Peter Lynch to Head LexisNexis Insurance Exchange
21 May 2010
Lynch will lead new alliance formed through The Council for Insurance Agents and Brokers, MarketCore and LexisNexis to improve the efficiency and transparency of the intermediary distribution system.
LexisNexis Risk Solutions (New York) has appointed Peter C. Lnynch as head of the LexisNexis Insurance Exchange. In his new role, Lynch is responsible for the executive leadership, stratetic vision, and policies and procedures for the LexisNexis Insurance Exchange, a new business and remarketing placement system that enables the flow of data and documents between brokers and carriers. Currently in development, according to the company the exchange will combine both technology and information at each of the key workflow steps of the insurance transaction process to reduce redundant work and costs, as well as to enable agents and brokers to offer clients a broader choice of insurance products.
"LexisNexis Risk Solution has committed to improving the efficiency and transparency of the insurance distribution system by investing in the LexisNexis Insurance Exchange through our people, resources and technoloy," said Jeffrey Glazer, SVP of LexisNexis Insurance Solutions, in a press release. "With more than 20 years of insurance and technology expertise, Peter is a natural leader to execute the exchange development and launch, and to continue our alliance with The Council for Agents and Brokers in this important industry effort."
Most recently, Lynch led strategic product and services for LexisNexis Insurance Solutions, overseeing both the development and marketing of the company's portfolio of claims services. Lynch was also responsible for exploring new international opportunities across the LexisNexis Insurance Solutions business. In 2005 he joined Choicepoint, now a part of LexisNexis. Prior to Choicepoint, Lynch served as SVP and general manager of AIG Technologies (AIGT). Previously, he was president of Cover-All Technologies.
The LexisNexis Insurance Exchange is the result of an alliance formed through The Council for Insurance Agents and Brokers, MarketCore and LexisNexis to improve the efficiency and transparency of the intermediary distribution system and ensure all types and sizes of industry participants can utilize its services. Pilot programs for commercial lines are scheduled to begin in the fall of 2010, with full production scheduled for early 2011.