Lexis Nexis targets 70% of the market with no claims database
Lexis Nexis is poised to launch a No Claims Discount (NCD) database for brokers and insurers in a bid to replace the current manual process of screening applicants.
The software firm said it is now taking contributions from "both major insurers and major national brokers".
It claimed two major insurers are set to get involved this February with "commitments" in place from "approximately 50% of the market" with 70% coverage expected by the year end.
In a statement Lexis Nexis continued that the product would provide "instant access to credible data, helping insurers and brokers reduce the burden on honest consumers while shortening the time an insurer is on
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