Our recent research showed that just 11% of the SME and small business insurance space in the UK is fully digitised, which means that 89% is not digitised. There is a lot of potential for improvement in this market.
The trend for more and more online quotations and automated underwriting in commercial and commercial property insurance is likely to continue. Our insurance clients are saying they expect this trend towards direct business and e-trading to be a key area of competition and there is a drive to digitise more solutions for greater speed and efficiency, with all the data demands that come with that.
Here Jonathan Guard, Commercial Insurance Director, LexisNexis Risk Solutions UK & Ireland describes these trends and the new solutions we are bringing to the business and commercial property insurance space.
In this video you will learn about:
• The services we are launching for the UK commercial insurance market: Perils Data from the LexisNexis® Map View service, linking Map View to the LexisNexis® Informed Quotes platform, business data distributed through the LexisNexis® Informed Quotes platform, LexisNexis® Risk Insights for Commercial and LexisNexis® Property Insights.
• Other LexisNexis® Map View enhancements connecting it to the LexisNexis® Informed Quotes platform for dynamic pricing, LexisNexis® Risk Insights and LexisNexis® Property Insights.
• Ways of delivering easier and faster access to new sources of business data, business owner and business sector data, as well as property risk attributes.