RELX PLC - RELX STOCK NEWS

Cirium has developed a precise methodology for calculating CO₂ emissions and fuel burn for flights. This innovation has been recognized by major airlines such as American Airlines and Virgin Atlantic, who praised Cirium's accuracy. Notably, Zurich Insurance has partnered with Cirium to analyze corporate travel emissions, aiding their sustainability goals. Cirium aims to be the standard in aviation emissions reporting, providing data that allows clients to better understand and manage their carbon footprint. The comprehensive methodology incorporates various data points, including aircraft specifications and operational data.

LexisNexis Risk Solutions, a part of RELX, has acquired Flyreel, a Denver-based property insurtech specializing in AI-driven self-service property inspections. This acquisition aims to enhance underwriting and claims processes by integrating Flyreel's technology with LexisNexis's extensive data analytics capabilities. By using the Flyreel app, consumers can conduct comprehensive property scans, improving risk assessment and customer satisfaction while reducing costs for insurers. The acquisition promises to deliver a transformative platform for property risk assessment.

The LexisNexis Risk Solutions Insurance Demand Meter indicates a 4.8% decline in U.S. auto insurance shopping growth in Q1 2022, marking the third consecutive quarterly drop. This drop is attributed to higher claims costs and a 16% decrease in new car sales. New policy growth fell 11%, as insurers reduced marketing budgets amidst economic pressures. However, industry experts suggest that rate increases could prompt a resurgence in consumer shopping in the coming months. The report highlights the ongoing struggles due to pandemic-related challenges, including inventory shortages and inflation.

The LexisNexis Risk Solutions Corporate Digital Payments Study, conducted with Capgemini Invent, reveals key insights into the corporate account-to-account (A2A) payment market. Covering regions such as North America, Europe, and Asia-Pacific, the study found that corporate non-cash payments reached approximately 133 billion transactions in 2021 and are projected to near 200 billion by 2025. A2A solutions dominate payment processing, accounting for over 50% of accounts payables and receivables. Digital transformation is now a priority for nearly 60% of corporations as they adapt to new payment technologies.

Cirium and 3Victors have announced a strategic partnership aimed at enhancing travel demand forecasting in the post-pandemic era. This collaboration allows airports and Destination Marketing Organizations (DMOs) to utilize Diio by Cirium’s flight schedules and traffic data alongside 3Victors’ DemandView search data. This comprehensive solution will accurately analyze passenger trends and identify opportunities in an evolving travel landscape, crucial for optimizing marketing strategies and service retention.

The True Cost of Fraud Study for Real Estate by LexisNexis Risk Solutions reveals significant increases in mortgage-related fraud over the past three years, particularly linked to online and mobile transactions. The study surveyed 360 risk executives and found consumer fraud constitutes two-thirds of lender losses. Key findings indicate that depository originators incur $5.34 in costs for every $1 of fraud, while non-depository firms face $4.66. Identity verification challenges are prevalent, and a multi-layered fraud prevention strategy integrating technology is recommended to mitigate risks.

LexisNexis Risk Solutions announced the approval of its Rooftop analytics tool for home insurance carriers in multiple states, including Alabama, Georgia, Louisiana, and South Dakota. This model aims to accurately price roof risk by assessing aerial imagery and historical claims data. The average home insurance loss ratio has now surpassed 89%, with the approved states accounting for nearly 19.2% of national hail losses. The Rooftop model boasts a potential 20x lift in loss cost relativity, assisting insurers in better managing their expense ratios and enhancing risk assessment.