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RELX PLC (LSE: REL, NYSE: RELX) is a British multinational information and analytics company headquartered in London, England. As a global provider of information-based analytics and decision tools, RELX caters to professional and business customers across various industries. The company's core operations span scientific, technical, and medical information and analytics, legal information and analytics, decision-making tools, and the organization of exhibitions.
One of RELX's key business segments includes LexisNexis Risk Solutions, which recently announced the availability of LexisNexis® Flyreel® for the commercial insurance market. This advanced property survey solution utilizes AI-driven insights to help carriers assess property risk efficiently. The solution has already gained momentum in the home insurance market and is now expanding into commercial property insurance, helping carriers streamline underwriting programs through AI-enabled automation.
RELX has a significant presence in North America, generating around 60% of its revenue from the region. Europe contributes approximately 20% to the company's revenue. The company's impact extends to organizing large-scale digital and face-to-face events such as industry trade shows, exemplified by recent events like WEPACK 2024, a major packaging industry exhibition held in Shenzhen, China.
RELX continues to innovate in various fields, as highlighted by LexisNexis Risk Solutions' ranking as a leader in Product Vitals in Javelin Strategy & Research's 2024 Authentication and Identity-Proofing Vendor Solutions Scorecard report. Additionally, RELX's commitment to the packaging industry is evident through its organization of events like WEPACK, which showcases global packaging industry innovations.
Financially, RELX maintains a robust balance sheet, supported by its diverse and stable revenue streams. The company's ongoing projects and strategic partnerships are aimed at driving growth and maintaining its leadership position in information and analytics.
For more information, visit the RELX website.
LexisNexis Risk Solutions has announced a strategic alliance with Radar, a leader in geofencing technology, to develop compliance solutions for the gaming and gambling industry. This collaboration aims to ensure that devices used for online gambling in the United States comply with state regulations. The alliance comes as the sector experiences record-breaking revenue of over $66 billion annually, a 10.3% year-over-year increase.
The partnership will integrate Radar's geofencing capabilities with LexisNexis Risk Solutions' data and technology to create tools that verify devices are within appropriate legal jurisdictions. This solution addresses the complex regulatory landscape, with 38 US states plus DC having legalized mobile gambling. The collaboration will enable operators to manage the entire customer lifecycle, including KYC, fraud prevention, and compliance, in a seamless manner.
The FILM & TAPE EXPO 2024, Asia's leading B2B tradeshow for functional film and adhesive tapes, is set for November 6-8 at the SHENZHEN World Exhibition Center. Organized by RX Kuozhan, the event will cover 160,000 sqm, featuring over 3,500 suppliers and expecting 150,000+ industry professionals. Pre-registration is now open, offering free entry (saving $15).
The expo introduces five new features: Scale Upgrade with six connected shows, Exhibits Upgrade showcasing 5,000+ materials, Exhibition Zone Upgrade with five specialized areas, Activity Upgrade offering 20+ technical seminars, and Visitors Privilege Upgrade including VIP benefits. International visitors can join the 'Million Subsidy Autumn Procurement Benefits' plan for additional perks.
LexisNexis Risk Solutions' latest study reveals a significant increase in small and medium-sized business (SMB) lending fraud, with over 80% of respondents reporting a nearly 14% rise over the past year. Key findings include:
1. Stolen legitimate business and consumer/owner identities are the most common fraud types.
2. 70% of organizations have adjusted their fraud detection strategies.
3. Companies anticipate overall losses between 6% and 10%, with 17% due to reduced friction in approval processes.
4. There's a shift towards tech-driven fraud prevention, including advanced identity solutions.
The study recommends enhancing identity proofing, adopting a multi-layered approach, focusing on early-stage fraud detection, and sharing intelligence through consortiums to combat SMB lending fraud effectively.
LexisNexis Risk Solutions has been awarded the Best Cyber Security Provider at the Waters Rankings 2024 for its ThreatMetrix solution. This recognition highlights the company's dedication to providing top-tier fraud and identity solutions globally. The Waters Rankings, established by WatersTechnology, celebrate excellence in financial technology, particularly in protecting digital identities and fighting cyber threats.
LexisNexis ThreatMetrix offers a comprehensive suite of fraud prevention and identity verification tools, enabling businesses to manage risks effectively while maintaining smooth customer interactions. Kimberly Sutherland, VP of fraud and identity strategy, emphasized the company's commitment to innovation in addressing evolving cyber threats. LexisNexis Risk Solutions continues to develop solutions that support informed decision-making throughout the customer lifecycle, utilizing advanced analytics, linking capabilities, and industry expertise.
LexisNexis Risk Solutions has been recognized as a Category Leader in both Enterprise Fraud Solutions and Payment Fraud Solutions quadrants in the 2024 Chartis Enterprise and Payment Fraud Solutions Market Update and Vendor Landscape report. This prestigious recognition highlights the company's exceptional capabilities in providing innovative and effective solutions for fraud detection and prevention.
The Chartis report evaluates vendors based on their completeness of offering and market potential. LexisNexis Risk Solutions' achievement in both quadrants underscores its commitment to advancing fraud prevention strategies and delivering tailored solutions to address evolving challenges in the sector.
Chartis Research evaluated several LexisNexis Risk Solutions products, including the Dynamic Decision Platform, ThreatMetrix, BehavioSec, Emailage, Phone Intelligence, TrueID Document Authentication, and InstantID Q&A.
The LexisNexis® Insurance Demand Meter for Q2 2024 shows record growth in U.S. consumer auto insurance shopping and new policy volumes, both registering as 'Nuclear' for the first time in the same quarter. Key highlights include:
- 16.1% year-over-year shopping growth
- 19.5% increase in new policies
- Record 42.3% annual shop rate
- 21% of auto policies written in the last 12 months
- 38% growth in direct-to-consumer channels
Factors driving this growth include increasing auto and home insurance premiums, increased marketing by insurance companies, and consumers' heightened price sensitivity. The home insurance market's rate increases are also influencing auto insurance shopping patterns. Experts anticipate continued high shopping activity, despite potential impacts from the Summer Olympics and U.S. presidential election on advertising costs and effectiveness.
LexisNexis Risk Solutions has been recognized as a Strong Performer in The Forrester Wave™: Enterprise Fraud Management (EFM) Solutions, Q2 2024 report. The company's Dynamic Decision Platform received high scores across various categories, including a perfect 5 out of 5 in market presence.
Key highlights:
- Scored 3.3 in current offering and 3.5 in strategy
- Praised for innovation process and support strategy
- Noted as ideal for organizations transitioning from cyber channel fraud management to financial transaction monitoring
- Recognized for capable built-in machine learning models and customizable analyst investigation screens
The Forrester Wave™ report analyzes 12 top EFM providers, evaluating key differentiators such as built-in models and integration of identity verification, contextual authentication, and behavioral biometrics.
LexisNexis Risk Solutions has been ranked first and as an Established Leader in Juniper Research's Global Fraud Detection and Prevention in Banking Market Report. The report evaluates the top 15 vendors based on solution completeness, geographical reach, and future business prospects.
Key solutions assessed include:
- LexisNexis Emailage: A risk score based on email intelligence
- LexisNexis RiskNarrative: A unified platform for anti-money laundering, fraud, compliance, and risk management
- LexisNexis ThreatMetrix: A solution for implementing security-related friction in interactions
Kimberly Sutherland, VP of fraud and identity at LexisNexis Risk Solutions, emphasized the company's commitment to continuous innovation to combat sophisticated fraudsters in the financial sector.
LexisNexis Risk Solutions has been awarded the Silver Medal in the Datos Insights' 2024 Fraud Impact Awards for Best Digital Identity Verification solution. The company's ThreatMetrix product was recognized for its advanced capabilities in fraud detection and identity verification. Jim Mortensen, strategic advisor at Datos Insights, praised ThreatMetrix for its significant advancement in combating digital fraud, leveraging a global data network and advanced analytics. Kimberly Sutherland, vice president of fraud and identity at LexisNexis Risk Solutions, expressed pride in the recognition, emphasizing the company's commitment to innovation in fraud detection solutions.
LexisNexis Risk Solutions has released its 2024 Life Insurance Mortality Risk Management Study, revealing how combining medical and non-medical data can transform life insurance underwriting. The study analyzed data from 50 million individuals over five years, covering 1.7 billion medical claim lines.
Key findings include:
- 10% of applicants with type 2 diabetes and 60% with asthma have average or better-than-average mortality risk
- Integrating medical and non-medical data can reduce mortality slippage and improve decision-making
- This approach streamlines the underwriting process, reducing the need for invasive procedures
The study demonstrates that even within high-risk populations, there are segments suitable for accelerated underwriting, potentially improving the insurance application experience and reaching underserved populations.
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