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LexisNexis Insurance Exchange Gets New Leader, New Drive
The LexisNexis Insurance Exchange — an online single-entry submission system that streamlines the flow of application data among agents, brokers and carriers —celebrated its first anniversary in June. And just last week, LexisNexis Risk Solutions announced that the company would integrate the LexisNexis Insurance Exchange into its commercial insurance business, a move the company says will create more effective and efficient processes for the commercial insurance industry.
One of the primary reasons behind the recent integration is to help drive the insurance industry’s adoption of a new platform, says Ernie Feirer, vice president of commercial insurance, who will now lead the LexisNexis Insurance Exchange.
And while the Exchange boasts success in its 14-month history, Feirer says in this interview that when discussing progress one must be realistic. After all, it takes time to build a collaborative platform, he says.