LexisNexis Risk Solutions and Ford Motor Company have entered into an agreement that would make Ford connected vehicle data available to U.S. 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 programs, which has the potential to save customers money through more personalized insurance offerings, the announcement said.
“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,” said Kari Novatney, general manager, connectivity strategy & partnerships, Ford Motor Company. “LexisNexis Risk Solutions is helping Ford customers more easily pursue the advantages of their vehicle’s connectivity for potential insurance benefits.”
LexisNexis Telematics Exchange creates driving behavior insights for U.S. insurance carriers to use within their existing auto insurance workflows. This allows 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. By leveraging data sourced through the Telematics Exchange, insurers can have an easier path to access driving behavior data for point of quote, underwriting, and renewal, whether or not they have an existing insurer-led UBI program.
“We’re excited about this agreement with Ford,” said Adam Hudson, vice president and general manager, U.S. Connected Car, LexisNexis Risk Solutions. “We want to continue delivering on our mission of providing unparalleled driving-related insights and benefits to insurers, automakers, and their drivers.”
LexisNexis Risk Solutions works with 95 of the top 100 U.S. auto insurers. The company also recently partnered with Kia to help owners benefit from their cars' advanced driver assistance systems when shoping for auto insurance.