Business News: LexisNexis, NCCI, Verisk

Atlanta-based Lexis Nexis Risk Solutions now includes multi-language capability in its telematics platform. This development can improve speed to market in each territory while providing the benefits of a consistent platform across different geographical regions.

The new multi-language capability has the ability to play a critical role in the global expansion of telematics as insurers around the world look to leverage the insights gained from Usage-Based Insurance (UBI) to improve rating and reduce claims losses.

LexisNexis Risk Solutions supports global insurer telematics propositions in key insurance markets including the UK, US, Spain, and Brazil. LexisNexis developed the capability for its telematics platform to be translated into each country’s primary language with the ability to add new languages as required. This capability also allows insurers to offer different languages in order to communicate with their customers in the language they prefer.

The LexisNexis Global Telematics Platform, houses data from insurers, OEMs and other after market data sources. LexisNexis cleanses, normalizes and filters data ingested as part of insurers’ UBI programs.

NCCI affiliates, regulators and independent bureaus can now view workers’ comp data at the classification level with NCCI’s interactive class tree map. The latest version allows users to:

The workers’ comp industry can use the tree map to visualize the impact of the most recent recession and other trends using aggregate payroll, premium,and loss data for more than 500 national classifications. It’s also useful for observing changes in several actuarial measures by individual class as well as across groups of classes—and group data by hazard, industry or schedule.

Verisk Analytics, Inc., a data analytics provider, has signed a definitive agreement to acquire Sequel from HgCapital and other Sequel shareholders. Sequel is an insurance and reinsurance software specialist based in London.

The acquisition will further expand Verisk’s comprehensive offerings to the global complex commercial and specialty insurance industry, enabling integrated global data analytics through a specialized end-to-end workflow solution.

The purchase price is £250 million. The transaction is expected to be neutral to 2017 adjusted earnings per share and accretive to 2018 adjusted earnings per share. Sequel had revenue and EBITDA of £26 million and £12 million, respectively, for the year ended June 30, 2017. The transaction is expected to close in third-quarter 2017, subject to the completion of customary closing conditions.