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."

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.