In terms of insurance carriers ability
to take advantage of the data today, it
would be very difficult. Manufacturers are giving various names to these features.
It's really not in a manufacturers interest to provide
consistent naming around ADAS features.
As a matter of fact, there's a certain
marketing cachet that comes with their
naming conventions. So it's really not in
their interest to standardize around
names. But, the carer needs to know that
OEM number ones technology package 301 a
is equivalent to OEM number two City
cents package. Luckily LexisNexis has been doing things
like this for years. We take over a
million violation codes from the 50
states and we standardize them down into almost 600 SVC codes. It's a very similar
effort with a ADAS features in OEM build
data where we take all of those features
from the various OEMs and normalize them
down so the carrier's can use that
information consistently across vehicles.
What's available immediately today is a
vehicle history product. And this is
where carriers can begin building their
expertise around the vehicle really
expand what they're using in their
vehicle rating. To understand what has
happened over the lifetime of the
vehicle, in 2019 when we release build
data that gives the menu the carrier the
opportunity to understand what happened
when the vehicle rolled off the assembly
line. And then when you combine that with connected car data which is what's
happening to that vehicle on a
second-by-second basis, that gives sort
of a cradle-to-grave overview of what's
happening with the vehicle, and it's
going to be really important to a
product manager at an insurance company to
understand that full lifespan of the
vehicle
