LexisNexis Risk Solutions Overview and Market Analysis

LexisNexis Risk Solutions is a leading provider of data analytics and risk assessment tools. It was founded in 2005.

The company offers a range of products and services that help organizations make informed decisions about risk and compliance. These include identity and fraud detection, anti-money laundering, and credit risk assessment.

LexisNexis Risk Solutions has a strong presence in the market, with a global footprint and a wide range of customers across various industries. Its data and analytics solutions are used by organizations to mitigate risk and improve business outcomes.

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LexisNexis Risk Solutions has been actively expanding its capabilities through strategic acquisitions. In 2014, the company acquired Coplogic, a provider of citizen self-reporting software solutions to law enforcement agencies.

This acquisition added a citizen incident reporting capability to the LexisNexis eCrash solution. LexisNexis Risk Solutions has continued to grow its offerings through subsequent acquisitions.

In 2016, LexisNexis Risk Solutions acquired Appriss, a public safety business that provides technology solutions for the efficient collection of crash reports and electronic citations. The acquired technology was integrated into the LexisNexis Coplogic Solutions portfolio, enhancing its capabilities to provide a comprehensive electronic crash and incident reporting suite.

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In February 2018, RELX purchased ThreatMetrix, a digital identity and risk-based authenticator platform.

ThreatMetrix was acquired by RELX, a significant move in the world of digital identity.

The acquisition added a new layer of security to RELX's offerings, enhancing their ability to authenticate users and prevent online threats.

RELX's purchase of ThreatMetrix marked a strategic expansion of their digital security capabilities.

In August 2016, LexisNexis Risk Solutions acquired Appriss, a public safety business that provides technology solutions for the efficient collection of crash reports and electronic citations.

LexisNexis utilized the acquired technology within its LexisNexis Coplogic Solutions portfolio, a comprehensive electronic crash and incident reporting suite.

The acquired technology enhanced LexisNexis's capabilities to provide a more complete solution to the law enforcement community.

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LexisNexis Risk Solutions has a strong industry focus, operating in four key market segments. These segments are the backbone of the company's success.

The company's Insurance Services segment is a significant part of its business, providing critical data and analytics to the insurance industry.

In addition to Insurance Services, LexisNexis Risk Solutions also operates in Business Services, Health Care Services, and Government Services. These segments are all crucial to the company's overall mission of providing risk management solutions.

Here are the four market segments in which LexisNexis Risk Solutions operates:

Preventing food stamp fraud is crucial to ensure that benefits reach those who truly need them. The Florida Department of Children and Families used LexisNexis Risk Solutions for identity management solutions to prevent food stamp fraud.

This approach has been highly effective, achieving a total cost avoidance of more than $843.7 million since 2013.

By implementing such measures, organizations can significantly reduce the risk of food stamp fraud and allocate resources more efficiently.

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Aviation Liability Law is a complex and multifaceted field that affects airlines, air traffic control providers, governments, manufacturers, and individuals alike.

Aviation liability law covers a wide range of issues, from accidents to personal property damages to liability for death and personal injury, and loss, damage and delay of freight.

Accidents are a major concern in aviation liability law, and can result in significant financial losses for airlines and other parties involved.

The Aviation Liability Law, 3rd Edition book assesses the liability of airlines, air traffic control providers, governments, manufacturers, and more in the event of an accident.

This book provides a comprehensive guide to understanding the complexities of aviation liability law and how it affects different stakeholders.

Aviation liability law also involves liability for personal property damages, which can occur due to various reasons such as baggage loss or damage.

The law requires airlines to take responsibility for damages to personal property, and compensation may be provided to affected individuals.

Liability for death and personal injury is another critical aspect of aviation liability law, with airlines and other parties facing significant financial and reputational risks.

The law sets out specific guidelines for determining liability in such cases, and requires airlines to provide adequate compensation to affected individuals and families.

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The digital identity market is growing rapidly due to advances in biometric authentication, which have improved accuracy and speed, making identity verification more secure across diverse applications.

API-first SaaS platforms have gained popularity, offering scalability and real-time compliance integrations that enable enterprises to embed identity services seamlessly into customer journeys.

The rise of cloud deployment has contributed to flexibility and cost efficiency, allowing enterprises to integrate identity services across digital channels.

Industries like BFSI, e-commerce, and telecom are driving demand for fraud prevention and access management solutions.

Expansion of automated fraud detection and cross-border compliance requirements have fueled market growth.

Innovations in biometric modalities, behavioral analytics, and wallet issuance are opening new application areas for digital identity services.

The growth of the digital identity market is being led by identity verification & KYC/AML services, API-first SaaS delivery models, and cloud deployments due to their precision, adaptability, and scalability.

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LexisNexis Risk Solutions has a strong presence in the global market, with operations in over 180 countries. They have a large team of experts who work together to provide innovative solutions to their clients.

Their leadership team has extensive experience in the industry, with many having held senior positions at other leading companies. This experience enables them to make informed decisions that drive the company's success.

LexisNexis Risk Solutions has a strong focus on innovation, with a significant portion of their budget allocated to research and development. This has led to the development of cutting-edge solutions that help their clients mitigate risk and stay ahead of the competition.

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Bill Madison is the CEO of Insurance Solutions at LexisNexis Risk Solutions. He's the one in charge of leading the team that develops innovative solutions for the insurance industry.

LexisNexis Risk Solutions is a well-established company with a strong presence in the market.

5,891 people are employed at LexisNexis Risk Solutions.

This number highlights the company's significant presence in the industry.

LexisNexis Risk Solutions has made significant strides in the industry, and it's exciting to share some of the latest news and updates.

LexisNexis Risk Solutions has been recognized as a leader in the risk management and identity verification space, with its solutions being used by over 80% of the top 100 US banks.

The company has also expanded its presence globally, with operations in over 100 countries and a workforce of over 10,000 employees.

LexisNexis Risk Solutions created a free COVID-19 tracking tool in April 2020 to monitor and report the progress of the virus globally. This tool uses data from Johns Hopkins University, the US Census Bureau, and the UN DESA to provide metrics and analysis for locations across the globe.

The tool's maps drill down to country and regional levels, helping to understand how the virus is propagating. The data is updated regularly to provide a better understanding of the pandemic's evolution.

In July 2020, researchers from Florida Atlantic University's College of Engineering and Computer Science collaborated with LexisNexis Risk Solutions to develop a model of COVID-19 spread using big data analytics techniques and tools. This project leverages prior experience in modeling Ebola spread to successfully model the spread of COVID-19.

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The COVID-19 Data Resource Center, launched in April 2020, provides county-level insights on at-risk populations and potential care capacity gaps to support the US healthcare industry's response to the pandemic. This resource features heat maps with insights that identify at-risk populations and correlated gaps in provider coverage.

Each county is assigned a percentile rank on a scale of 0 (low-risk) to 100 (high-risk) across various parameters. The map is updated regularly to quickly address the care needs of the community.

Here is a list of the key features of the COVID-19 Data Resource Center:

In June 2020, the group added national telehealth trending insights to its COVID-19 Data Resource Center to show exponential growth of telehealth adoption resulting from the COVID-19 pandemic.

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Recently, researchers have made significant progress in understanding the effects of climate change on our planet. Rising global temperatures have led to more frequent and severe heatwaves.

According to recent studies, the Arctic ice cap has lost about 75% of its thickness since the 1980s. This has serious implications for global weather patterns and sea levels.

The good news is that many countries are taking action to reduce their carbon footprint. For example, some governments are investing heavily in renewable energy sources like solar and wind power.

In the past decade, the cost of solar panels has decreased by over 70%, making them a more viable option for households and businesses. This trend is expected to continue as technology improves.

The transition to renewable energy sources is not without its challenges, however. Infrastructure and energy storage systems need to be upgraded to support the increased demand for clean energy.

Curious to learn more? Check out: Innergex Renewable Energy

The digital identity services market is growing rapidly, driven by advances in biometric authentication, API-first SaaS platforms, and cloud deployment. This has enabled enterprises to embed identity services seamlessly into customer journeys, improving accuracy and speed.

The market is expected to reach USD 28,504.4 million, with identity verification & KYC/AML services leading the segment growth due to their precision, adaptability, and scalability. Industries such as BFSI, e-commerce, and telecom are driving demand for fraud prevention and access management solutions.

The growth is also fueled by regulatory compliance and KYC/AML mandates, which are driving the adoption of identity services across various industries. The market is expected to expand across diverse applications, including BFSI, e-commerce, and government services.

Here are some key statistics that illustrate the market growth:

The market for digital identity services is diverse and complex, with various segments contributing to its growth. The market is segmented into four main categories: Insurance Services, Business Services, Health Care Services, and Government Services.

LexisNexis Risk Solutions operates in these four market segments.

The market is further segmented by service type, with identity verification & KYC/AML being the dominant segment, projected to contribute 35.7% of the market revenue in 2025.

Here are the main service types in the market:

The identity verification & KYC/AML segment is driven by increasing regulatory mandates across BFSI, government services, and e-commerce sectors, where compliance with AML and fraud prevention remains critical. Organizations continue to prioritize KYC processes to mitigate risk, meet evolving compliance requirements, and secure digital onboarding.

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LexisNexis Risk Solutions created a free COVID-19 tracking tool in April 2020 to monitor the pandemic's progress. This tool uses data from Johns Hopkins University, the US Census Bureau, and the UN DESA to provide metrics and analysis for locations worldwide.

The tracker provides maps that drill down to country and regional levels, helping to understand how the virus is spreading. This level of detail is crucial for public health officials and researchers to make informed decisions.

In July 2020, researchers from Florida Atlantic University's College of Engineering and Computer Science collaborated with LexisNexis Risk Solutions to develop a model of COVID-19 spread using big data analytics techniques. This model leverages prior experience in modeling Ebola spread to successfully model the spread of COVID-19.

The researchers received a grant from the National Science Foundation to support their project, which demonstrates the importance of collaboration and innovation in responding to the pandemic.

The COVID-19 tracking tool and model are just two examples of how data and analytics can be used to combat the pandemic. By leveraging data from various sources, we can gain a better understanding of the virus's spread and make more informed decisions.

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LexisNexis Risk Solutions offers a range of services to help customers manage risk and improve operations. Their services are categorized into five main types: identity verification & KYC/AML, authentication & access, fraud detection & risk scoring, identity orchestration & workflow, and credential issuance & wallet.

Their identity verification & KYC/AML service helps customers verify identities and comply with anti-money laundering regulations. This is just one of the many services they provide.

Here are some of the specific services they offer:

LexisNexis Risk Solutions serves multiple industries and sectors, including those with specialized industry Data Services.

LexisNexis Risk Solutions offers information-based analytics to help customers remain compliant and reduce risk.

Their services cater to multiple industries and sectors, each with specialized industry Data Services.

One such service is ICIS, which provides data and analytics to the energy and petrochemical industries.

LexisNexis Risk Solutions also offers Cirium, a data and analytics service for the aviation industry.

Brightmine, formerly known as XpertHR, is another service they offer, providing data and analytics for human resources and employment law.

They also have EGTM, which provides data and analytics for the energy and gas industry.

Nextens is another service offered by LexisNexis Risk Solutions, providing data and analytics for the energy and petrochemical industries.

LexisNexis Risk Solutions is a subsidiary of RELX, a global provider of information and analytics.

LexisNexis Risk Solutions uses HPCC Systems, also known as DAS (Data Analytics Supercomputer), extensively for high-performance, data-parallel processing.

The HPCC Systems platform includes a data refinery (Thor) and a rapid data delivery engine (ROXIE) that utilize the Enterprise Control Language (ECL).

HPCC Systems provides high-performance, data-parallel processing for big data applications.

LexisNexis Risk Solutions open-sourced the HPCC Systems platform in 2011, leading to its adoption by diverse entities.

GuardHat, a company that makes smart hard hats, uses embedded HPCC Systems technology in its products.

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Our service offerings cover a wide range of identity and access management services, which can be categorized by service type.

We provide identity verification and KYC/AML services to ensure the authenticity of individuals and organizations.

Our authentication and access services enable secure access to digital resources and systems.

Fraud detection and risk scoring are also key components of our service offerings, helping to identify and mitigate potential threats.

We also offer identity orchestration and workflow services, which streamline and automate identity-related processes.

Credential issuance and wallet services allow for the secure storage and management of digital credentials.

Here are the specific service types we offer: