RELX PLC - RELX STOCK NEWS

LexisNexis Risk Solutions has launched LexID® for Insurance, designed to help U.S. insurance carriers link and connect disparate customer records. Utilizing proprietary linking technology and over 35 years of referential data, LexID creates a unified customer view, enhancing data accuracy and enabling personalized service. As insurers transition to a customer-centric approach, effective customer data management (CDM) is vital for competitiveness and compliance with evolving privacy laws. This solution aims to reduce inefficiencies, boost profitability, and improve customer experience.

Cirium's On-Time Performance Review 2021 highlights that December was the busiest month for flights, totaling 2.43 million. However, a significant 59,240 flights were canceled globally from December 24, 2021, to January 3, 2022, marking the highest cancellations for December in a decade. The surge in cancellations, including 20,500 in the first three days of the new year, was driven by the Omicron variant and operational challenges. American Airlines, the leading carrier with 1.85 million flights, faced challenges with on-time performance at 80.47%.

Cirium's 2021 Fleet Forecast predicts that US$2.9 trillion will be spent on about 45,000 new aircraft over the next 20 years. This surge in aircraft deliveries is driven by a projected annual passenger traffic growth of 3.7%. Notably, single-aisle jets will constitute 70% of these deliveries, with China expected to receive the largest share at 20%. Additionally, around 80% of the current passenger fleet is forecasted to retire by 2040. The forecast highlights a recovery in the aviation industry post-COVID-19, despite a significant drop in deliveries in 2020.

LexisNexis Risk Solutions and Shift Technology have announced a strategic alliance aimed at enhancing fraud detection and risk management in the insurance industry. This partnership allows insurance carriers to integrate LexisNexis Claims Clarity data into Shift's AI-driven decision models, improving the prediction of fraud and risk at the first notice of loss. Insurers can fast-track over 80% of claims with high confidence, resulting in enhanced efficiency and customer satisfaction. The collaboration seeks to address the industry's shift to real-time data processing for better decision-making.

Cirium's latest Airline Insights Review forecasts a significant recovery in the aviation industry, with global capacity projected to increase by 47% in 2022, returning to 2015 levels. Despite losing 15 years of growth due to the pandemic, 2021 saw a return to 2006 capacity levels, driven by strong domestic markets, particularly in the US and China. The global passenger fleet will rise from 17,000 to 20,700 by the end of 2022, with business travel expected to surge by 36%. However, CO2 emissions are anticipated to rise as flight activity increases.

CALIBRE Systems and LexisNexis Risk Solutions have secured a $34 million contract from the General Services Administration (GSA) to enhance digital identity verification for Login.gov. This partnership supports the GSA's Technology Transformation Services, focusing on online identity proofing and fraud detection. Both companies aim to improve citizen access to government services while ensuring security and compliance. The contract continues their collaboration with federal agencies since 2018, enhancing user experience and reducing costs for government entities.