LexisNexis Risk Solutions Enhances Claims Datafill with New Insights to Expedite U.S. Auto Insurance Claims Processing [Yahoo! Finance]
RELX PLC PLC American Depositary Shares (Each representing One Ordinary Share) (RELX)
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Source: Yahoo! Finance
ATLANTA April 11, 2024 /PRNewswire/ -- LexisNexis ® Risk Solutions , a leading data, analytics and technology provider, today announced LexisNexis ® Claims Datafill now offers the capability to proactively inform insurance carriers about the availability of a police report or violation data to help expedite insurance claims and improve the experience for consumers experiencing a loss event. Gathering information is one of the most time-consuming and costly steps in the claims process. According to 2023 LexisNexis Risk Solutions claims satisfaction research , 33% of consumers cited the length of time to settle claims as a primary reason for switching carriers. Increased claims severities, which are well above historical averages, have continued to challenge the U.S. auto insurance market, registering six consecutive quarters of at least 5% growth i . Fueled by labor and part shortages, the cost to repair – or replace – vehicles is increasing. More than a quarter of collision events
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