Ford, LexisNexis teamed up to offer usage based insurance
Ford Motor Company and LexisNexis Risk Solutions have entered into a strategic agreement so that Ford connected vehicle data can be available to US auto insurers via the LexisNexis® Telematics Exchange.
Ford and Lincoln customers with an eligible 2020 model year or newer vehicle can opt-in to participate in usage-based insurance (UBI) programs, which has the potential to save customers money through more personalized insurance offerings.
“We’re excited about this agreement with Ford. As a trusted steward of data for more than 20 years, LexisNexis Risk Solutions continues to bring the insurance and automotive industries together with market-leading solutions to provide consumers with a better experience during insurance shopping and renewal. We want to continue delivering on our mission of providing unparalleled driving-related insights and benefits to insurers, automakers and their drivers.” – Adam Hudson, vice president and general manager, U.S. Connected Car, LexisNexis Risk Solutions.
“Ford owners who opt-in to usage-based insurance have the potential to reduce their total cost of vehicle ownership through more personalized insurance offerings and be rewarded for good driving habits. LexisNexis Risk Solutions is helping Ford customers more easily pursue the advantages of their vehicle’s connectivity for potential insurance benefits.” – Kari Novatney, General Manager, Connectivity Strategy & Partnerships, Ford Motor Company.
LexisNexis Risk Solutions ingests and normalizes connected car data through its data platform, the LexisNexis Telematics Exchange, to create driving behavior insights for US insurance carriers. This enables insurers to more accurately segment risk, while providing consumers the opportunity to reduce the overall cost of vehicle ownership by taking advantage of good driving behavior.