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 (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.
Access curated press releases and market-moving announcements including financial results, technology partnerships, and regulatory developments. Our collection spans RELX's innovations in data analytics, event organization, and sector-specific solutions that shape industries from healthcare to corporate compliance.
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.
Bookmark this page for streamlined tracking of RELX's market position through carefully vetted news sources. Return regularly to stay informed about developments affecting one of the world's most influential analytics providers.
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.
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.
