Pricing is a growing challenge in the insurance industry as market conditions rapidly change, customer expectations are on the rise, and competition is fierce. Customers want accurate, competitive pricing from their insurance company—and if they don’t get it, they are often willing to switch to another company. An important factor in accurate pricing is vehicle data, but how can you be sure that the data you’re using is 100% correct?
We recently spoke with Liz Rozier, director of auto product development at LexisNexis Risk Solutions, to discuss how uncovering deeper accident and vehicle ownership insights helps in pricing policies more accurately to meet customers’ evolving expectations.
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