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 provides information-based analytics and decision tools for professional and business customers across risk, scientific and medical research, legal, and events markets. Company news often centers on LexisNexis Risk Solutions, including fraud and identity analytics, insurance underwriting data, electronic health record access, provider data management, and reports based on digital transaction and industry survey data.
RELX updates also cover RX trade exhibitions, such as packaging industry events, and the company’s use of data sets, advanced analytics platforms, and AI-enabled tools in customer workflows. Recurring themes include partnerships, product integrations, cybercrime and fraud trend research, healthcare identity verification, and commercial insurance risk selection.
LexisNexis Risk Solutions has released its ninth annual U.S. Home Trends Report, providing insights into the home insurance industry. Key findings include:
- All Peril loss cost and frequency increased by 4.1% and 11% respectively from 2022 to 2023, and by 52% and 16.9% since 2019.
- Catastrophe claims represented 46% of all claims in 2023, the highest in seven years.
- Hail loss cost increased 57.9% since 2022, with frequency up 53.6% and severity rising 2.8%.
- States with the highest impact of hail-related perils include Colorado, Nebraska, and Wyoming.
- Loss costs for Fire and Lightning (-11.1%) and Weather-Related Water (-51.4%) declined from 2022-2023.
The report highlights the impact of severe storms and historic-level weather disasters on rising insurance premiums, emphasizing the need for insurers to understand by-peril trends and maintain extensive data to remain competitive in a volatile market.
LexisNexis Risk Solutions has launched LexisNexis® Life Smart Path, a scalable evidence-ordering solution for U.S. life insurers. This new tool aims to improve the life insurance application process by:
- Providing data and analytics insights earlier in the application and underwriting processes
- Simplifying data acquisition and solving workflow inefficiencies
- Combating application misrepresentation and fraud
- Enabling more timely decisions and complete risk assessments
The solution integrates critical datasets into insurers' workflows, allowing for quicker identity confirmation, verification of application answers, and screening for misrepresentation. It also offers advanced triage and reflexive questioning capabilities to segment mortality risk more accurately.
LexisNexis Risk Solutions has released its U.S. Home Insurance Consumer Insights report, revealing key findings about homeowner insurance preferences and behaviors. The study identifies two distinct policyholder groups: 'Set It & Forget It' (47%) and 'Insurance Involved' (37%). Key takeaways include:
- 72% of homeowners are willing to pay higher premiums for full coverage
- 70% rely on carriers or agents for coverage guidance
- 61% believe consumer-led mobile inspections are fair for determining rates
- 59% are highly concerned about using their home insurance
- Only 51% know their policy details, suggesting potential underinsurance
The report highlights opportunities for insurers to leverage emerging technologies like consumer-led mobile inspections to bridge knowledge gaps, improve risk assessments, and enhance customer engagement while addressing profitability challenges.
The WEPACK & SANSIN Vietnam Banquet, jointly organized by RX and Sansin International Holding Group, successfully concluded in Ho Chi Minh City on September 19, 2024. The event brought together over 200 paper packaging industry leaders, experts, and enterprise representatives from Vietnam and beyond.
Key highlights include:
- Vietnam's packaging market scale is expected to reach $6.5 billion by 2024
- The Vietnamese packaging industry is growing at an average annual rate of 15%
- Future demand for Vietnam's paper packaging market is projected to grow at 14-18% annually over the next 5-10 years
- The event featured discussions on industry trends, technological innovations, and sustainable development
- Participants were invited to attend WEPACK ASEAN 2024 in Malaysia and WEPACK 2025 in Shanghai
LexisNexis Risk Solutions has announced a strategic alliance with Radar, a leader in geofencing technology, to develop compliance solutions for the gaming and gambling industry. This collaboration aims to ensure that devices used for online gambling in the United States comply with state regulations. The alliance comes as the sector experiences record-breaking revenue of over $66 billion annually, a 10.3% year-over-year increase.
The partnership will integrate Radar's geofencing capabilities with LexisNexis Risk Solutions' data and technology to create tools that verify devices are within appropriate legal jurisdictions. This solution addresses the complex regulatory landscape, with 38 US states plus DC having legalized mobile gambling. The collaboration will enable operators to manage the entire customer lifecycle, including KYC, fraud prevention, and compliance, in a seamless manner.
The FILM & TAPE EXPO 2024, Asia's leading B2B tradeshow for functional film and adhesive tapes, is set for November 6-8 at the SHENZHEN World Exhibition Center. Organized by RX Kuozhan, the event will cover 160,000 sqm, featuring over 3,500 suppliers and expecting 150,000+ industry professionals. Pre-registration is now open, offering free entry (saving $15).
The expo introduces five new features: Scale Upgrade with six connected shows, Exhibits Upgrade showcasing 5,000+ materials, Exhibition Zone Upgrade with five specialized areas, Activity Upgrade offering 20+ technical seminars, and Visitors Privilege Upgrade including VIP benefits. International visitors can join the 'Million Subsidy Autumn Procurement Benefits' plan for additional perks.
LexisNexis Risk Solutions' latest study reveals a significant increase in small and medium-sized business (SMB) lending fraud, with over 80% of respondents reporting a nearly 14% rise over the past year. Key findings include:
1. Stolen legitimate business and consumer/owner identities are the most common fraud types.
2. 70% of organizations have adjusted their fraud detection strategies.
3. Companies anticipate overall losses between 6% and 10%, with 17% due to reduced friction in approval processes.
4. There's a shift towards tech-driven fraud prevention, including advanced identity solutions.
The study recommends enhancing identity proofing, adopting a multi-layered approach, focusing on early-stage fraud detection, and sharing intelligence through consortiums to combat SMB lending fraud effectively.
LexisNexis Risk Solutions has been awarded the Best Cyber Security Provider at the Waters Rankings 2024 for its ThreatMetrix solution. This recognition highlights the company's dedication to providing top-tier fraud and identity solutions globally. The Waters Rankings, established by WatersTechnology, celebrate excellence in financial technology, particularly in protecting digital identities and fighting cyber threats.
LexisNexis ThreatMetrix offers a comprehensive suite of fraud prevention and identity verification tools, enabling businesses to manage risks effectively while maintaining smooth customer interactions. Kimberly Sutherland, VP of fraud and identity strategy, emphasized the company's commitment to innovation in addressing evolving cyber threats. LexisNexis Risk Solutions continues to develop solutions that support informed decision-making throughout the customer lifecycle, utilizing advanced analytics, linking capabilities, and industry expertise.
LexisNexis Risk Solutions has been recognized as a Category Leader in both Enterprise Fraud Solutions and Payment Fraud Solutions quadrants in the 2024 Chartis Enterprise and Payment Fraud Solutions Market Update and Vendor Landscape report. This prestigious recognition highlights the company's exceptional capabilities in providing innovative and effective solutions for fraud detection and prevention.
The Chartis report evaluates vendors based on their completeness of offering and market potential. LexisNexis Risk Solutions' achievement in both quadrants underscores its commitment to advancing fraud prevention strategies and delivering tailored solutions to address evolving challenges in the sector.
Chartis Research evaluated several LexisNexis Risk Solutions products, including the Dynamic Decision Platform, ThreatMetrix, BehavioSec, Emailage, Phone Intelligence, TrueID Document Authentication, and InstantID Q&A.
The LexisNexis® Insurance Demand Meter for Q2 2024 shows record growth in U.S. consumer auto insurance shopping and new policy volumes, both registering as 'Nuclear' for the first time in the same quarter. Key highlights include:
- 16.1% year-over-year shopping growth
- 19.5% increase in new policies
- Record 42.3% annual shop rate
- 21% of auto policies written in the last 12 months
- 38% growth in direct-to-consumer channels
Factors driving this growth include increasing auto and home insurance premiums, increased marketing by insurance companies, and consumers' heightened price sensitivity. The home insurance market's rate increases are also influencing auto insurance shopping patterns. Experts anticipate continued high shopping activity, despite potential impacts from the Summer Olympics and U.S. presidential election on advertising costs and effectiveness.