ATLANTA, April 27, 2016 /PRNewswire/ -- LexisNexis® Risk Solutions has been recognized as an industry leader by Aite Group, an independent research and advisory firm. The company was acknowledged for its innovative use of data in the category of "Addressing the mortality challenge in life insurance underwriting."
LexisNexis Risk Solutions was acknowledged for modernizing the life insurance industry through its ability to think outside the box and provide data to support the underwriting process. By leveraging its lifestyle, behavioral, and financial attribute data, LexisNexis adds value to the underwriting process to help support a nonintrusive and nonmedical way to streamline how insurers underwrite.
"As the life insurance industry shifts to new products and ways to distribute and underwrite them, out-of-the box thinking like LexisNexis' use of new data sources will help support this new industry era," said Samantha Chow, Senior Analyst, Aite Group.
The report, "Life Insurance Underwriting: Solutions for Today's Challenges," examines the vendor solutions that life insurance companies can tap into to address the underwriting process' five pain points: labor, speed, efficiency, pricing, and mortality. It identifies the vendors within each challenge category, compares their abilities and impact, and awards vendors for their strengths and methods.
"We are proud to be recognized for our innovative use of data in life insurance underwriting," said Elliott Wallace, VP and GM, Life Insurance, LexisNexis Risk Solutions. "The life insurance industry often struggles with finding efficient, cost-effective and fast underwriting processes. We know that real-time data and advanced analytics can unlock tremendous opportunities for life insurance carriers and we strive to provide the tools to better manage risk in more efficient ways."
About Aite Group Aite Group is an independent research and advisory firm focused on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, securities & investments, and insurance, Aite Group's analysts deliver comprehensive, actionable advice to key market participants in financial services. Headquartered in Boston with a presence in Chicago, New York, San Francisco, London, and Milan, Aite Group works with its clients as a partner, advisor, and catalyst, challenging their basic assumptions and ensuring they remain at the forefront of industry trends.
About LexisNexis® Risk Solutions LexisNexis Risk Solutions (www.lexisnexis.com/risk) is a leader in providing essential information that helps customers across all industries and government assess, predict and manage risk. Combining cutting-edge technology, unique data and advanced analytics, LexisNexis Risk Solutions provides products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy. LexisNexis Risk Solutions is part of RELX Group, a world-leading provider of information and analytics for professional and business customers across industries. For more information: http://www.lexisnexis.com/risk/insurance/life-insurance-solutions.aspx