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. It is headquartered in Alpharetta, Georgia (part of the Atlanta metropolitan area), and has offices throughout the U.S. and in:
Australia; Brazil; China; France; Hong Kong SAR; India; Ireland; Israel; the 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.
LexisNexis Risk Solutions operates within the Risk & Business Analytics market segment of RELX, a multinational information and analytics company based in London.
Overview
Market segments
LexisNexis Risk Solutions operates in four market segments:
Insurance Services; Business Services; Health Care Services; and Government Services.
Technology
LexisNexis Risk Solutions uses HPCC Systems, also known as DAS (Data Analytics Supercomputer), extensively—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). 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. 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. 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. 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. 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.
Coplogic (2014)
In December 2014, LexisNexis Risk Solutions acquired Coplogic, a leading provider of citizen self-reporting software solutions to law enforcement agencies. The acquisition – which includes Coplogic’s technology, staff and book of business – adds a citizen incident reporting capability to the LexisNexis eCrash solution.
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.
Appriss (2016)