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RELX plc (RELX) is a global provider of information-based analytics and decision tools for professional and business sectors. This news hub offers investors and professionals timely updates on strategic developments across its scientific, legal, and risk management divisions.
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Key updates cover acquisition activity, product launches, and leadership changes impacting the company's global operations. Monitor evolving trends in information services through verified reports on RELX's expansion in digital solutions and risk assessment technologies.
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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.
LexisNexis Risk Solutions has improved its position in the 2022 Chartis Research RiskTech100, ranking 11th, up six places from the previous year. The company has also won the category for Financial Crime - Data for the fourth consecutive year, underscoring its ongoing commitment to innovation. Notable developments include a merger with Accuity and an acquisition of TruNarrative, both enhancing its risk and compliance solutions. The introduction of the Financial Crime Digital Intelligence solution further strengthens its offerings to meet the evolving demands of financial crime compliance.
The LexisNexis Risk Solutions Insurance Demand Meter report reveals a -3.9% decline in the annual U.S. auto insurance shopping growth rate for Q3 2021, with new policy growth at a two-year low of -7.3%. This downturn follows a downward trend from earlier in the year, driven by macroeconomic factors including global microchip shortages affecting car inventory and rising used car costs. The report indicates that more consumers are staying with their current carriers, influenced by rate increases and the lifting of state moratoria on policy cancellations.
Karlsgate has partnered with LexisNexis Risk Solutions to develop a secure identity resolution platform for the healthcare sector. This collaboration aims to enhance data sharing capabilities while ensuring patient identity protection, an essential factor due to HIPAA regulations. The zero-trust environment will ease the burdens of custom data integrations for healthcare providers. Both companies emphasize the significance of secure and efficient data handling to improve health outcomes.
LexisNexis Risk Solutions has integrated Mitsubishi Motors North America's telematics data from the Mitsubishi Road Assist+ app into its Telematics OnDemand solution. This integration allows U.S. auto insurers to access driving behavior insights, enabling personalized insurance pricing at the point of quote. Mitsubishi vehicle owners who opt to share their data could receive immediate discounts on their premiums. This collaboration aims to enhance risk assessment for insurers and improve the overall customer experience for Mitsubishi drivers.
Cirium, an aviation analytics company, has launched its Global Aircraft Emissions Monitor, which offers precise measurements of CO2 emissions and fuel consumption for flights worldwide. The tool tracks that fuel burn in 2021 has decreased by 40% compared to 2019 due to a 29% reduction in flights. Despite recovery in air travel, a forecast suggests that by 2039, fuel burn could reach 485 million tons, translating to 1,530 million tons of CO2 emissions. The Monitor's unique data sources enhance its accuracy, achieving 1% validation in tests.
LexisNexis Risk Solutions released a study analyzing the impact of Advanced Driver Assistance Systems (ADAS) on U.S. auto insurance claims. Contrary to industry belief, the study found minimal changes in claim severity but significant reductions in claim frequency for vehicles equipped with ADAS. Key findings include a 23% reduction in Bodily Injury loss cost, 14% reduction in Property Damage loss cost, and 8% reduction in Collision claim loss cost. This data provides insurers the opportunity to offer discounts based on vehicle safety features, thus aligning with consumer expectations for lower insurance rates.
The Health Care business of LexisNexis Risk Solutions has launched the LexisNexis Patient Centric Token, an innovative data de-identification technology designed to enhance patient data matching for clinical use cases. This patent-pending solution leverages a comprehensive patient referential database to solve issues of fragmented data due to changes in personal identifiers. By allowing healthcare organizations to securely connect data sets at the patient level without revealing identities, the token facilitates improved clinical research and patient care while complying with data privacy regulations.
