NEW YORK—Sixteen insurance brokerages have joined the LexisNexis Insurance Exchange, LexisNexis Risk Solutions said Monday.
The exchange, announced earlier this year, is designed to enhance the flow of application data among insurance agents, brokers and insurers. The exchange was established by an alliance of LexisNexis Risk Solutions, the Council of Insurance Agents and Brokers and intellectual property development company Marketcore Inc.
The 16 brokers are part of an early adopter program that will launch next month. An industrywide launch is slated for early next year.
“Streamlining the communication of data between agents and brokers, and improving the transparency and productivity of the current system has been a council goal for more than a decade,” CIAB President Ken A. Crerar said in a statement. He said the exchange “will simplify the major steps of the insurance transaction process, enabling access to key market information for better decisionmaking.”
According to Monday’s announcement, the participating brokerages are AmWINS Group Inc.; Brown & Brown Inc.; BB&T Insurance Services Inc.; John L. Wortham & Son L.P.; BancorpSouth Insurance Services Inc.; Rutherfoord/MMA Marsh & McLennan Agency L.L.C.; Edgewood Partners Insurance Center; Van Gilder Insurance Corp.; McQueary Henry Bowles Troy L.L.P.; Riggs, Counselman, Michaels & Downes Inc.; Sterling & Sterling Inc.; M3 Insurance Solutions Inc.; Early, Cassidy & Schilling Inc.; Roach Howard Smith & Barton; Oswald Cos.; and Cook, Hall & Hyde Inc.
