Relx Plc Stock Price, News & Analysis

LexisNexis Risk Solutions reports that U.S. automotive brand loyalty increased to 52.6% in 2024, approaching the pre-pandemic benchmark of 54.2% from 2019. The study reveals significant shifts in consumer preferences regarding engine types.

Among 47 analyzed brands, 11 exceeded the industry average in brand loyalty, improving from nine brands in 2023. The research shows a notable transition in powertrain preferences, with internal combustion engine (ICE) loyalty dropping from 97.6% in 2019 to 85.2% in 2024. Electric vehicle loyalty experienced a slight decline from 77.7% in 2023 to 74.7% in 2024, while hybrid vehicle replacements increased by 5 percentage points to 52% in 2024.

The improved brand loyalty rates are attributed to increased inventory availability on dealer lots, offering consumers more choices compared to 2023's supply. However, vehicle affordability remains a challenge as automakers navigate rising inventories and evolving consumer preferences in the post-pandemic market.

LexisNexis Risk Solutions, part of RELX, has announced plans to acquire IDVerse, an AI-powered document authentication and fraud detection solutions provider. IDVerse's technology, launched in 2018, can verify over 16,000 types of identity documents globally and uses deep neural networks to combat fraud and deepfakes.

The acquisition will integrate IDVerse's capabilities across LexisNexis' platform, enhancing their document authentication solutions with advanced AI-powered technology. The combined solution will focus on improving fraud detection, global document authentication, and consumer protection. The transaction is expected to close in early 2025, subject to regulatory approvals.

LexisNexis Risk Solutions reports unprecedented levels of auto insurance shopping and new policy volumes in Q3 2024. Auto insurance shopping grew 31.2% year-over-year, while new policy volumes increased by 25.9%. The direct channel saw remarkable growth with 67% in shopping rates and 54% in new policies. Notable activity was observed in states like Florida (38%), Texas (33%), and Michigan (19%). Hurricane Helene temporarily impacted shopping in Florida and Georgia, though both states recovered quickly. The surge was driven by insurer-led marketing programs and rate adjustments, with 45% of U.S. policies being shopped within the past 12 months.

LexisNexis Risk Solutions reveals that banks and online retailers can significantly improve fraud detection through shared intelligence networks. A US bank improved high-risk event detection by 1700% by combining email risk with digital identity signals, while a top US card issuer enhanced detection by 23x using multiple data points. Currently, only 27% of financial services and retailers in EMEA use fraud insight exchange initiatives. Metro Bank uncovered £2.5 million in fraudulent payments within six months, achieving a 105% improvement using collaborative risk insights.

LexisNexis VitalChek Network's Permit Wizard is sponsoring the 2024 U.S. Capitol Christmas Tree journey from Alaska to Washington, D.C. The eighty-foot-tall Sitka spruce from the Tongass National Forest will be delivered to the U.S. Capitol on November 22nd. Permit Wizard is providing expert permitting services for the oversized load's transportation across multiple states, ensuring compliance with state-specific regulations. The tree will feature handmade ornaments by Alaskans and will be lit in early December, following this year's theme 'Where Nature, People, and Tradition Come Together.'

LexisNexis Risk Solutions has achieved Category Leader status in both Know Your Customer (KYC) Solutions and KYC Data Solutions quadrants in the Chartis Research 2024 report, advancing from its previous Best of Breed position. The company earned a unique five-star rating for its digital ID capabilities, distinguishing itself as the only vendor to receive this recognition. This achievement reflects the company's focus on customer-centric solutions and its continued expansion through enhanced market intelligence, trade data integrations, and strategic partnerships with corporate data providers.

LexisNexis Risk Solutions released its Global Consumer Lending Confidence Report, revealing that 40% of financial institutions reported increased delinquencies in the past year. The study shows that 97% of lenders identify collecting delinquent loans as their primary challenge, while 78% cite issues with visibility into negative payment history. To address these challenges, 66% of respondents are considering expanding the use of alternative credit data. The study, conducted across nine countries with 434 financial institution employees, found that 86% of global lenders feel more confident using alternative credit data compared to traditional methods.

LexisNexis Risk Solutions released new insights on breast and colon cancer screening trends from 2021-2023. Mammogram screenings increased significantly, with a 10.3% rise among people in their 40s and a 12.5% increase for those in their 30s. Breast cancer diagnoses showed notable increases, particularly among people in their 30s (4% increase) and over 70 (5.7% increase).

Following USPSTF's updated guidelines lowering the recommended age for colon cancer screenings to 45, colonoscopies in the 45-50 age group surged by 90%. While at-home screening tests generally decreased, their utilization among people in their 40s increased significantly, with DNA-based tests up 30.5% and FIT up 19.7%.

LexisNexis Risk Solutions released its third annual True Cost of Fraud Study for SNAP Agencies and Integrated Eligibility Systems (IES). The study reveals that every $1 of fraud now costs agencies $3.93, with agencies impacted by EBT skimming and account takeovers losing an average of $4.48 per $1 lost. Key findings include:

1. Rising fraud costs, particularly through EBT skimming and account takeovers
2. Increased fraud risks due to IES expansion across Human Services programs
3. Application processing delays impacting staff and beneficiaries
4. Underutilization of fraud detection solutions at the application stage

The study emphasizes the need for agencies to adopt a proactive approach, integrating modernization efforts with early fraud detection to lower costs, reduce errors, and improve service delivery.