Consumer-friendly plug-in device records driving data for highly targeted usage-based insurance (UBI) programs and doubles as a smartphone charger at a fraction of the cost of an OBD2 device
ATLANTA, April 20, 2016 — (PRNewswire) — LexisNexis Risk Solutions announced today the addition of an industry-leading 12 volt (12V) tethered telematics data collection device to its telematics data analytics platform. The 12V device is the newest part of a robust set of device options for collecting telematics data. The platform is designed to collect and normalize data from any source to deliver driving behavior scores and other insights. This enables insurers to run the same UBI program across different data sources based on their business strategy and the preferences of their target market.
Plugging into the cigarette lighter, the self-installed 12V device represents a significant step forward for the telematics insurance market because of its low cost, ease-of-use and the quantity of data it captures. The 12V device is paired with policyholders' smartphones, serves as a phone charger within the vehicle as an added bonus, and communicates over Bluetooth technology with the designated smartphone app to record driving behavior data as part of their UBI program.
Among the benefits of the 12V, it can collect more trips and more data elements per trip than other solutions, such as a standalone smartphone, due to its integrated 2-in-1 motion sensors for crash filtering and reporting, accelerometer to evaluate speed, gyroscope to detect orientation of the device, and rechargeable super capacitor for ignition logging and device tampering detection. Its detailed driving data open up possibilities for crash detection features to help prove the circumstances of a claim, which are already being tested/used in other markets, such as the U.K.
"The LexisNexis Risk Solutions telematics data and analytics platform was specifically built to take data from any data source – OBD2, black box, smart phones, 12V tethered devices or automotive OEMs – to better understand risk and engage drivers in usage-based insurance programs," said David Lukens, Director, Telematics, Insurance, LexisNexis Risk Solutions. "The 12V device enables robust data for carriers with highly targeted, market-specific programs, to reach their customers."
Telematics programs provide a unique opportunity to promote safer driving on U.S. roadways, according to a 2015 LexisNexis Risk Solutions telematics study. 22 percent of drivers surveyed wanted a UBI safe driving program concept, which consists of a smartphone app that measures driving behavior, scores driving, and then provides feedback so drivers can improve their score even without any discount offered.
LexisNexis Risk Solutions
LexisNexis Risk Solutions is a leader in providing essential information that helps customers across industries and government predict, assess 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. http://www.lexisnexis.com/risk/
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SOURCE LexisNexis Risk Solutions
|LexisNexis Risk Solutions
Regina Haas, LexisNexis Risk Solutions, Phone: +1.678.694.3569