LONDON, Oct. 24, 2019 /PRNewswire/ -- LexisNexis® Risk Solutions is bringing together European insurers and the key car manufacturers to discuss their shared customer at the LexisNexis Risk Solutions European Connected Car Forum in Munich on 28th October 2019, ahead of the TU Automotive Europe event themed, "The Future of Mobility."
Shared mobility models will require more intelligence about the vehicle and the driver, how these elements correlate and the collective impact on risk. Fundamentally, the data will need to be managed in a fully-compliant manner in order to deliver the experience that consumers will expect from their vehicles.
–Bill Madison, CEO, Insurance, LexisNexis Risk Solutions
The LexisNexis Connected Car Forum has been created to support the further development of mobility services through connected car data and engender greater synergies between the insurance and car manufacturing markets as the volume of connected car data grows exponentially. At the forefront of this conversation are two main topics: the importance of understanding advanced driver safety system (ADAS) and best practices in managing consumer consent.
Thought-provoking questions to be discussed by insurers, automakers and industry experts attending the Connected Car Forum include:
- What are the specific use cases for connected car data? With myriad business model opportunities, how do you create an experience the consumer wants and needs, and a solid return on investment?
- What do insurers and car manufacturers need to know about ADAS data? What features and benchmarking are being considered industry standard? How can you translate this into an opportunity to communicate safety and other benefits to consumers?
- How should the industry be thinking about connected car data compliance? What about the consumer consent journey – how will it work in the real world?
"The volume of connected car data is on an upward trajectory. This new normal introduces business opportunities, challenges and more complexity for insurers when they underwrite new policies and process claims," said Rutger Van der Wall, SVP of Global Products, Insurance, LexisNexis Risk Solutions.
"We recognise that success for insurers and car makers will depend on speed to market and the ability to build compliant platforms that manage consent processes, as well as experiences and interfaces that are trusted and simple to use for the consumer. Our cross-industry event has been created to help both markets understand perspectives and philosophies on technology, data and value creation that will help them leverage connected car data for consumer good. The fact that 14 brands, representing all of the top car manufacturers, are attending speaks volumes to the importance of this conversation."
The insurance data and analytics leader and experts from its LexisNexis Risk Solutions Connected Car team will be joined by international law firm Bird & Bird and the connected car specialists from SBD Automotive.
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-based and analytics and decision tools for professional and business customers across industries. For more information, please visit www.risk.lexisnexis.com and www.relx.com.
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