Kia partners with LexisNexis on connected vehicle technology collaboration.

Kia partners with LexisNexis on connected vehicle technology collaboration.

In a groundbreaking move, Kia Connect and LexisNexis Risk Solutions have announced a strategic partnership that aims to revolutionize the automotive and insurance industries. This collaboration, spanning 27 countries in the European Union (EU) and the United Kingdom (UK), will leverage connected vehicle data to offer smarter, safer driving and more personalized mobility.

Karsten Crede, CEO of Mobility Insurance Network, has highlighted the emergence of connected vehicle data as a powerful differentiator in these sectors. He believes that those who can translate driving behaviour into actionable insights will lead in the future.

At the heart of this partnership is the LexisNexis Drive Metrics model, a risk-based driving scoring system integrated into the Kia Connect app. This innovative system evaluates various factors such as speeding, hard braking, acceleration habits, time of day, and overall mileage to generate a driving risk score.

The Drive Metrics model enhances Kia's connected vehicle ecosystem by delivering real-time driving behaviour insights to users via the Kia app. It offers tailored coaching tips to help drivers improve safety and efficiency. Furthermore, it facilitates data sharing with insurers for refined risk segmentation and personalized insurance premiums based on actual driving patterns.

Olivier Pascal, head of connected cars at Kia Connect, expressed his excitement about the collaboration, stating that it will offer smarter, safer driving and more personalized mobility. Steve Kerrigan, who has been appointed as senior vertical market manager within the UK Connected Car group at LexisNexis Risk Solutions, will play a pivotal role in this initiative.

In addition, Fastnet Underwriting has entered into a new contract with LexisNexis Risk Solutions to use advanced technologies and processes for motor insurance premiums. This collaboration addresses challenges in data quality and standardization, regulatory compliance, cost reduction, and customer engagement.

In a market where customer expectations around personalization, transparency, and cost-efficiency are rising, this partnership is poised to set new standards. By linking driving behaviour directly to insurance risk and cost, it exemplifies how connected vehicle data can be leveraged to benefit drivers and insurers alike.

This initiative marks the beginning of a broader movement toward data-driven risk assessment in the automotive and insurance industries. As more insurers incorporate driving scores into pricing models, the potential for personalized insurance premiums based on actual driving patterns becomes a reality.

In conclusion, the partnership between Kia Connect and LexisNexis Risk Solutions is a significant step forward in the world of connected cars. By offering real-time driving insights, personalized coaching tips, and the potential for lower insurance costs, this collaboration empowers customers to proactively reduce their vehicle ownership costs through improved driving.

1. The strategic partnership between Kia Connect and LexisNexis Risk Solutions, set to revolutionize the automotive and insurance industries, focuses on the use of telematics and connected vehicle data for smarter, safer driving and personalized mobility.
2. Karsten Crede, CEO of Mobility Insurance Network, believes those who can translate driving behavior into actionable insights will lead in the future, emphasizing the power of connected vehicle data as a differentiator in these sectors.
3. The partnership leverages the LexisNexis Drive Metrics model, an innovative risk-based driving scoring system integrated into the Kia Connect app, which evaluates driving habits and generates a driving risk score for real-time insights, personalized coaching tips, and data sharing with insurers.
4. Olivier Pascal, head of connected cars at Kia Connect, and Steve Kerrigan, senior vertical market manager at LexisNexis Risk Solutions, will play essential roles in this initiative that offers benefits to both drivers and insurers.
5. Fastnet Underwriting has entered into a new contract with LexisNexis Risk Solutions to address challenges in data quality, standardization, regulatory compliance, cost reduction, and customer engagement through advanced technologies and processes for motor insurance premiums.
6. This partnership is expected to set new standards in the industry, where customer expectations around personalization, transparency, and cost-efficiency are rising, and drives the broader movement toward data-driven risk assessment in the automotive and insurance industries, paving the way for personalized insurance premiums based on actual driving patterns.

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