U.S. DOL Awards LexisNexis Risk Solutions $1.2B Blanket Purchasing Agreement

The vendor will provide digital identity verification solutions to state unemployment insurance programs in reaction to increased fraud arising from pandemic.

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The United States Department of Labor (DOL) has awarded LexisNexis Risk Solutions (Atlanta) a Blanket Purchase Agreement (BPA) to provide industry leading digital identity verification for state unemployment insurance programs, according to a LexisNexis Risk Solutions statement. The five-year, $1.2 billion award is the continuation of longstanding relationships with federal, state, and local agencies, the vendor says.

The LexisNexis statement notes that the pandemic created unanticipated strains on state benefit systems that made them heightened targets for fraud, and this award from the DOL allows LexisNexis Risk Solutions to continue to partner with State Workforce Agencies  to detect and prevent fraud, promote equitable access, and ensure the timely payment of benefits.” The vendor says this partnership further solidifies its position as a leading provider of identity proofing solutions to government agencies.

Haywood Talcove, CEO, Government, LexisNexis Risk Solutions.

LexisNexis Risk Solutions describes its digital identity and authentication capabilities as incorporating identity authentication and document capture with biometric, identity verification and device/digital/behavioral risk assessment. The company says its fraud and identity solution suite transforms data insights into actionable decisioning to provide a holistic view of an identity for enhanced risk assessment and a positive user journey regardless of time of day or touchpoint.

Actionable, Unbiased Insights

“Unemployment fraud has become an epidemic of its own and state UI agencies need a trusted partner with decades of experience to leverage risk-based digital identity verification tools that work equitably and seamlessly,” comments Haywood Talcove, CEO, Government, LexisNexis Risk Solutions.  “Our unique solutions stop over $1 billion in fraudulent payments every week and turn data into actionable, unbiased insights without friction for users, which sets us apart from others in our industry. We consider it an honor to put our innovation and research to work to assist government agencies to prevent fraud and get critical, life-saving benefits to the American people.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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