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.
LexisNexis Risk Solutions released its 2020 True Cost of Financial Crime Compliance Study, revealing a sharp rise in compliance costs, projected at $42 billion across U.S. and Canadian financial institutions, a 33% increase from $31.5 billion in 2019. The COVID-19 pandemic has exacerbated compliance challenges, driving up costs by an average of 23% due to remote work and increased manual processes. However, firms investing in technology solutions see reduced cost increases and enhanced efficiencies. The study surveyed 150 decision-makers overseeing compliance processes.
The Health Care business of LexisNexis Risk Solutions has announced key leadership changes with the appointment of Dave Corbett as head of Sales and Client Engagement and the promotion of Jeff Diamond to senior vice president of Commercial Operations. Corbett brings extensive experience from his previous role at Optum/United Health Group, while Diamond has been with the company for over 12 years. These changes aim to enhance sales growth and operational efficiency, positioning the company to deliver greater value and innovation in health care data and analytics.
On October 20, 2020, LexisNexis Risk Solutions released its 2020 Home Trends Report, revealing a significant decrease in U.S. home insurance catastrophe claims and loss costs in 2019. Catastrophe claims fell by 32% and all-peril loss costs dropped by 13%, with 90% of losses attributed to hail and wind. Notably, Texas reported the highest distribution of claims. Despite these positive trends, the report warns that 2020 may be less favorable due to increased wildfire and hurricane activities. The report emphasizes the need for precise data to improve risk assessment and underwriting decisions.
LexisNexis Coplogic Solutions has launched Coplogic Ethos, a cloud-based platform designed to streamline crash and citation reporting for law enforcement agencies. This platform enables agencies to eliminate manual processes, allowing for quicker responses to evolving demands. Coplogic Ethos offers a low-code/no-code interface, empowering users to create forms easily. The initial rollout will cover eight states, starting with Colorado and New Mexico. This innovation aims to enhance efficiency, reduce errors, and promote community engagement.
Michael Breslin, Strategic Client Relations Director at LexisNexis Risk Solutions, has been appointed to the U.S. Secret Service's newly formed Cyber Investigations Advisory Board (CIAB). This board will support the agency's investigations team by providing strategic insights into cybercrime trends and investigative techniques. Breslin brings 23 years of federal law enforcement experience, particularly in cyber and financial crime. This collaboration aims to bolster defenses against increasing COVID-19 related identity thefts and fraud schemes.
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LexisNexis Risk Solutions and ExamOne have formed a strategic partnership to enhance life insurance underwriting through a next-generation mortality model. This collaboration enables insurers to swiftly process applications, combining data from LexisNexis' Risk Classifier with ExamOne's laboratory and prescription history data. By integrating these datasets, insurers can efficiently evaluate risk, reduce expenses, and expedite the issuance of policies while adhering to legal and regulatory standards. This innovation aims to meet growing consumer demands for faster application processes.
LexisNexis Risk Solutions announced the launch of the LexisNexis ID Compass Platform, a multi-layered identity access management (IAM) solution aimed at assisting insurance carriers in mitigating identity risks. The platform integrates physical and digital intelligence to enhance consumer experience while reducing fraud. It utilizes proprietary linking technology to manage information for over 282 million U.S. identities and analyzes transactions in near real-time. This suite of IAM solutions empowers insurers to secure online interactions without compromising customer experience.
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