LexisNexis analysis shows 1.3m motor policies were cancelled in the last year
Company says its data platform can help brokers save money by identifying customers who have a history of cancelling policies.
LexisNexis Risk Solutions has identified that 1.3m policies were cancelled in the past year, after analysing data from its Motor Policy History platform.
This is 32% of all new policies written, and the business said the cancellations data represents over 90% of the personal lines motor insurance market.
LexisNexis explained that brokers can use the platform to improve their motor quotation process and help them identify the policyholders that have had a cancellation in the past.
According to
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