LexisNexis Risk Solutions Develops Proprietary System to Interpret Vehicle Safety Features for Insurance Industry

LexisNexis Risk Solutions, the leading data, analytics and technology provider for the insurance industry, has created the first purpose-driven Advanced Driver Assistance Systems (ADAS) and vehicle safety classification system for auto insurance pricing and claims analysis. The new classification system helps insurers break down barriers through access to relevant data and insights from automakers' ADAS features. It will be leveraged in the soon-to-be released LexisNexis Vehicle Build, a solution that identifies and categorizes specific ADAS equipped features at the VIN-level, enabling insurers to establish the differences in risk profile associated with these features. Among new U.S. vehicles, 92.7% have at least one ADAS feature available as an option, according to SBD Automotive. Other safety feature classification systems may categorize features into just'Active' or'Passive' groups, but the new LexisNexis ADAS classification system, also uses myriad ADAS descriptors used by car manufacturers and groups those features by their specific purpose.