RELX PLC - RELX STOCK NEWS

LexisNexis Risk Solutions has launched Total Property Understanding, a new property intelligence solution aimed at improving home insurance underwriting in the U.S. This innovative tool utilizes AI and extensive data from interior, exterior, and aerial property assessments to enhance risk evaluation. By integrating insights from the recent Flyreel acquisition, it significantly aids insurers in identifying properties requiring further scrutiny, streamlining the underwriting process, and increasing profitability, which has been a critical concern due to rising claim costs. The solution promises to expedite the underwriting process up to three times faster than traditional methods, offering a comprehensive and customizable evaluation approach for insurers.

RELX, a global provider of analytics and decision tools, reported strong trading momentum ahead of its Annual General Meeting, reaffirming its full-year outlook. The performance across all four business segments remains robust, driven by a shift to higher growth analytics and decision tools. The company expects underlying revenue growth to surpass historical trends, supported by rising adjusted operating profit and earnings per share. Each business area, including Business Services, Scientific, Technical & Medical, Legal, and Exhibitions, anticipates continued growth above historical averages this year. The company maintains a market capitalization of approximately £50bn/€57bn/$62bn.

LexisNexis® Risk Solutions has released a white paper, produced by Aite-Novarica, addressing challenges posed by sophisticated fraud threats amid rising digital adoption. The report highlights that a significant number of consumers have reduced their use of person-to-person (P2P) payment platforms due to fraud concerns, with 43% of U.S. respondents indicating such worries. Fraud executives rank consumer scams as a top concern, with many organizations increasingly adopting behavioral biometrics as a solution. This technology passively authenticates users, enhancing customer experience while identifying fraudulent activities. The white paper underscores the importance of multi-dimensional identity views in effective fraud prevention.

LexisNexis Risk Solutions has appointed Adam Mariano as the new president and general manager of its healthcare division. Mariano, a seasoned professional with over 20 years of experience across various healthcare sectors, aims to enhance the strategic direction and operational execution of the division. His previous roles include head of global strategic operations at IQVIA and vice president at HighPoint Solutions, focusing on data management and analytics. Mariano's multifaceted background as a nurse, technologist, consultant, and attorney positions him to drive innovation and address critical healthcare challenges. The company, part of RELX, leverages advanced data and analytics to provide insights that help improve decision-making in multiple sectors, including healthcare.

Cirium has introduced the aviation industry's first Airline Routes tool, which utilizes satellite-based flight tracking data to analyze actual flights by aircraft type. This innovative tool allows businesses to assess aircraft demand and identify growth or reduction in airline networks. For instance, Indian low-cost carrier IndiGo operated 172 flights between Delhi and Kathmandu in January 2023, up from none in January 2022. The tool, part of Ascend Profiles, supports decision-making for 1,700 airlines by providing accurate insights into flight completion and network dynamics.

On March 9, 2023, LexisNexis Risk Solutions announced enhancements to its AI-driven property inspection tool, Flyreel. These upgrades aim to improve underwriting efficiency for U.S. property insurers facing rising loss ratios and workforce challenges. The no-code solution allows insurers to customize risk assessments based on their underwriting preferences, expediting the identification of critical property issues such as damage and safety concerns. Amid increasing home claim severity, which rose by 37% year-over-year, these enhancements are designed to equip insurers to better navigate market challenges, thereby improving operational effectiveness.

The LexisNexis Risk Solutions Insurance Demand Meter reported a 2.8% year-over-year growth in U.S. auto insurance shopping for Q4 2022, an increase from 1.2% in Q3. New policy growth surged by 10.2% compared to Q4 2021. This rise follows an average premium hike of over 9% in 2022, prompting increased shopping activity as consumers faced significant rate revisions since August 2022. Notably, the 55+ age group showed the highest increase in purchase rates. Forecasts suggest continued volatility in shopping rates for 2023 due to ongoing insurer rate revisions and tax-related impacts.

The LexisNexis Risk Solutions Insurance Demand Meter reported that U.S. auto insurance shopping grew by 2.8% in Q4 2022, up from 1.2% in Q3 2022. New policy growth surged 10.2% year-over-year, indicating a shift in consumer behavior due to rate increases averaging over 9% in 2022. Significant spikes in shopping occurred in November and December, driven by uneven rate revisions among insurers. The 55+ demographic exhibited the highest rate increases, as consumers sought more cost-effective policies. Moving into 2023, volatility in vehicle and insurance shopping rates is expected to continue, influenced by ongoing insurer rate revisions.

LexisNexis Risk Solutions released its True Impact of Failed Payments Report, revealing significant challenges in cross-border payment performance. Conducted with 400 payment executives globally, the report shows that over 70% are dissatisfied with their payment failure rates, costing an average of $12.10 per rejected payment. Common issues include incorrect bank beneficiary details, leading to increased workloads for staff. The report emphasizes the need for efficient Straight-Through Processing (STP) to enhance customer retention and reduce costs.

Key findings indicate that higher automation levels correlate to fewer customer losses due to payment issues.