematics apps for over a decade. The SDK takes this technical knowledge and vast experience and puts it into the hands of insurers and brokers."
This development is set to help insurance companies grow their market share more swiftly and more profitably through new products for new consumer segments, by enhancing an existing product, or by using better information to improve segmentation.
"This SDK leverages the full power of the LexisNexis Global Telematics Platform (GTP), offering a distinct advantage for firms operating across borders. This is the ultimate tool for product development as the sector looks to capitalise on the wider market opportunity beyond young drivers."
The LexisNexis Risk Solutions Software Development Kit helps solve:
- Cost – the insurance provider can access and build applications on the LexisNexis Global Telematics Platform (GTP) without the cost of developing a whole technical architecture and hosting environment to mirror the GTP.
- Scale – the SDK empowers insurers and brokers with the proven big data platform built by
LexisNexis Risk Solutions , including our robust security and privacy practices. - Speed of Development – by leveraging the company's pre-built platform technology and data management services, insurance providers can focus on consumer-facing elements, design and delivery. They can simply add driver scoring and driver safety features to their existing applications.
- Data Treatment & Consistency – different devices deliver data at different frequencies and formats. The LexisNexis analytics team solves this problem for insurers by normalizing data from different sources, including auto manufacturers.
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