Welcome to our dedicated page for RELX PLC news (Ticker: RELX), a resource for investors and traders seeking the latest updates and insights on RELX PLC stock.
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.
Kia America has partnered with LexisNexis Risk Solutions to provide vehicle build data aimed at helping U.S. customers with advanced driver assistance systems (ADAS) use this data for auto insurance purposes. The LexisNexis Vehicle Build will assist insurers in evaluating ADAS features, potentially leading to lower premiums for Kia owners and reducing overall vehicle ownership costs. ADAS-equipped vehicles have shown promising statistics, including a 27% reduction in bodily injury claim frequency, according to LexisNexis analysis.
LexisNexis Risk Solutions and Ford Motor Company announced a strategic agreement to provide U.S. auto insurers access to Ford connected vehicle data. This initiative aims to enhance usage-based insurance (UBI) programs for Ford and Lincoln drivers of eligible 2020 models, potentially lowering their insurance costs through personalized offerings. The partnership allows insurers to better segment risk using driving behavior insights gleaned from the LexisNexis Telematics Exchange, benefiting consumers seeking cost savings in vehicle ownership.
LexisNexis Risk Solutions has announced the promotion of Jeff Diamond to President and General Manager of its Health Care business. With over 12 years at the company, Diamond previously served as Senior Vice President of Commercial Operations. His extensive experience covers sales, marketing, product management, and analytics. CEO Josh Schoeller praised Diamond's leadership as pivotal to the company's success. Diamond expressed enthusiasm for leading the healthcare vertical and enhancing the company's offerings to better serve customers using advanced healthcare data and analytics.
The LexisNexis Risk Solutions Insurance Demand Meter reveals a significant rise in the U.S. auto insurance shopping rate, reaching 41.6% in Q2 2021, up 1.1% year-over-year. New policy growth surged 8%, with notable increases from younger demographics returning to shopping patterns. Despite challenges from microchip shortages and labor issues, shopping volumes remain unexpectedly strong. The impact of COVID-related stimulus checks has significantly influenced new business volumes, leading to an overall 32.3% growth in April 2021.
XpertHR, part of RELX, has acquired Gapsquare, a provider of advanced people analytics software focused on pay disparity and pay equity. The acquisition aims to enhance XpertHR's offerings in the UK and US, leveraging Gapsquare's technology to better address pay equity challenges faced by organizations. Gapsquare's flagship software, FairPay® Pro, provides actionable insights into existing pay gaps, identifying demographic variables and proposing remedial actions. Both companies aim to foster inclusive workplaces and improve employee compensation transparency.
LexisNexis Risk Solutions has received approval from the Kantara Initiative for its Risk Defense Platform (RDP) as a Component Service under NIST SP 800-63 rev.3 at Identity Assurance Level 2 (IAL2). This certification validates RDP's capabilities in fraud prevention and identity verification, crucial for government and private sectors. RDP offers a single integration point for client credential service providers and includes features like document authentication and phone verification, enhancing security against online fraud.
LexisNexis Risk Solutions has launched the Fraud Intelligence Synthetic Score, a tool aimed at identifying and mitigating synthetic identity fraud. This innovative product generates a risk score from 001 to 998 by analyzing various identity characteristics and patterns linked to fraud.
With synthetic identity fraud estimated to cost the U.S. up to $2.04 billion in 2021 and projected to reach $2.42 billion by 2023, the need for effective fraud detection solutions is critical. LexisNexis aims to enhance businesses' operational strategies to combat escalating fraud risks.
LexisNexis Risk Solutions launched the Risk Classifier with Medical Data, a pioneering predictive mortality model for life insurers. This model integrates up to six data sources, including behavioral and medical data, enabling more precise risk ratings and competitive policy pricing. Developed in partnership with ExamOne, it streamlines the underwriting process by reducing the need for paramedical exams. The model offers a significant 13x risk separation between classifications, enhancing the speed and accessibility of life insurance for consumers.
LexisNexis Risk Solutions has secured a $1.2 billion Blanket Purchase Agreement from the United States Department of Labor (DOL) to provide digital identity verification for state unemployment insurance programs. This five-year contract continues the company’s longstanding partnerships with federal and state agencies, targeting fraud in unemployment benefits exacerbated by the pandemic. LexisNexis aims to combat fraud, ensure timely benefits, and improve access through its advanced identity verification solutions.
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