NewswireToday - /newswire/ -
New York, NY, United States, 2014/03/03 - LexisNexis® Risk Solutions today announced that the Mapflow suite of products formerly known as Geo, Exposure and OneView have been brought together to form LexisNexis® Map View - LexisNexis.com.
LexisNexis® Map View provides insurers with the ability to fully understand location-based risk, particularly from the impact of climate change, and manage their total exposure accordingly. LexisNexis® Risk Solutions completed the acquisition of Mapflow in September 2013 as part of the business’ strategic vision to provide the insurance industry with the data, analytics, insight and technology required to confidently assess, predict and manage risk.
“Since integrating Map View’s technology in 2011, the International Insurance Company of Hannover PLC (Inter Hannover) has been able to better identify property and accumulation risks across the UK. As a result, we are today able to better manage these risks than ever before, something that has enabled us to increase annual revenues by over 50% whilst simultaneously reducing our claims ratio and reinsurance costs. Map View forms a key part of Inter Hannover’s continued success and I am pleased to see that LexisNexis will be able to give the service global support,” said Dave Hill, Senior Agency Underwriting Manager - Property, Inter Hannover.
Commenting on today’s announcement, Bill Madison, Chief Executive Officer, Insurance, LexisNexis, said “The 2013 acquisition of Mapflow supports our strategy to offer our customers the most comprehensive risk assessment solutions available and I am very pleased to make today’s announcement as part of our ongoing integration efforts. Together, our solutions enable insurance companies to make timely, informed decisions, streamline critical business processes while reducing exposure to loss, and improve client experience and retention.”
LexisNexis® Map View is a property risk assessment and exposure management platform that enables insurance companies to aggregate risk data from multiple sources and intelligently map insights against their unique business needs - allowing home and commercial property insurers to make more informed underwriting decisions, better manage risk and exposure, improve underwriting profitability and reduce reinsurance costs.
Over eight thousand property underwriters rely on LexisNexis® Map View to assess risk and manage exposure today.
About LexisNexis Risk Solutions
LexisNexis Risk Solutions (lexisnexis.com/risk/) is a leader in providing essential information that helps customers across industries and government predict, assess and manage risk. Combining cutting-edge technology, unique data and advanced analytics, Risk Solutions provides products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy. LexisNexis Risk Solutions is part of Reed Elsevier, a leading global provider of professional information solutions across a number of sectors. Our insurance solutions assist insurers with automating and improving the performance of critical workflow processes to reduce expenses, improve service and position customers for growth.
Media Contacts: Lara Cornwall, Cohn & Wolfe on behalf of LexisNexis
P: +44(0)20 7331 5340 - E: Lara.cornwall[.]cohnwolfe.com.