LexisNexis Risk Solutions announces its entry into the United Kingdom's insurance market. LexisNexis will help UK insurers assess risk, bringing new insight and valuable information about applicants to the point of quote. The company currently works with more than 300 general insurers in the U.S..

In the UK, insurers primarily rely on self-reported information from applicants, which is often flawed. Consumers and regulators are becoming less tolerant of insurers rejecting claims on the basis of inaccurate information gathered at the time of application.

In addition, the shift to online aggregation and shopping has created new opportunities for insurance fraud. As a result, insurers are recognizing the increasing need for high quality data that is available in real-time at point of quote or sale, to verify and enrich the understanding of applicants and their risks.

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