London, UK and Atlanta, GA -- July 20, 2016. LexisNexis Risk Solutions, part of RELX Group, today announces the acquisition of Insurance Initiatives, Ltd. (IIL), a business which provides a data distribution platform that extracts, hosts and processes large quantities of data to deliver information predominantly into the point-of-quote in the UK's Property & Casualty Insurance industry. The acquisition of IIL will help UK insurers to transform business performance and continue to win new opportunities with data and advanced analytics from experienced insurance industry experts.
"By acquiring IIL, we can provide value to UK insurers, brokers, and MGAs through proprietary data analytics products derived from industry leading contributory databases. Injecting data directly into the point-of-quote, insurers can make more informed decisions faster, empowering them to deliver a better customer experience," said Bill Madison, CEO, Insurance, LexisNexis Risk Solutions.
Insurance solutions from LexisNexis enable Motor and Property insurers to:
- Better assess risk at point-of-quote and underwriting,
- More efficiently process claims, and
- Reduce application errors and fraud.
IIL utilises data and technology to deliver intelligence at key data-driven decision points throughout the customer lifecycle. Started in 2008, IIL delivers data enrichment strategies which enable insurers to provide the most accurate services possible to their customers predominantly at point-of-quote. The company is located in Nottingham, UK.
About LexisNexis Risk Solutions
LexisNexis Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers. For more information, please visit www.risk.lexisnexis.com and www.relx.com.