Atlanta-based LexisNexis Risk Solutions has migrated its insurance solutions to its open source, big data processing platform called HPCC Systems.
The big data processing platform assists insurers assign premium more accurately and will better understand risk throughout the policy lifecycle, and drive a more profitable book of business for customers.
The open source HPCC Systems can manage, sort, link, join, and analyze billions of records in hours rather than months and can also run queries against these records with sub-second response time.
Data intensive supercomputing platform, HPCC will support enterprise customers who process large volumes of data in critical 24/7 environments and will also assist C.L.U.E. auto loss underwriting database to identify 8% more chargeable accidents, with specific to insurance.
C.L.U.E Auto is a standard loss underwriting database for auto insurance market and will be the first solutions to migrate to HPCC Systems.
With LexID and C.L.U.E. Auto solution on the HPCC Systems platform will provide actionable insights at the household level as well as in individual level and more subject-related claims with faster, more reliable claims history.
The platform also provides complex schemes and collusion fraud detection and reliable business continuity for insurers with full data recovery processing.
