BOLT and LexisNexis Risk Solutions Form a Relationship to Simplify the Insurance Purchasing ProcessesDecember 12 2017
NEW YORK (December 12, 2017) — BOLT Solutions, Inc. (www.boltinc.com), provider of the leading online distribution and customer support platform to the property and casualty (P&C) insurance industry, announces its relationship with LexisNexis Risk Solutions, a leading provider of data, analytics and technology, to simplify and expedite the consumer and agent quotes process and improve quote-to-completion rates.
BOLT will leverage solutions from LexisNexis such as LexisNexis® Data Prefill, which provides consumers’ driver’s license numbers, VINs and more, to easily fill in information on the BOLT Platform’s online automobile insurance application and help improve customer experience.
“Our goal is to provide industry-leading data and analytics to increase the speed and efficiency of the online quote process,” said Bill Madison, CEO of Insurance at LexisNexis Risk Solutions. “Working with an innovator like BOLT, we can provide the ease and convenience consumers are looking for when purchasing personal and business insurance coverage.”
While most consumers shopping for auto coverage use direct to consumer (D2C) channels for quoting, only a small percentage of those quotes turn into new business. Streamlining the quote-to-issuance process with application pre-fill capabilities will help to increase quote-to-completion rates and drive business opportunities.
“Leveraging LexisNexis’ solutions will streamline the quote-to-issuance process to meet the needs of customers simply and quickly,” said Eric Gewirtzman, BOLT CEO. “The BOLT platform brings innovation and efficiency to the P&C insurance industry and this relationship is another step that is transforming the industry.”
The BOLT Platform supports more than 75,000 sales professionals, offers over 5,500 product integrations across 50 states and has $1.4B in annual premium flowing through the system.
About BOLT Solutions Inc.
BOLT® Solutions, Inc. (www.boltinc.com), the leading provider of digital distribution solutions to the P&C insurance industry, is helping insurers transform the way they sell and market their products to consumers and small business owners. Compatible with existing infrastructure, The BOLT PlatformTM provides a single interface that connects seamlessly with back-office systems and improves carrier reach through a vast market network of new products. Insurers gain the ability to bundle their offerings with those from other carriers, positioning them to meet all of the customer's needs without underwriting additional risk. Designed to connect carriers and their agents directly to consumers and small business owners, The BOLT Platform delivers the optimized solutions, and ideal experience customers expect today.
About LexisNexis Risk Solutions
At LexisNexis Risk Solutions, we believe in the power of data and advanced analytics for better risk management. With over 40 years of expertise, we are the trusted data analytics provider for organizations seeking actionable insights to manage risks and improve results while upholding the highest standards for security and privacy. Headquartered in metro Atlanta USA, LexisNexis Risk Solutions serves customers in more than 100 countries and is part of RELX Group, a global provider of information and analytics for professional and business customers across industries. For more information, please visit www.risk.lexisnexis.com.