Andrew Ballard, product principal at LexisNexis Risk Solutions, outlines why the company should win the Challenger of the Year category at the 2022 Insurance Times Awards
Explain briefly about your entry in the Challenger of the Year category.
What do you think makes your entry stand out or different from your competition?
It started with creating an adas classification. We then analysed how adas fitments relate to claims - over three million vehicles have been processed in retrospective tests and over 26 million vehicles in production have been analysed to date.
By adding another layer of granularity, insurance providers can refine their pricing strategies, reward customers for their investments into safety features and demonstrate to the FCA the steps they are taking to deliver the right motor insurance cover at the right price.
What would winning this award mean to you and your firm?
Winning this award would be testament to the tireless work and commitment of our team and demonstrate our ongoing commitment to innovate on behalf of the insurance market.
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