Big Data and NAIIA Members

Mr. William Brower of LexisNexis participated in the 2018 conference in Lake Tahoe. Since the conference, Bill and I have communicated back and forth. Bill has written articles about how independent adjusters and third-party administrators will be able to use big data as a strength.

The NAIIA and LexisNexis believe that carriers will continue to outsource claim handling to IA’s and TPA’s. As internal claims departments shrink, they will be more and more dependent upon the independent adjusting and third-party administrators to handle their claims process for them. A challenge for IA’s and TPA’s will be to provide the same suite of services that carriers are now using. LexisNexis is looking to providing that access by gathering complex information from a variety of sources, including departments of motor vehicles, public records, proprietary databases to assist in claim investigation, background information on individuals and businesses. This innovative linking technology would speed up our investigative processes and provide value both to our firms and to our clients.

In discussing the options with Bill, we were able to identify internal examples where we, Hausch & Co., could use the data to the benefit of our clients. A single source to obtain police reports, the ability to run a license plate and identify the vehicle owner, search for prior claim and accident history, as well as social media solutions when investigating claimants.

I am sharing the link to Mr. Brower’s LinkedIn article Rapid Data Provides Claims Automation Benefits for both Insurers & Independent Adjusters. I have also reached out to him to create an account for our firm to test what the possibilities are for using their data.

It’s possible that using LexisNexis may be your secret weapon to provide a suite of services that your competitors do not. If you are interested in learning more, please contact Bill Brower at William.Brower@lexisnexisrisk.com Dave Hausch, 2018-2019 NAIIA PresidentPresident and CEO of Hausch & Company

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