LexisNexis® Risk Solutions today announced it is expanding its global usage-based insurance (UBI) solutions with the acquisition of Wunelli, an industry-leading telematics data services company based in the United Kingdom. Together, the companies will empower insurers to leverage telematics data to make timely, informed decisions, reduce risk exposure and improve consumers’ experience with usage-based insurance.
“Wunelli brings telematics expertise, solutions, scores and unique data assets, experience with hundreds of millions of miles of telematics data that can help advance our existing telematics offering and provide our customers with greater ROI, and faster speed to market,” said Bill Madison, CEO, Insurance , LexisNexis. “With usage-based insurance projected to grow to approximately 15-30% of the global auto insurance market in the coming years, our customers have communicated an increased need for a variety of telematics solutions to help them attract safer drivers, improve retention and avoid adverse selection.”
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