LexisNexis Risk Solutions

Last updated
LexisNexis Risk Solutions
Type Subsidiary
Industry Business Services
Founded2011
Headquarters Alpharetta, Georgia, U.S.
Key people
Mark Kelsey, CEO
ProductsAdvanced Analytics; Compliance; Credit Risk; Customer Experience; Acquisition and Retention; Data Management; Identity Management; Fraud Prevention; Collections and Investigations
Number of employees
6,300 (2018) [1]
Parent RELX
Website https://risk.lexisnexis.com/

LexisNexis Risk Solutions is a global data and analytics company that provides data and technology services, analytics, predictive insights and fraud prevention for a wide range of industries. [2] It is headquartered in Alpharetta, Georgia (part of the Atlanta metropolitan area) and has offices throughout the U.S. and in Australia, Brazil, China, Hong Kong SAR, India, Ireland, Israel, Philippines and the U.K. The company’s customers include businesses within the insurance, financial services, healthcare and corporate sectors as well as the local, state and federal government, law enforcement and public safety.

Contents

LexisNexis Risk Solutions operates within the Risk & Business Analytics market segment of RELX, a multinational information and analytics company based in London. [3]

Overview

Market Segments

LexisNexis Risk Solutions operates in four market segments:

Technology

LexisNexis Risk Solutions uses HPCC Systems, also known as DAS (Data Analytics Supercomputer), extensively [4] —its software architecture runs from commodity computing clusters to provide high-performance, data-parallel processing for big data applications. The HPCC Systems platform includes a data refinery (Thor) and a rapid data delivery engine (ROXIE) that utilize the Enterprise Control Language (ECL). [5] LexisNexis Risk Solutions open-sourced the HPCC Systems platform in 2011, and has seen some success with the adoption of this platform by diverse entities, an example being GuardHat, which makes smart hard hats with embedded HPCC Systems technology.

History

A subsidiary of RELX (formerly Reed Elsevier), LexisNexis Risk Solutions first began as the Risk & Information Analytics Group (RIAG) within LexisNexis, a corporation offering legal database services. In 2000, Reed Elsevier acquired RiskWise and PeopleWise, which together became the basis of RIAG. [6] The creation of RIAG expanded LexisNexis offerings to include public records collections. In 2000, LexisNexis also launched HPCC Systems, its data-intensive computing system platform.

LexisNexis Risk Solutions moved into Collections after Reed Elsevier acquired the public records businesses of Dolan Media Company in 2003. [7] That same year, the LexisNexis Special Services Inc. (LNSSI) was founded to provide government agencies with global sources of data fusion technology and analytics. LNSSI also granted Reed Elsevier the ability to participate in classified U.S. government programs as a foreign-owned entity.

In 2004, Reed Elsevier purchased Seisint Inc., based in Boca Raton, Florida. [8] Seisint housed and operated the Multistate Anti-Terrorism Information Exchange (MATRIX).

In September 2008, Reed Elsevier purchased data aggregator ChoicePoint. This acquisition included an insurance business and the C.L.U.E. database, an underwriting database for the U.S. auto insurance market. LexisNexis completed the migration of public records to HPCC Systems the same year.

Launch

In September 2009, ChoicePoint was integrated with the Risk & Information Analytics Group (RIAG), and the combined new entity became LexisNexis Risk Solutions. In 2011, LexisNexis Risk Solutions was officially launched as a separate company within the Reed Elsevier portfolio.

Mark Kelsey was named CEO of LexisNexis Risk Solutions in December 2012. [9] Over the next two years the company purchased 12 companies including: WorldCompliance, Enclarity, Mapflow, Tracesmart, Wunelli and Health Market Science.

Divestiture

In January 2013, LexisNexis Risk Solutions announced it would sell its background screening business to the Palo Alto-based private equity firm Symphony Technology Group (STG). STG planned to combine LexisNexis screening with its portfolio company, First Advantage. [10]

Insurance Initiatives Ltd. (2016)

In July 2016, LexisNexis Risk Solutions acquired Insurance Initiatives Ltd. (IIL), a data distribution platform that extracts, hosts and processes large quantities of data to deliver information into the point-of-quote in the U.K.'s Property and Casualty Insurance industry. [11]

ThreatMetrix (2018)

RELX purchased ThreatMetrix, a digital identity and risk-based authenticator platform, in February 2018. [12]

Lumen (2019)

In May 2019, LexisNexis Risk Solutions purchased Lumen, an integrated data platform leveraged by public safety and law enforcement from Numerica Corporation. [13]

ID Analytics (2020)

In January 2020, LexisNexis Risk Solutions closed its acquisition of ID Analytics, a provider of fraud and credit risk solutions. Previously ID Analytics was a NortonLifeLock company. [14]

Emailage (2020)

In March 2020, LexisNexis Risk Solutions, acquired Emailage, an Arizona-based fraud prevention and risk management solutions provider. [15]

Governance

LexisNexis Risk Solutions is a subsidiary of RELX (tickers: RELX and REL.UK).

LexisNexis Risk Solutions and Reed Business Information compose RELX’s Risk & Business Analytics market segment, led by CEO Mark Kelsey and overseen by the RELX board of directors.

Corporate Social Responsibility

Missing Children

U.S.

LexisNexis Risk Solutions developed the ADAM (Automated Delivery of Alerts on Missing children) program in 2000 to help the National Center for Missing & Exploited Children (NCMEC) find missing children. [16] ADAM distributes missing child alert posters to law enforcement, hospitals, libraries and businesses within specific geographic search areas. The system was expanded in 2017 to allow individuals to receive an email alert when a child is reported missing near to them. [17]

In 2017, a feature was added to ADAM to allow NCMEC to focus on a highway where a missing child and abductor may be travelling in order to distribute posters to recipients along the relevant corridor. Combining this filter along with the system’s radius search allows for broad, yet targeted, poster coverage. Functionality was added to ADAM to allow members of the public to sign up for missing child email alerts in their area. More than 1.8 million individuals, private enterprises, hospitals, schools, news outlets and law agencies have signed up to receive automated ADAM alerts.

U.K.

In 2017, LexisNexis Risk Solutions began working with the charity Missing People and the UK National Crime Agency to support their Child Rescue Alert service, which disseminates missing alerts via text message. Along with Charlie Hedges Advisory (one of the U.K.’s foremost experts on missing persons), LexisNexis Risk Solutions and Missing People scoped a training course to assist law enforcement, schools, hospitals and others with missing cases, particularly those involving children who are abducted and/or trafficked.

Food Stamp Fraud Prevention

Since 2013, the Florida Department of Children Families has used LexisNexis Risk Solutions for its identity management solutions to prevent food stamp fraud and improve operational efficiencies, achieving a total cost avoidance of more than $843.7 million.

Humanitarian Emergency Education

In 2017, LexisNexis Risk Solutions developed the Global Business Coalition for Education’s Rapid Education Action (REACT) database to record private sector educational contributions and assets that can be deployed quickly in the wake of a humanitarian emergency.

Law Enforcement

PSDE Database

The Public Safety Data Exchange (PSDEX) is a contributory database that of more than 1,300 law enforcement agencies across the U.S. that was created by LexisNexis Risk Solutions. PSDEX helps its participants solve crimes, identify threats and anticipate future threats. LexisNexis Risk Solutions created an Advisory Committee to advise on policy and governance of PSDEX data, to help assure adherence to federal Criminal Justice Information Services (CJIS), state and local standards for security and privacy of law enforcement-provided data. The PSDEX Advisory Committee is composed of former Federal Bureau of Investigation (FBI), Secret Service, metropolitan police department and other criminal justice experts, in partnership with LexisNexis Risk Solutions leaders.

LexisNexis Accurint Virtual Crime Center

The LexisNexis Accurint Virtual Crime Center gives law enforcement “greater visibility into crime in both their jurisdictions and nationwide by linking billions of public records with agency-provided data.” It links to PSDEX and brings together disconnected data to provide a more comprehensive view of people’s identities so that law enforcement agencies can better target investigations, identify patterns, predict upcoming events and deploy resources more efficiently.

COVID-19

COVID-19 Analyzer

In April, 2020, LexisNexis Risk Solutions created a free tracking tool to monitor and report the progress of the Covid-19 virus and provide better contextual understanding of the pandemic’s evolution. Using data from Johns Hopkins University (daily cases and deaths), the US Census Bureau (US population) and the UN DESA (world population), the tracker provides metrics and analysis for locations across the globe, with maps that drill down to country and regional levels, helping to understand how the virus is propagating. [18]


In July 2020, Researchers from Florida Atlantic University’s College of Engineering and Computer Science in collaboration with LexisNexis Risk Solutions, received a grant for Rapid Research (RAPID) from the National Science Foundation to develop a model of COVID-19 spread using innovative big data analytics techniques and tools. The project leverages prior experience in modeling Ebola spread to successfully model the spread of COVID-19. [19]


COVID-19 Data Resource Center

LexisNexis Risk Solutions Health Care announced in April 2020 the launch of a free COVID-19 Data Resource Center to provide county-level insights on at-risk populations and potential care capacity gaps to support the U.S. healthcare industry’s response to the COVID-19 pandemic. By combining its own data and analytics with those of other industry stakeholders, the company created insights to be used by healthcare organizations, public health officials and health researchers to help allocate resources to the populations with the greatest need. [20] The COVID-19 Data Resource Center 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. 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. [21]

See also

Related Research Articles

Wexis is a humorous portmanteau used to refer to the alleged duopoly of publishing conglomerates that dominate the U.S. legal information services industry – namely, West Publishing and LexisNexis.

Elsevier Dutch publishing and analytics company

Elsevier is a Netherlands-based information and analytics company specializing in scientific, technical, and medical content. It is a part of the RELX Group, known until 2015 as Reed Elsevier. Its products include journals such as The Lancet and Cell, the ScienceDirect collection of electronic journals, the Trends and Current Opinion series of journals, the online citation database Scopus, SciVal, a tool that measures research performance, the ClinicalKey search engine for clinicians, and ClinicalPath evidence-based cancer care service. Elsevier's products also include digital tools for data management, instruction, and assessment.

RELX is a British multinational information and analytics company headquartered in London, United Kingdom. Its businesses provide scientific, technical and medical information and analytics; legal information and analytics; decision-making tools; and organise exhibitions. It operates in 40 countries and serves customers in over 180 nations. It was previously known as Reed Elsevier, and came into being in 1992 as a result of the merger of Reed International, a British trade book and magazine publisher, and Elsevier, a Netherlands-based scientific publisher.

The Multistate Anti-Terrorism Information Exchange Program, also known by the acronym MATRIX, was a U.S. federally funded data mining system originally developed for the Florida Department of Law Enforcement described as a tool to identify terrorist subjects.

LexisNexis is an American corporation that sells data mining platforms through online portals, computer-assisted legal research (CALR) and information about vast swaths of consumers around the world. During the 1970s, LexisNexis began to make legal and journalistic documents more accessible electronically. As of 2006, the company had the world's largest electronic database for legal and public-records–related information.

Wolters Kluwer N.V. is an American Dutch information services company. The company is headquartered in Alphen aan den Rijn, Netherlands (Global) and Philadelphia, United States (corporate). Wolters Kluwer in its current form was founded in 1987 with a merger between Kluwer Publishers and Wolters Samsom. The company serves legal, business, tax, accounting, finance, audit, risk, compliance, and healthcare markets. It operates in over 150 countries.

Martindale-Hubbell US legal information services company

Martindale-Hubbell is an information services company to the legal profession that was founded in 1868. The company publishes the Martindale-Hubbell Law Directory, which provides background information on lawyers and law firms in the United States and other countries. It also published the Martindale Hubbell Law Digest, a summary of laws around the world. Martindale-Hubbell is owned by consumer website company Internet Brands.

Hank Asher

Hank Asher was a businessman best known as "the father of data fusion." With a reported fortune of around US$500 million earned as the founder of several data fusion / data mining companies that compile information about companies, individuals and their interrelationships from thousands of different electronic databases. "He's kind of a legend" among those who use investigative data tools, says Greg Lambert, a legal information specialist.

Cortera

Cortera, headquartered in Boca Raton, Florida, USA, is a provider of credit information on businesses and corporations. The company provides business information with a database containing a number of private and public U.S. companies, analytics about each of those companies, and workflow software. Typical users include business analysts, sales and marketing experts and credit & collections professionals who need to research their prospects, customers, and partners. Principal customers include transportation providers, manufacturers and wholesalers, telcos, banks, and other credit and financial institutions.

Albert Edwin Reed (1846–1920) was the founder of Reed Elsevier, formerly Reed International, one the United Kingdom's largest professional publishing businesses. Reed was also a Weslian preacher. His twin sons Albert Ralph Reed —Sir Albert Ralph Reed—and Edward Percy Reed, born in 1884, inherited A.E. Reed and Co in 1920 when their father died.

Moreover Technologies is a provider of business intelligence, media monitoring and news aggregation products for enterprises, also offering free news feeds for consumers. Moreover was founded in 1998 by Nick Denton, David Galbraith, and Angus Bankes. In October 2014, Moreover was acquired by LexisNexis.

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Bloomberg Law online legal research service

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CoreLogic American business data company

CoreLogic, Inc. is an Irvine, CA–based corporation providing financial, property, and consumer information, analytics, and business intelligence. The company analyzes information assets and data to provide clients with analytics and customized data services. The company also develops proprietary research, and tracks current and historical trends in a number of categories, including consumer credit, capital markets, real estate, fraud, regulatory compliance, natural hazards, and disaster projections. The company reported 2018 revenue of $1.79 billion.

ECL is a declarative, data-centric programming language designed in 2000 to allow a team of programmers to process big data across a high performance computing cluster without the programmer being involved in many of the lower level, imperative decisions.

HPCC

HPCC, also known as DAS, is an open source, data-intensive computing system platform developed by LexisNexis Risk Solutions. The HPCC platform incorporates a software architecture implemented on commodity computing clusters to provide high-performance, data-parallel processing for applications utilizing big data. The HPCC platform includes system configurations to support both parallel batch data processing (Thor) and high-performance online query applications using indexed data files (Roxie). The HPCC platform also includes a data-centric declarative programming language for parallel data processing called ECL.

Larsen & Toubro Infotech Indian multinational IT services company

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Lex Machina, Inc. is a company that provides Legal Analytics to legal professionals. It began as an IP litigation research company and is now a division of LexisNexis. The company started as a project at Stanford University within the university's law school and computer science department before launching as a startup in Menlo Park, California. Lex Machina provides an SaaS product to legal professionals to aid in their practice, research, and business.

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The ADAM Automated Delivery of Alerts on Missing Children Program, commonly known as the ADAM Program, is an alert system that is used to help recover missing children throughout the United States. The National Center for Missing & Exploited Children (NCMEC) and LexisNexis® Risk Solutions partnered to develop the program, which has been operating since 2000.

References

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  14. https://risk.lexisnexis.com/about-us/press-room/press-release/20200131-id-analytics-close
  15. https://risk.lexisnexis.com/about-us/press-room/press-release/20200319-emailage-close
  16. https://patch.com/georgia/douglasville/finding-missing-kids-mission-georgia-based-company
  17. "ADAM: Cutting Edge Technology". YouTube.
  18. HPCC Systems Blog, July, 20, 2020 https://hpccsystems.com/blog/COVID-19-Is-there-a-better-way-to-tell-the-story
  19. Big Data Analytics Enables Scientists to Model COVID-19 Spread, Giselle Galoustian,FAU News Desk, July 14, 2020 https://www.fau.edu/newsdesk/articles/big-data-analytics-covid.php
  20. LexisNexis Risk Solutions Launches COVID-19 National Data Resource Center, April 22, 2020, PR Newswire https://www.prnewswire.com/news-releases/lexisnexis-risk-solutions-launches-covid-19-national-data-resource-center-301045286.html
  21. LexisNexis Risk Solutions Publishes Telehealth Statistics via COVID-19 Data Resource Center; Executive Biz, June 18,2020 https://blog.executivebiz.com/2020/06/lexisnexis-risk-solutions-publishes-telehealth-statistics-via-covid-19-data-resource-center-josh-schoeller-quoted/