No-code, configurable platform provides
intelligence at point of application to help speed the life
insurance process while helping carriers mitigate fraud and identity risk
ATLANTA, Nov. 16,
2023 /PRNewswire/ -- LexisNexis® Risk Solutions, a
leading provider of data, analytics and technology solutions for
insurance carriers, today announced a new alliance with Agenium, a
leader in disruptive platform technology, to integrate data and
analytics into the life insurance application process, delivered
through an innovative, no-code configurable platform.
This is critical during a time when life insurers are grappling
with how best to improve the application process. At the point of
application, life insurers must detect fraud and misrepresentation, collect and correct missing
or inaccurate consumer data, and at the same time, create a process
that is not onerous to consumers. And many must also deal with
legacy systems, dated user interfaces, and limited ways to resolve
not in good order (NIGO) applications in real time.
"LexisNexis Risk Solutions is known for helping insurers
mitigate fraud and identity risk,
along with our ability to independently, electronically verify key
consumer data points, which helps speed the application process and
improves the consumer experience," said Debra Gangelhoff, vice president and general
manager at LexisNexis Risk Solutions. "Life insurers today are
seeking to bridge the legacy technology gap and deploy more
sophisticated approaches to data integration. Through our alliance
with Agenium, we will help deliver more data earlier in the
application process to allow carriers to triage cases quickly and
provide an improved experience for consumers and producers, while
still mitigating risk."
Agenium has harnessed the accuracy of LexisNexis® Instant ID®
and LexisNexis® Life Data Prefill solutions to empower life
insurers with a single-source solution to expedite a more accurate
electronic application experience. This proactive collaboration can
be deployed as a stand-alone e-App solution or can be used to
enhance existing technology workflow, as Agenium offers short-turn
delivery configurability in a dynamic and unique customer
experience. Speed to market is paramount, and the Agenium
Platform enables clients to enter production in weeks or months,
positioning them to capitalize on new revenue growth opportunities.
Aligning with Agenium, LexisNexis Risk Solutions continues to meet
its objectives of leveraging data and mortality modeling to help
life insurers meet the needs of their customers and business by
more quickly and accurately assessing underwriting risk, reducing
acquisition costs, helping prevent fraud and improving stratification and retention.
"Agenium's no-code platform combined with the data from
LexisNexis Risk Solutions will allow life carriers to make
next-gen, highly secure, sophisticated e-Apps a reality," said
Mike Risley, chief executive officer
at Agenium. "Whether our clients choose to use their existing
platforms, or the state-of-the-art Agenium platform and decision
engine, our technology is there to support powerful, reflexive
logic to speed the application journey and deliver more
intelligence via data earlier in the process."
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 analytics and decision tools for
professional and business customers. For more information, please
visit www.risk.lexisnexis.com and www.relx.com.
About Agenium
Agenium, a leader in disruptive platform technology, accelerates
digital innovation of the complete underwriting and new business
process for Life, Health, and Annuity carriers and distributors.
The Agenium Platform is a modern, no-code SaaS platform that
provides a secure, scalable, and flexible architecture with
complete integration to a carrier's legacy environment and all 3rd
party data sources. Using the latest rules, predictive AI, and
data analytics, our 30+ carriers are rapidly increasing auto
decisioning, reducing manual intervention, and improving time to
issue and profitability. Speed to market is paramount, and the
Agenium Platform enables clients to enter production in weeks or
months, positioning them to capitalize on new revenue growth
opportunities - a more complete solution at a fraction of the
cost of other vendors. See more at: agenium.ai
Media Contacts:
Chas
Strong
LexisNexis Risk Solutions
Phone: +1.706.714.7083
Charles.Strong@lexisnexisrisk.com
Dean Carney
Brodeur Partners for LexisNexis Risk Solutions
Phone: +1.646.746.5607
darmstrong@brodeur.com
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SOURCE LexisNexis Risk Solutions