Strategic Alliance with Drivers History Provides Insurance Partners Better Information and Reduces Costs
ADDISON, Texas - April 22, 2013 - As part of a continuing effort to bring new data options to insurance carriers, Digital Matrix Systems Inc. is announcing a strategic alliance with Drivers History, a driver violation reporting service that can be used to pinpoint ratable activity for insurance policy applicants. This alliance brings even more data source choices to DMS insurance carrier clients, allowing them to make better informed risk-based decisions and reduce costs.
DMS insurance partners will now have access to Drivers History databases, which offer a comprehensive record of specific drivers’ moving violation histories, including the original ticketed charges and final adjudicated outcomes. Additionally DMS partners will have access to customary operator and undisclosed household reports, unique marketing files and driver profile summaries.
“As a prescreening tool, our databases permit insurance companies to avoid pulling formal driving reports on the approximately 70 percent of the drivers in a normal driving sample who have no ratable activity,” said Brian Wolfson, senior vice president of sales and business development.
“By focusing their attention and resources on only those drivers with ratable violations, insurance companies can expect to see a cost reduction of between 30 percent and 50 percent in their already high data acquisition costs,” Wolfson added. “These companies are also realizing more accurate underwriting and increased surcharge opportunities since Drivers History is able to capture a material percentage of drivers whose ratable activity never makes on to a formal driving report.”
Access to Drivers History is available through Data Access Point™ by DMS, a cutting-edge connectivity hub that offers insurance carriers flexibility when using alternative data sources. Data Access Point also allows data to be stored within a single, secured environment for easy future access, analytics and modeling.
About Digital Matrix Systems, Inc.
DMS is a risk management solution provider that helps clients make better informed business decisions. Backed by more than 30 years of experience, DMS offers integrated products and comprehensive consulting services, tailoring solutions based on each client’s business goals. For more information, visit www.dms.net.
About Drivers History
Drivers History pioneered the collection of traffic related public records in 2002. Today, Drivers History maintains a comprehensive database of driver violations in ten states with plans to continue their national expansion. This information is made available to the automobile insurance industry to help reduce MVR expenses while allowing for more informed decisions throughout the entire underwriting process. Drivers History was recently recognized by INC. Magazine as one of America’s fastest growing private companies (2012 Inc. 500). Drivers History is located in Cherry Hill, New Jersey.
For more information, contact: