Dublin, Ireland - Minister for Jobs, Enterprise and Innovation Richard Bruton TD has announced that LexisNexis® Risk Solutions, a leading provider of data, analytics and technology to help organizations predict and manage risk, plans to establish a data analytics centre in Dublin. Over the next three years, LexisNexis plans to add approximately 70 new jobs, with most of these roles related to the data analytics centre with the support of the Department of Jobs, Enterprise and Innovation through IDA Ireland.
The Dublin-based centre of excellence for data analytics will support the company’s UK and Ireland insurance operations as well as supplement US-based operations. The Dublin office for LexisNexis was formed as a result of the company’s acquisition of Mapflow, a Dublin-based geographic risk assessment technology company, in September 2013.
LexisNexis is a market leader in the US working with 100 per cent of the US general (property and casualty) insurance market. Additionally, LexisNexis delivers solutions to more than 90 per cent of the UK insurance market.
Making the announcement, Minister Brutonsaid: “Data analytics is a key sector which is growing rapidly worldwide and which we have targeted as part of our Action Plan for Jobs, and in recent years we have seen an impressive jobs performance in Ireland in this area. Today’s announcement that LexisNexis, a world-leading company in this area, is establishing a data analytics centre in Dublin with the creation of 70 extra jobs is a further boost. I am determined to ensure that, with the right policies, we can see continued jobs growth in this area.”
“With our technology capabilities, there is an opportunity for us to continue to expand the data analytics and enrichment solutions we provide our insurance customers across the UK, Ireland, Europe and North America,” saidBill McCarthy, Managing Director, UK and Ireland, Insurance, LexisNexis Risk Solutions. “Our customers are continually looking for more ways to better understand their business and their customers, using big data and technology, and see LexisNexis as a key partner in helping them achieve this.”
Combining a variety of internal and external data sources through enrichment, LexisNexis provides insurers with the critical insight and tools to assess and manage risk across their motor, household, commercial and life insurance businesses, leveraging the company’s proprietary big data technology platform, HPCC Systems. With more than two petabytes of unique data, LexisNexis enables insurers to understand more about the risks they underwrite, write more profitable business, increase efficiencies, lower claims exposure, reduce fraud as well as enhance customer experience.
“We’re excited to create this hub for data analytics expertise in Dublin, and the potential it offers for us to grow the business,” said John Beal, SVP, Analytics, LexisNexis Risk Solutions. “HPCC Systems combines data and linking capabilities to allow us to identify, connect and organise vast quantities of data with very high levels of reliability. This allows our clients to aggregate key risk data, such as location, personal, business and asset-related data, to make more informed decisions.”Welcoming the announcement, Martin Shanahan, CEO IDA Irelandsaid: “IDA Ireland is targeting the data analytics sector as an area set for high-growth – we believe that Ireland has huge potential here. The establishment of a dedicated Centre of Excellence for Data Analytics by LexisNexis® Risk Solutions in Dublin will strengthen Ireland’s brand as a place where businesses can find talent to match their needs.”