Latest news with #LexisNexisRiskSolutions
Yahoo
a day ago
- Business
- Yahoo
Playback Now Available for AM Best-Hosted Webinar on How Insurance Carriers Can Outsmart Cybercriminals
OLDWICK, N.J., August 13, 2025--(BUSINESS WIRE)--Video playback is now available for a complimentary webinar titled "Fortifying the Future: How Insurance Carriers Can Outsmart Cybercriminals with Multi-Layered Identity Fraud Protection," hosted by AM Best and sponsored by LexisNexis Risk Solutions. Access it here. In today's digital-first insurance landscape, cybercriminals are becoming more sophisticated — exploiting vulnerabilities in identity verification systems and targeting carriers with increasingly complex fraud schemes. Traditional defenses are no longer enough. In this one-hour webinar, a panel of insurance and technology experts explores how to build a resilient fraud prevention strategy using a multi-layered identity fraud management solution. Discover how integrating behavioral biometrics can add a powerful layer of protection—analyzing user behavior in real time to detect and stop fraud before it happens. Panelists include: Jennifer Kostyrna, director, product management, LexisNexis Risk Solutions Flavio Villanustre, SVP and chief information security officer, LexisNexis Risk Solutions Mike Jones, vice president of security platform services, Nationwide Visit our information page to learn more about AM Best's webinars. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Lee McDonald Senior Vice President, Publication & News Services +1 908 882 2102 Sign in to access your portfolio
Business Wire
a day ago
- Business
- Business Wire
Playback Now Available for AM Best-Hosted Webinar on How Insurance Carriers Can Outsmart Cybercriminals
OLDWICK, N.J.--(BUSINESS WIRE)--Video playback is now available for a complimentary webinar titled 'Fortifying the Future: How Insurance Carriers Can Outsmart Cybercriminals with Multi-Layered Identity Fraud Protection,' hosted by AM Best and sponsored by LexisNexis Risk Solutions. Access it here. In today's digital-first insurance landscape, cybercriminals are becoming more sophisticated — exploiting vulnerabilities in identity verification systems and targeting carriers with increasingly complex fraud schemes. Traditional defenses are no longer enough. In this one-hour webinar, a panel of insurance and technology experts explores how to build a resilient fraud prevention strategy using a multi-layered identity fraud management solution. Discover how integrating behavioral biometrics can add a powerful layer of protection—analyzing user behavior in real time to detect and stop fraud before it happens. Panelists include: Jennifer Kostyrna, director, product management, LexisNexis Risk Solutions Flavio Villanustre, SVP and chief information security officer, LexisNexis Risk Solutions Mike Jones, vice president of security platform services, Nationwide Visit our information page to learn more about AM Best's webinars. Copyright © 2025 by A.M. Best Company, Inc. and/or its affiliates.
Forbes
17-07-2025
- Business
- Forbes
Lenders' Cure In The Customer Lifecycle
Credit Score Data As a series of compounding pressures challenge lenders heading into the back half of 2025, risk managers are becoming increasingly aware that they're attempting to meet lending goals using credit data which is gradually declining in coverage and predictive strength. 'To stay competitive, lenders need to incorporate a broader set of alternative data into their risk assessment process to fill the gaps in traditional credit data,' Kevin King, vice president of credit risk at LexisNexis Risk Solutions, told me in an interview. 'According to our research, traditional methods fail to evaluate over 25% of today's consumer credit applicants. This creates a tremendous opportunity for lenders who are willing and able to further refine their decision strategies,' he added. Industry Analyst firm Datos Insights found that compared to a year ago, lenders are now 59% less confident in their ability to compete when making consumer lending decisions based on traditional credit data alone. This decline in confidence reflects the growing visibility gaps created by regulatory changes, increased use of non-reported financial products and shifts in credit reporting practices. A key challenge has emerged – the limited view of true consumer credit risk. This gap is further complicated by credit invisible consumers (those lacking a traditional credit file), limited access to alternative information (data sources that can enhance risk models) and rising fraud rates. Without insights into negative payment history, delinquency data and consumer population information, lenders risk falling behind in a fast-changing market. To date, 2025 has proven to be a year of unexpectedly heavy challenges for consumers' credit stability. Improved economic conditions have yet to materialize, while resumed student loan obligations add significant pressure on tens of millions of borrowers. This has coincided with a continuing evolution in consumer credit preferences, as the popularity of Buy-Now-Pay-Later (BNPL) loans has deepened, if not significantly broadened, in recent years and is largely untraceable through credit reporting data. A recent Prosper Insights & Analytics survey underscores some of these consumer financial pressures – with roughly a third of responding consumers across all age segments saying they planned to reduce spending in the next three months. Prosper - Personal Financial Plans The same survey saw consumers state that over half of their planned use of credit products would focus on life essentials like food, shelter, and medical bills, with discretionary spending on items like travel and entertainment making up a far smaller portion of expected spending. Prosper - Contributes Most To Credit Card Debt As ever, competitive pressures continue to weigh on risk managers – with bookings, profitability and loss goals only growing despite an increasingly crowded market of financial institutions, fintechs and BNPL players vying to meet consumer credit needs. Against the backdrop of shifting consumer behaviors and pressures, growing portfolio size and profitability have been further complicated by the declining coverage and predictive strength of traditional credit data. This well-documented issue still requires the need for lenders to look at the tradeline credit data leveraged in credit scores and reports risk managers have used for decades but notably expands the need to build upon those data sources with alternative credit data. For the past 15 years, many lenders have thought of alternative credit data strictly through the lens of financial inclusion – a use case where established data sources continue to deliver significant value. But evolutions in alternative data solutions, particularly those that aggregate a broad set of consumer insights spanning from improved views into short and long-term credit signals, have allowed risk managers to recapture much of the signal that has been lost from traditional credit data when evaluating consumers with established credit profiles. 'LexisNexis Risk Solutions' Global Consumer Lending Confidence Report revealed that compared to a year ago, 88% of US lenders are more confident in using alternative credit data. This shift underscores the industry's recognition that conventional data alone doesn't meet the demands of today's market,' says King. Alternative credit data helps close visibility gaps by providing lenders with a more holistic view of consumer credit health. It includes life event indicators such as professional licenses, asset ownership and public records, as well as credit-seeking behavior from online and short-term lending sources. In some cases, it also captures digital activity, offering insight into financial intent where traditional indicators fall short. Viewed through the eyes of lenders looking to meet portfolio targets over the next 36 months, the ability of alternative credit data to provide reliable, value-added insights on the majority of consumers – and to do so across the entire customer journey – is essential. Once seen primarily as a tool for promoting financial inclusion, modern alternative credit data now enhances decision-making for consumers with both limited and established credit histories. Equally important to help lenders meet today's challenges is alternative credit data's expansion across all stages of the customer lifecycle. Once strictly viewed as a tool for underwriting, the most mature solutions now deliver consistent, actionable insights into consumer behaviors that traditional credit reports often miss, from customer acquisition and onboarding to account management and collections. Finally, alternative credit data has emerged in 2025 as a highly effective tool in combatting credit abuse – often referred to as first-party fraud – now the leading global fraud type according to the latest Cybercrime Report. This challenge, characterized by consumers who provide their true identity information but fully intend on defaulting when they apply for new accounts, has been a large and expanding gap in risk defenses for over a decade. Now, powerful new alternative credit insights, which offer lenders both the ability to identify and automatically decline high-risk applicants, are providing critical protection against first-party fraud. The world of alternative credit data continues to evolve and exciting new insights such as cash flow data speak to its long-term potential. Yet, lenders would be wise not to overlook their ability to serve as a lighthouse in navigating the foggy risk landscapes of 2025 and 2026.
Auto Express
25-06-2025
- Automotive
- Auto Express
Kia's new app turns your phone into a car insurance black box
Kia's new app essentially turns your phone into a 'black box', providing feedback about your driving and passing on details to car insurance providers, potentially saving you money. Partnering with data analytics firm LexisNexis Risk Solutions, Kia has developed a special 'Driving Insights' feature, which acts a bit like a backseat driver, rating several elements such as your speed, braking and distance travelled to provide an overall safety score. Once rated, users can choose to send this data to insurers and, much like with a traditional black box policy, receive a personalised insurance quote, which can fluctuate depending on how they drive. Advertisement - Article continues below The Head of connected cars at Kia, Olivier Pascal, says the new feature is 'empowering our customers with real-time driving insights while supporting the insurance industry with meaningful, privacy-conscious data, enabling insurance providers to deliver tailored solutions like never before.' This comes at a time where car insurance premiums sit at an average of £757, according to price comparison site, This is the lowest they've been in the past two years, but usage-based insurance policies have the potential to bring down costs even further – or make things more expensive, depending on how you drive. Kia's new app isn't just a way to rate your driving; the Korean firm's new companion app has also combined several features that were previously only available via separate applications, such as accessing warranty information, locking and unlocking the car, and accessing chargepoints via the Kia Charge service. If you download the new app, Kia says existing accounts will be automatically transferred over, meaning you'll only need to sign in once to access all of the features it has to offer. The new Kia App is available to download now on both iOS and Android Devices via the App Store and Google Play Stores respectively. Tell us which new car you're interested in and get the very best offers from our network of over 5,500 UK dealers to compare. Let's go…
Malaysian Reserve
25-06-2025
- Automotive
- Malaysian Reserve
LexisNexis Risk Solutions and Kia Europe Enhance Driving Insights in the Kia App to Help Owners Reduce Risk and Seek Personalised Insurance Offerings
LONDON, June 25, 2025 /PRNewswire/ — LexisNexis® Risk Solutions and Kia Connect have announced a strategic collaboration to enhance Kia's connected vehicle ecosystem. Kia Connect will utilise the leading information provider's scoring service, which provides driving risk insights for Kia's connected vehicle ecosystem leveraging the LexisNexis® Drive Metrics model. This initiative, spanning 27 countries in the European Union (EU) and the United Kingdom (U.K.), will introduce a consumer-friendly, risk-based driving score into Kia Europe's newly updated app, the Kia App, empowering Kia owners that select the service with deeper insights into their driving behaviour. A Drive Metrics score, including additional driving-related insights, will also be made available at the owners' request to Kia's participating insurers, helping to enhance their risk assessment and deliver personalised insurance offerings. Empowering Drivers Through Risk Monitoring and Personalised InsightsA consumer-friendly, risk-based driving score derived from the Drive Metrics model will be integrated into the Kia App, which offers drivers feedback on their driving behaviour and their exposure to risk, including factors such as speeding, hard braking, acceleration patterns, time of day and mileage. This allows consumers to proactively adjust their driving habits, reinforcing safer behaviour on the road. By utilising analysed driving patterns, the Kia App, will offer tailored driving coaching tips, giving consumers the ability to change their driving behaviour and to potentially lower their insurance costs and improve vehicle efficiency. Through their relationships with Kia Connect, participating insurers will also be able to incorporate the driving scores into pricing models, offering consumers more personalised insurance rates based on actual driving behaviour. 'We are pleased to collaborate with Kia Connect on this important endeavour to help Kia owners proactively lower their cost of vehicle ownership. By embracing the use of their driving behaviour data, Kia owners can improve their driving behaviour. Additionally, Kia owners will have the option to share the scores with their insurer to personalise their insurance premium,' said James Burton, managing director, Europe and U.K. insurance, LexisNexis Risk Solutions. 'Leveraging a scoring service that utilises our Drive Metrics model, automakers are better positioned to support their owners and insurers with more accurate segmentation based on actual driving risks and enable more personalised pricing of policy premiums.' Addressing Key Automotive and Insurance Industry ChallengesAutomakers and insurers alike face several challenges in leveraging connected car data effectively, including: Data Quality and Standardisation: Connected car data often lacks uniform formatting, making it difficult for insurers to integrate into underwriting practices. LexisNexis Risk Solutions addresses this by normalising and standardising Kia Connect's anonymised driving data for insurer-ready insights. Regulatory Compliance: With important data privacy laws such as the General Data Protection Regulation (GDPR), it is crucial to ensure that consumer personal data is processed and handled with full transparency. The Kia App enables consumers to provide consent to Kia before their personal data is collected, ensuring a privacy-first approach. Cost Reduction and Customer Engagement: Leveraging the insights from Drive Metrics can help consumers manage expenses by promoting better driving behaviours that could lead to lower insurance premiums and long-term cost savings. Kia Europe also benefits from deeper customer and brand engagement by integrating these insights into its app. Benefits for Consumers, Insurers and AutomakersKia Europe's high app adoption and usage rate ensures that partnered insurers gain access to interested, engaged segments of the population without the cost and complexity of maintaining their own usage-based insurance (UBI) programmes. This can give insurers a competitive edge by improving risk segmentation, offering more personalised pricing and enhancing customer retention. 'Connected services are reshaping the driver experience, and by utilising the LexisNexis Risk Solutions scoring service that integrates driving insights from the LexisNexis Drive Metrics model into our Kia Connect platform, we're taking the next step in offering smarter, safer driving, and more personalised mobility,' said Olivier Pascal, head of connected cars, Kia Connect. 'This collaboration empowers our customers with real-time driving insights while supporting the insurance industry with meaningful, privacy-conscious data to deliver tailored insurance solutions. It's a win for our drivers—and for the future of connected mobility.' 'Automakers and insurers continue to evolve how they engage with consumers, with connected vehicle data emerging as a powerful differentiator,' said Karsten Crede of Mobility Insurance Network. 'In a market where customer expectations around personalisation, transparency and cost-efficiency are rising sharply—especially among EV owners—those who can translate driving behaviour into actionable insights will lead.' Future Innovation and ExpansionThis initiative marks just the beginning of a broader movement toward data-driven risk assessment in the automotive and insurance industries. As vehicles continue to become more connected, LexisNexis Risk Solutions remains committed to evolving risk-based solutions that help insurers, automakers and consumers navigate the future of mobility. LexisNexis Risk Solutions scoring as a service is a demonstration of this ongoing commitment to innovation and offering dynamic solutions across multiple markets. About LexisNexis Risk SolutionsLexisNexis® Risk Solutions harnesses the power of data, sophisticated analytics platforms and technology solutions to provide insights that help businesses across multiple industries and governmental entities reduce risk and improve decisions to benefit people around the globe. 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 LexisNexis Risk Solutions and RELX. About Kia EuropeKia Europe is the European sales and manufacturing division of Kia Corporation – a global mobility brand that is creating innovative, pioneering, and leading sustainable mobility solutions for consumers, communities, and societies around the world. As a Sustainable Mobility Solutions Provider, Kia is spearheading the popularization of electrified and battery-electric vehicles and developing a growing range of mobility services, encouraging people around the world to explore the best ways of getting around. Kia Europe, headquartered in Frankfurt, Germany, employs in total over 5,500 employees from 40 nationalities in 39 markets across Europe and the Caucasus. It also oversees European production at the company's state-of-the-art facility in Zilina, Slovakia. Kia's innovative products continue to attract great acclaim, notably the EV6 battery electric vehicle becoming the first Korean car to be named European Car of the Year in 2022. Further information can be found here: About Kia ConnectKia Connect is an in-car and app-based telematics system designed to make driving a more intuitive experience. Features include accurate traffic and ETA prediction, 'best-in-class' data provision, remote access to vehicle information, and now over-the-air software updates. Kia Connect's suite of on-board technologies can be accessed through the vehicles' central touchscreen. EV owners can also use the Kia App to set climate control levels, view their vehicle's charging status, plan smart charging schedules and check the range radius based on the remaining charge. The Kia App is available for download via the Google Play and Apple App stores. Media Contacts:Regina HaasLexisNexis Risk Solutions+ Pablo González HuertaKia Europe+49 69 850 928 342pghuerta@ Photo – – View original content:
