LexisNexis to highlight data enrichment at BIBA 2025 event

LexisNexis Risk Solutions has outlined three major areas of focus for brokers attending the BIBA Conference 2025: property, motor, and identity data enrichment.

The company will be demonstrating how data enrichment in each of these areas is intended to assist brokers in improving efficiency, profitability and customer experience as they navigate developments in the insurance broking sector.

In the property risk segment, LexisNexis Risk Solutions will highlight its geospatial intelligence data offerings, with live demonstrations planned for LexisNexis Map View. According to the company, this tool allows brokers to visualise key risk data, analyse property-level risks, and acquire a better understanding of portfolio exposure to perils and accumulations.

Brokers seeking a more accessible entry to data enrichment will be able to explore LexisNexis Geospatial Risks, a packaged suite comprising perils and property data solutions. The service aligns with insurers' methods for evaluating property risks, supplying simplified perils risk scores for hazards such as flood, subsidence, and crime. It also includes LexisNexis Property Insights, furnishing information about property characteristics like roof type, number of bedrooms, and construction details at the quoted address.

Turning to motor risks, LexisNexis Risk Solutions will present its data capabilities relating to vehicle information. The firm, which maintains a broad repository of vehicle-centric data and has a strategic relationship with Thatcham Research, offers solutions including LexisNexis Vehicle Build and LexisNexis Vehicle Insights. Vehicle Build is designed to validate the presence and effectiveness of advanced driver-assistance systems (ADAS), while Vehicle Insights provides verification of a vehicle's status and history.

On the subject of identity risks, the company will showcase LexID for Insurance. This identity verification tool is built on proprietary identity-linking technology and leverages extensive data resources, including datasets from the insurance sector. LexID for Insurance is designed to address fraud by matching disparate pieces of identity information, and also to support the attainment of 'AI readiness' for customer data. According to LexisNexis Risk Solutions, the tool assists insurance providers in generating a single customer view across multiple datasets and engagement points.

"As proud sponsors of the BIBA Conference launch event, BIBA Conference 2025 looks set to be bigger and better than ever before and we have certainly reflected that in our key focus areas for the market. This is a great opportunity to present a new era in data enrichment reflecting the changing climate, changing vehicle technology and changing fraud risks. Ultimately, we are here to help brokers better assess and underwrite their portfolio of business," Dan Cicchetti, Associate Vice President of Client Engagement, Insurance, U.K. and Ireland at LexisNexis Risk Solutions, said as he commented on the company's focus for the conference.