LexisNexis Risk Solutions integrated its Drive Metrics telematics scoring model into the IMS EdgeSDK, a smartphone SDK that U.S. auto insurers can embed in their own app or use through an IMS white label app. Driving data is scored on the device, producing Drive Metrics scores and attributes consistent with LexisNexis Telematics Solutions, without sending trip data to cloud processing.
Our readInsurers without a usage based insurance program get a lower cost route to telematics underwriting, with the vendor claiming 50% to 80% lower UBI operating cost from removing cloud processing and storage fees. On device scoring also narrows how much consumer driving data the insurer has to collect and retain.