Big data and security

Synopsis

Lexus Nexus provides computer-assisted legal research and holds the world's largest electronic database of legal and public record information. VJ Ragavan, the Chief Technology Officer of the Risk Solutions business at Lexus Nexus, discusses the company's pioneering role in bringing legal and business information online, predating the term 'big data.' Lexus Nexus aggregates data from various sources, enabling unique risk assessments beyond traditional credit bureaus. This capability is crucial for insurance companies when determining premiums and assessing fraud risks during claims. The company excels in identifying patterns within its data, revealing non-obvious relationships that may indicate collusion in fraud cases across both government and private sectors, particularly in Insurance Financial Services. Ragavan emphasizes that their big data solutions were developed out of necessity for internal use, long before the term became mainstream.