Case Study: LV= achieves better flood-risk assessment and underwriting profitability with LexisNexis Risk Solutions

LV= invests in LexisNexis® Map View technology to maximise its underwriting profitability and reduce its flood exposure

LV=, the UK's largest friendly society with over five million customers, sought to reduce its exposure to flood risk and maximize underwriting profitability as its commercial property insurance business grew. To empower its underwriting teams with better tools, the company turned to LexisNexis Risk Solutions and implemented their LexisNexis® Map View risk assessment and exposure management platform.

The LexisNexis solution provided LV= underwriters with an online tool featuring detailed street view technology and flood mapping to assess risk at the building level during the point-of-sale. The implementation, branded internally as LV=AccuRate, saved underwriters significant time, improved service to brokers, and opened the door to new business opportunities. LexisNexis Risk Solutions provided the technology that enabled LV= to significantly reduce its flood exposure and increase its overall underwriting productivity and profitability.

LV=

Mike Crane

Commercial Lines Director