LexisNexis Risk & Information Analytics Group Expands its RecoverScore Product Line for the Collections Industry
Expanded Product Line Created for Credit Card, Litigation, Student Loan, Medical and Telecom Debt. March 12, 2008 — New York, NY, March 12, 2008 - LexisNexis® Risk & Information Analytics Group today announced the expansion of the RecoverScore™ product line, which now includes advanced scoring models for Credit Card, Litigation, Student Loan, Medical and Telecom debt. The RecoverScore product is part of the LexisNexis Collections Management Solution line. With the expansion of the RecoverScore product line, LexisNexis Risk & Information Analytics Group helps collectors explore more specialized types of debt, prioritize their collection efforts and focus on the most collectible accounts in their portfolio. In addition, segmentation techniques help collections professionals design and execute highly effective collection strategies for greater return on investment. "When clients test us in their workflows, they often find LexisNexis RecoverScore to be a more cost-effective and better-performing alternative to other credit-based scores and other scoring options”, said Fite. “Or they see RecoverScore as a complement to their existing scores already deployed in their workflows." • Debtor Insight - Data & information Intelligence tools that combine data and logic to create a greater degree of debtor insight. • Collections Analytic Tools – Solutions that allow firms to more effectively segment their portfolios and develop the most effective collections strategies to better build their business and manage their debt portfolios. • Collection Services – Services and capabilities to help enable key work flow processes for increased performance.
Studies have shown that in many instances, an estimated 50% of debtor accounts represent 80% of the collection payments obtained. The LexisNexis RecoverScore product line helps to identify those accounts which are most likely to result in a collection payment.
"The cost efficiency of RecoverScore allows clients to score more of their portfolios than is often possible through other more costly credit-based scores," said Rob Fite, vice president of collection solutions for LexisNexis Risk & Information Analytics Group. "By leveraging our extensive databases and analytics capabilities, RecoverScore can provide contactability and liquidity assessments that outperform other scores in the Collections marketplace."
The expanded RecoverScore product line is part of the Collections Analytic Tools capability that LexisNexis Risk & Information Analytics Group offers its collection customers. LexisNexis® Collections Management Solutions offer collections professionals the following capabilities:
About LexisNexis
LexisNexis® (www.lexisnexis.com) is a leading global provider of business information solutions to a wide range of professionals in the legal, risk management, corporate, government, law enforcement, accounting and academic markets. LexisNexis originally pioneered online information with its Lexis® and Nexis® services. A member of Reed Elsevier [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), LexisNexis serves customers in more than 100 countries with 13,000 employees worldwide.
About LexisNexis Risk & Information Analytics Group
LexisNexis Risk & Information Analytics Group is a natural extension of the core competencies and technologies proven in the LexisNexis online products from the past 30 years. The LexisNexis Risk & Information Analytics Group builds on the LexisNexis tradition as a trusted provider and custodian of quality information, and leverages new cutting-edge technology, unique data and advanced scoring analytics to create total solutions to address client needs.
LexisNexis Risk & Information Analytics Group is specifically designed to serve the multi-billion dollar risk information industry which is comprised of professionals and organizations such as law enforcement, government agencies, financial services firms, collection agencies, insurance and health care providers, hiring managers, and other professionals.
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