LexisNexis Risk Solutions

red violet Appoints Jonathan McDonald as Executive Vice President of Public Sector Division

Retrieved on: 
Thursday, March 7, 2024

BOCA RATON, Fla., March 07, 2024 (GLOBE NEWSWIRE) -- Red Violet, Inc. (NASDAQ: RDVT), a leading analytics and information solutions provider, today announced the appointment of Jonathan McDonald as Executive Vice President, Public Sector.

Key Points: 
  • BOCA RATON, Fla., March 07, 2024 (GLOBE NEWSWIRE) -- Red Violet, Inc. (NASDAQ: RDVT), a leading analytics and information solutions provider, today announced the appointment of Jonathan McDonald as Executive Vice President, Public Sector.
  • McDonald joins red violet from Clarivate where he was Senior Vice President, Global Public Sector.
  • Prior to Clarivate, McDonald was at TransUnion, where he served as Executive Vice President, U.S. Public Sector.
  • Commenting on his appointment, Jonathan McDonald stated, “I am thrilled to join red violet during this exciting period of growth and transformation.

AM Best to Host Webinar on Auto Insurance Quote Manipulation

Retrieved on: 
Friday, March 8, 2024

AM Best will host a complimentary webinar, titled, “Solving the Profitability Puzzle – Addressing Auto Insurance Quote Manipulation,” sponsored by LexisNexis Risk Solutions, on March 27, 2024.

Key Points: 
  • AM Best will host a complimentary webinar, titled, “Solving the Profitability Puzzle – Addressing Auto Insurance Quote Manipulation,” sponsored by LexisNexis Risk Solutions, on March 27, 2024.
  • Quote manipulation can indicate higher claims risk as individuals provide incorrect information to appear less risky.
  • Unchecked, widespread quote manipulation can lead to better customers subsidizing riskier ones, inflated premiums that drive away good customers, and greater risks of adverse selection.
  • New research suggests that up to 8% of new shopping events could be subject to auto insurance quote manipulation by individuals misrepresenting their garaging address.

Thatcham Research Selects LexisNexis Risk Solutions to Deliver Transformational Automotive Risk Intelligence to the U.K. Insurance Industry

Retrieved on: 
Tuesday, March 5, 2024

LONDON, March 5, 2024 /PRNewswire/ -- In a major development for the U.K. insurance industry, LexisNexis® Risk Solutions, the data, advanced analytics and technology provider, has secured an exclusive strategic relationship with Thatcham Research, in the first contract of its kind with the insurer-funded automotive risk intelligence company. The strategic relationship is set to transform the accessibility, consistency and analytical power of Thatcham Vehicle Risk Data (VRD)i which is used to assign an industry-standard ABI Code and Group Rating score to vehicles. The VRD is integral to how insurers assess and rate risk for all wheels-based insurance products.

Key Points: 
  • The news comes as the Association of British Insurers, in close collaboration with Thatcham Research, has released its motor insurance affordability roadmapii.
  • LexisNexis Risk Solutions will become the sole distributor of Thatcham VRD to the U.K. and ROI insurance market.
  • This strategy makes LexisNexis Risk Solutions well-placed to unlock the potential in the Thatcham VRD product, creating transformational insights for motor insurance providers.
  • The combination of Thatcham Research and LexisNexis Risk Solutions assets and intelligence is compelling, providing an exciting roadmap for new services and insights that will improve the overall motor insurance customer experience."

Automotive Telematics Market worth USD 16.1 billion by 2030 - Exclusive Report by MarketsandMarkets™

Retrieved on: 
Tuesday, March 5, 2024

Although Asia-Pacific leads the automotive telematics market owing to a higher volume of passenger cars, the European and North American markets hold a higher penetration of telematics unit fitment.

Key Points: 
  • Although Asia-Pacific leads the automotive telematics market owing to a higher volume of passenger cars, the European and North American markets hold a higher penetration of telematics unit fitment.
  • OEMs like Volkswagen, Ford, Mercedes-Benz, Audi, and BMW offer telematics units as a standard or optional feature in these regions.
  • Insurance-based assessment services are projected to become a prominent telematics service market by the end of 2030 as they offer several benefits over standard insurance.
  • Hence, the increasing adoption of automotive telematics would prompt the market growth of insurance-based assessment services in the coming years.

Automotive Telematics Market worth USD 16.1 billion by 2030 - Exclusive Report by MarketsandMarkets™

Retrieved on: 
Tuesday, March 5, 2024

Although Asia-Pacific leads the automotive telematics market owing to a higher volume of passenger cars, the European and North American markets hold a higher penetration of telematics unit fitment.

Key Points: 
  • Although Asia-Pacific leads the automotive telematics market owing to a higher volume of passenger cars, the European and North American markets hold a higher penetration of telematics unit fitment.
  • OEMs like Volkswagen, Ford, Mercedes-Benz, Audi, and BMW offer telematics units as a standard or optional feature in these regions.
  • Insurance-based assessment services are projected to become a prominent telematics service market by the end of 2030 as they offer several benefits over standard insurance.
  • Hence, the increasing adoption of automotive telematics would prompt the market growth of insurance-based assessment services in the coming years.

LexisNexis Risk Solutions Named a Leader in Javelin Strategy & Research's Authentication and Identity-Proofing Scorecard

Retrieved on: 
Thursday, February 29, 2024

ATLANTA, Feb. 29, 2024 /PRNewswire/ -- LexisNexis® Risk Solutions has been ranked as Leader in Product Vitals in Javelin Strategy & Research's 2024 Authentication and Identity-Proofing Vendor Solutions Scorecard report.

Key Points: 
  • ATLANTA, Feb. 29, 2024 /PRNewswire/ -- LexisNexis® Risk Solutions has been ranked as Leader in Product Vitals in Javelin Strategy & Research's 2024 Authentication and Identity-Proofing Vendor Solutions Scorecard report.
  • Javelin analysts evaluated the product capabilities of 26 vendors across 168 criteria within the categories of Product Vitals, Product Features and Product Administration.
  • The analysts evaluated the LexisNexis® Dynamic Decision Platform , which integrates various identity and authentication solutions for digital and physical channels.
  • The LexisNexis Dynamic Decision Platform is a machine-learning fueled platform that enables multiple risk assessment solutions, including digital and physical identity verification, behavioral and device intelligence.

U.S. Consumers Continue to Shop and Switch Auto Insurance at Higher Rates, Dragging Down Carriers' Retention Rates

Retrieved on: 
Wednesday, February 21, 2024

ATLANTA, Feb. 21, 2024 /PRNewswire/ --

Key Points: 
  • Quarterly year-over-year growth for new policies outpaced shopper growth for the sixth consecutive quarter, meaning consumers continue to switch carriers at an increasing rate when they shop.
  • Not resigned to higher rates, 41% of insured households shopped their auto insurance at least once in 2023.
  • In an already "hot" shopping market, consumers actively shopped their auto insurance policies.
  • The LexisNexis® Insurance Demand Meter is a quarterly analysis of shopping volume and frequency, new business volume and related data points.

Study Reveals Annual Cost of Financial Crime Compliance Totals $61 Billion in the United States and Canada

Retrieved on: 
Wednesday, February 21, 2024

ATLANTA, Feb. 21, 2024 /PRNewswire/ -- LexisNexis® Risk Solutions released the findings of its latest True Cost of Financial Crime Compliance Study – U.S. and Canada. The commissioned study, conducted by Forrester Consulting, reveals that financial crime compliance costs have increased for 99% of financial institutions. The total cost of financial crime compliance in the U.S. and Canada has reached U.S.$61 billion.

Key Points: 
  • The commissioned study, conducted by Forrester Consulting, reveals that financial crime compliance costs have increased for 99% of financial institutions.
  • The total cost of financial crime compliance in the U.S. and Canada has reached U.S.$61 billion.
  • "As the cost of financial crime compliance rises for organizations across the U.S. and Canada, organizations must take a strategic approach to financial crime compliance," said Matt Michaud, Global Head of Financial Crime Compliance at LexisNexis Risk Solutions.
  • The survey asked participants about organizational priorities, exposure to financial crime activities, financial crime spending and factors driving an increase in financial crime costs, challenges in compliance screening operations, the benefits of financial crime operations and future implementation plans.

Javelin Strategy & Research Releases 2024 Authentication and Identity-Proofing Vendor Solutions Scorecard

Retrieved on: 
Thursday, February 8, 2024

SAN FRANCISCO, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Javelin Strategy & Research, a leading provider of strategic insights for the digital financial world, today released its 2024 Authentication and Identity-Proofing Vendor Solutions Scorecard .

Key Points: 
  • SAN FRANCISCO, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Javelin Strategy & Research, a leading provider of strategic insights for the digital financial world, today released its 2024 Authentication and Identity-Proofing Vendor Solutions Scorecard .
  • The Authentication and Identity-Proofing Vendor Solutions Scorecard evaluates and ranks 26 different authentication and identity-proofing vendors across product vitals, product features, and product administration.
  • We are excited to unveil the 2024 Authentication and Identity-Proofing Vendor Solutions Scorecard, which presents a comprehensive analysis of the leading identity-proofing vendors on the market today.
  • Persona Identities rose to the top as the 2024 overall Best in Class Authentication and Identity-Proofing Vendor and as a Leader in two categories: Product Features and Product Administration.

Mesh, a B2B Identity Startup Founded by Ex-Amazon Execs, Unveils Multi-Factor Business Identity Solution for Marketplaces, Ecommerce, Compliance; Bolsters Leadership with Industry Veterans

Retrieved on: 
Wednesday, February 7, 2024

Their findings among financial institutions echo Mesh’s insights on buyer and seller onboarding in ecommerce, marketplace trust, and vendor compliance.

Key Points: 
  • Their findings among financial institutions echo Mesh’s insights on buyer and seller onboarding in ecommerce, marketplace trust, and vendor compliance.
  • "Mesh has effectively addressed the challenges of establishing business trust and navigating compliance with their innovative Business and Entity Verification solution.
  • Mesh’s journey from License Verification to a Business and Entity Verification (BEV) solution signifies an evolution into a complete, end-to-end business identity platform.
  • With 30+ years of senior Amazon experience, Diego Asenjo (CEO), Tony Bryan (CTO), and founding engineers rounded out their leadership team with industry veterans.