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.
News and announcements related to RELX PLC (RELX) highlight the activities of its businesses in information-based analytics, decision tools and events. RELX is described as a global provider of information-based analytics and decision tools for professional and business customers, serving customers in more than 180 countries with offices in about 40 countries. Its shares are traded on the London, Amsterdam and New York stock exchanges.
A significant portion of recent news involves LexisNexis Risk Solutions, a RELX business. These updates cover topics such as fraud and identity management awards, insurance market research, home insurance trends, property claims analytics, medical data solutions for life insurance underwriting, and studies on fraud in public benefit programs. Such news offers insight into how data and analytics are being applied to risk management, insurance, government programs and other sectors.
Other RELX-related news items feature Brightmine, a global HR and data insights provider that is part of LexisNexis Risk Solutions, and RX, the events and exhibitions organizer within RELX. Brightmine releases research on workplace dynamics and HR policy challenges, while RX announces large-scale trade shows and exhibitions across multiple industries and geographies.
Investors and observers who follow RELX news can use this page to review updates on analytics products, research reports, industry studies, event announcements and corporate developments reported by RELX businesses. Regularly reviewing these items can help readers understand how RELX-related companies are applying data, analytics and technology in their respective markets.
Cirium has introduced the aviation industry's first Airline Routes tool, which utilizes satellite-based flight tracking data to analyze actual flights by aircraft type. This innovative tool allows businesses to assess aircraft demand and identify growth or reduction in airline networks. For instance, Indian low-cost carrier IndiGo operated 172 flights between Delhi and Kathmandu in January 2023, up from none in January 2022. The tool, part of Ascend Profiles, supports decision-making for 1,700 airlines by providing accurate insights into flight completion and network dynamics.
On March 9, 2023, LexisNexis Risk Solutions announced enhancements to its AI-driven property inspection tool, Flyreel. These upgrades aim to improve underwriting efficiency for U.S. property insurers facing rising loss ratios and workforce challenges. The no-code solution allows insurers to customize risk assessments based on their underwriting preferences, expediting the identification of critical property issues such as damage and safety concerns. Amid increasing home claim severity, which rose by 37% year-over-year, these enhancements are designed to equip insurers to better navigate market challenges, thereby improving operational effectiveness.
The LexisNexis Risk Solutions Insurance Demand Meter reported a 2.8% year-over-year growth in U.S. auto insurance shopping for Q4 2022, an increase from 1.2% in Q3. New policy growth surged by 10.2% compared to Q4 2021. This rise follows an average premium hike of over 9% in 2022, prompting increased shopping activity as consumers faced significant rate revisions since August 2022. Notably, the 55+ age group showed the highest increase in purchase rates. Forecasts suggest continued volatility in shopping rates for 2023 due to ongoing insurer rate revisions and tax-related impacts.
The LexisNexis Risk Solutions Insurance Demand Meter reported that U.S. auto insurance shopping grew by 2.8% in Q4 2022, up from 1.2% in Q3 2022. New policy growth surged 10.2% year-over-year, indicating a shift in consumer behavior due to rate increases averaging over 9% in 2022. Significant spikes in shopping occurred in November and December, driven by uneven rate revisions among insurers. The 55+ demographic exhibited the highest rate increases, as consumers sought more cost-effective policies. Moving into 2023, volatility in vehicle and insurance shopping rates is expected to continue, influenced by ongoing insurer rate revisions.
LexisNexis Risk Solutions released its True Impact of Failed Payments Report, revealing significant challenges in cross-border payment performance. Conducted with 400 payment executives globally, the report shows that over 70% are dissatisfied with their payment failure rates, costing an average of $12.10 per rejected payment. Common issues include incorrect bank beneficiary details, leading to increased workloads for staff. The report emphasizes the need for efficient Straight-Through Processing (STP) to enhance customer retention and reduce costs.
Key findings indicate that higher automation levels correlate to fewer customer losses due to payment issues.
LexisNexis Risk Solutions has released the Alternative Credit Data Impact Report, highlighting that nearly all surveyed financial institutions report a revenue increase of at least 15% due to alternative data usage. The report reveals that 84% of respondents utilize alternative credit data, particularly in assessing deep subprime and near-prime consumers. It emphasizes the need for financial inclusion, with 37% of leading adopters prioritizing this goal. Although larger banks are more satisfied with alternative data, challenges remain. The report aims to enhance credit risk assessments and improve customer experiences across the finance sector.
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Arkose Labs has appointed Frank Teruel as its new Chief Financial Officer (CFO), effective February 7, 2023. Teruel joins the Executive Leadership Team, reporting to CEO Kevin Gosschalk. With over 20 years in cybersecurity and identity, he previously served as CFO at Mitek Systems (NASDAQ: MITK) and played a key role in the $830 million sale of ThreatMetrix to RELX. Teruel is expected to enhance Arkose's financial processes, supporting its commitment to high growth and profitability. His industry expertise is viewed as a competitive advantage amidst growing cybersecurity threats.
On February 7, 2023, LexisNexis, part of RELX, announced a definitive agreement to acquire Aistemos Limited, enhancing their flagship PatentSight IP analytics solution. Cipher, Aistemos's classification platform, employs AI and machine learning to classify patents, providing strategic insights for IP decisions. The acquisition aims to integrate these capabilities into PatentSight, allowing for custom technology taxonomies. The transaction awaits customary regulatory approvals and is expected to finalize in Q1 2023. Financial details remain undisclosed.
LexisNexis Risk Solutions has been recognized in The Forrester Wave™: Identity Verification Solutions, Q4 2022, receiving top ratings in 17 evaluation criteria. The report assessed current offerings, strategy, and market presence. LexisNexis scored 5.0 in 10 out of 11 criteria in Current Offering and achieved top ratings in five Strategy categories. This recognition reflects the company's commitment to enhancing consumer trust through advanced fraud risk and identity verification tools. Recent acquisitions, including ThreatMetrix and BehavioSec, bolster its capabilities, providing impactful insights for companies combating fraud.