RELX PLC - RELX STOCK NEWS

LexisNexis Risk Solutions published its sixth annual Home Trends Report, highlighting that extreme weather events have led to significant increases in weather-related loss costs for homeowners and insurers in the U.S. Catastrophic weather drove 39% of claims in 2020, marking the highest level in six years. Overall loss costs rose by 6% year-over-year, presenting challenges for carriers in pricing policies profitably. The report emphasizes the need for insurers to utilize the latest peril-related trend data to enhance underwriting decisions.

LexisNexis Risk Solutions has launched its Healthcare Identity Management platform on the Epic App Orchard, allowing health systems using Epic's EHR to enhance patient onboarding. This innovative platform offers real-time identity verification, ensuring secure access to patient accounts while supporting Spanish-speaking patients. It leverages extensive data sources to verify identities, ensuring unmatched authentication and fraud prevention. With Epic managing records for over 250 million patients, this integration is poised to improve identity management across hundreds of healthcare organizations in the U.S.

ComplySci, a regulatory technology provider, has initiated its M&A growth strategy by acquiring National Regulatory Services (NRS), enhancing its compliance offerings for financial services. This strategic acquisition combines ComplySci's technology with NRS's expertise, growing their market presence. The transaction follows a $120 million investment from K1 Investment Management. NRS will operate as 'NRS, a ComplySci Company,' under President John Gebauer, aiming to deliver an integrated compliance solution. This move is expected to position ComplySci for significant growth and increased industry recognition.

RELX reports a 6% underlying revenue growth in the first nine months of 2021. The company anticipates full year growth rates to exceed historical trends based on improved performance across divisions. Key highlights include a 10% increase in Risk segment revenue, driven by fraud prevention demand and new insurance sales. Scientific and Technical divisions grew 4%, while Legal saw a 3% growth. Exhibitions segment revenue increased by 9%, aided by venue reopenings. Market capitalization stands around £43bn.

On October 12, 2021, LexisNexis Risk Solutions announced it received four prestigious awards recognizing its leadership in fraud prevention, identity authentication, and cybersecurity. The accolades include:

• CyberSecurity Breakthrough Awards - Overall Cybersecurity Company of the Year
• Global Banking & Finance Awards - Decade of Excellence Anti-Fraud/Security Solution
• Juniper Research Future Digital Awards - Gold Winner for AI in Fraud Prevention Innovation
• Pan Finance Awards - Best Financial Services Cybersecurity Solutions

These recognitions highlight the company's commitment to adapting to evolving digital fraud challenges.

LexisNexis Risk Solutions has released its annual True Cost of Financial Crime Compliance Study for the U.S. and Canada, revealing that compliance costs have surged to approximately $49.9 billion in 2021, a 19% increase from 2020. Large U.S. financial institutions face an average compliance cost of $27.8 million, up 36% from the previous year, while Canadian firms see an average of $22.9 million. The study highlights ongoing challenges due to the pandemic, including longer onboarding times and rising operational costs as institutions adapt to evolving criminal threats.

A recent study by Aite-Novarica Group and presented by LexisNexis Risk Solutions highlights a significant rise in digital activity among insurance carriers due to the pandemic, with 77% in underwriting and 76% in claims. However, 67% of carriers report an increase in identity fraud linked to this digital surge. The report recommends that insurance companies adopt a multi-layered fraud mitigation strategy to enhance customer protection and improve the overall experience for genuine consumers.