The Insurance Exchange Trust Inc., an industry-controlled entitydesigned to oversee the LexisNexis Insurance Exchange, wasofficially unveiled. The role of the trust is to provide bothguidance and insight to LexisNexis Risk Solutions to ensure theInsurance Exchange fully supports the needs of the insurancedistribution market, carriers and their customers.

The LexisNexis Insurance Exchange is a single-entrycollaborative insurance placement platform that automates andstreamlines the flow of application data and documents betweeninsurance agents and brokers and wholesalers and carriers. It isdesigned to promote and facilitate competition in insurance marketsand to provide a level of efficiency and increasedproductivity.

"Visualize the trust as a ring around the LexisNexis InsuranceExchange, which functions to facilitate transparency, neutrality, fair pricing and dataprotection for all Insurance Exchange participants," says Ken A.Crerar, president of The Council of Insurance Agents & Brokersand Executive Chair of the Insurance Exchange board of trustees."The Insurance Exchange is an open ecosystem designed to help theentire industry and The trust will play an advisory role toLexisNexis Risk Solutions as the industry works together to shapethe Insurance Exchange."

The Insurance Exchange Trust, Inc. is a non-stock membershipcompany, which will be managed by members of the board of trustees.The first meeting of the board was held in October in Colorado. Atthe meeting, the major concern of the industry--protection ofdata--was reconfirmed with LexisNexis Risk Solutions. The trustholds the exclusive rights to determine any use of theparticipants' data that passes through the Insurance Exchangepipeline for external commercialization. In addition, any data thatmight be approved by the Trust would have to be aggregated andde-identified.

The following have been named to the Board as founding trustees:J. Hyatt Brown, Brown & Brown; Andrew G. Cassidy, Early,Cassidy & Schilling; Albert R. Counselman RCM&D; Ken A.Crerar, The Council of Insurance Agents & Brokers; M. StevenDeCarlo, AmWINS Group; Sharon Emek, CBS Coverage Group representingthe Independent Insurance Agents & Brokers of America; Clyde H.Fitch Jr., State Auto; Lawrence G. Graev, The GlenRock Grouprepresenting MarketCore; James Hackbarth, Assurex Global; RussellJohnston, CHARTIS; Greg Maciag, ACORD; Markham R. McKnight,BancorpSouth Insurance Services; Mark J. Moitoso, Liberty MutualGroup; H. Wade Reece, BB&T Insurance Services; George A.Steadman III, Rutherfoord/MMA; Robert H. Rheel, Zurich.