Ashish Sabadra: Well, thanks for taking my question. I just wanted to focus on the emerging vertical and the acceleration that we are expecting. I was wondering if you could provide some color on the cadence and in terms of driver is it right for us to think about a lot of the growth is really coming from Neustar accelerating through the rest of the year. But also some other puts and takes around employment screening, tenant, screening and insurance will be helpful? Thanks.
Christopher Cartwright : Yeah, well, thanks for that question. So, emerging did grow in the first quarter about a point and a half. The starting point in the story for the year though, is to point out that it was growing over almost 10% organic comps in the same quarter prior year. And that was again the high watermark. The expectation is over the course of the year, one comps are going to ease as we’ve said and that kind of underpins our forecast, its entirety, to also turn the emerging segment. So easier comps and accelerating growth in a few areas where for idiosyncratic reasons and some market reasons, I think growth fell below where we would typically expect it. That’s certainly true in tenant, screening. We talked a lot about the dynamics there of reduced move volumes because of high prices.
That has eased quite a bit in the recent quarter or so. And then there’s also an expectation of a million additional housing units, rental housing users to come on the market and that should get us back more toward normal volumes, normal revenues. We’re also seeing a recovery in our insurance business. It’s probably the largest single segment it is within the emerging verticals and it was subdued because insurers needed higher prices to compensate for increased repair and replacement costs. That’s largely work itself through the system. We are seeing volumes there improve, as well. Retail and e-commerce are showing some nice strength. A lot of that has to do with the sales of Trusted Call solutions and Branded Call display. And in public sector, there were just some – public sector is kind of a big deal-driven and so it can be lumpy.
And of course, we had to comp some – a contract where there was diminished volume for, some, again maybe idiosyncratic reasons, but we expect public sector to come back, as well. So, we’ve got pretty good confidence in the forecast of revenue acceleration over the remainder the year.
Operator: The next question comes from Heather Balsky with Bank of America. Please go ahead.
Heather Balsky: Hi, good morning. Thank you for taking my question. I was hoping to touch on Consumer Interactive. And it sounds like you’re pulling back on some of your products and just cleaning up the mix there. Can you talk about what’s happening in that segment?
Christopher Cartwright : Yeah. Well, I would say that Consumer Interactive, as you know it’s been challenged for about the past 18 to 24 months. The market dynamics are such where the productivity of our direct-to-consumer marketing efforts declined. We think some of that has to do with structural shift toward freemium. Some of it may have to do with just the economic environment and consumers pairing subscriptions. But that was – it remains the drag in our overall, direct-to-consumer business. Last year, we were in the indirect side of the business, lapping some contract restructuring. That’s fully in the rearview mirror now and the indirect piece, which is materially larger is kind of return to the expected growth levels, which is great.
Sontiq has given us new and exciting capabilities that continues to grow kind of low-double-digits. We’re feeling good about that. And in total, over the course of this year, you’re going to see the rate of organic decline lessen. That’s mainly going to be because Sontiq and Indirect are going to perform well in line with expectations. And the Indirect piece is going to become less and less negative as we get to kind of a equilibrium with our new level of marketing spend.
Operator: The next question comes from Seth Weber with Wells Fargo. Please go ahead.
Seth Weber: Hey, good morning. Just wondering if your guidance, your full year outlook kind of contemplates any changes in the student loan forgiveness landscape. There’s some discussion that that could really cause some pickup in delinquencies, just how you’re thinking about that? Thanks.
Christopher Cartwright : Well, what I would say generally is, the former lenders who run our financial services business do a granular build up of trajectory and pipeline from every type of lender. And they would have included any potential impact from the student lending space. At this point, that doesn’t figure prominently on my risk radar. So I feel like, we’re in pretty good shape with the guidance that we’ve reiterated today.
Operator: The next question comes from Andrew Nicholas with William Blair. Please go ahead.
Andrew Nicholas: Hi, good morning. Thanks for taking my question. Given the increased traction and headlines around Artificial Intelligence and maybe Generative AI, more specifically, I was hoping you could spend some time talking about how you’re leveraging AI at Trans Union today? And maybe what some incremental opportunities might be to leverage it further going forward? And maybe how that could impact growth, your margins in the medium term? Thank you.
