Business News: Travelers, VenAssure, Sedgwick Make Announcements

August 8, 2019
Travelers Paying Claims with PayPal

Travelers has launched a new service that allows auto, property and general liability policyholders to receive claim payments through PayPal.

The carries link to PasyPal comes through Global Digital Disbursements, a service provided by Bank of America Merrill Lynch.

“The sooner our claimants are paid, the sooner they can recover from a loss and get their lives back to normal — PayPal will help make that happen as quickly as possible,” stated Ellen Rizzo, senior vice president of claim at Travelers. “This is the natural evolution of our claim payment processes, and it is one more way we’re making the entire claim experience easier.”

PayPal is a digital payments platform that provides users with access to financial services including a digital wallet to send or receive money as well as make purchases. By distributing claims through PayPal, funds are usually delivered the same day that payment is issued by Travelers.

Workers’ compensation claimants are expected to be eligible to receive payments via PayPal in 2020, the carrier said.

PhotoFax Joins VenAssure Platform

VenAssure, a technology platform provider based in Norman, Oklahoma, announced that PhotoFax has joined its vendor marketplace that connects private investigation agencies to clients across the United States.

VenAssure’s platform helps third-party administrators and employers effectively manage the workflow of multiple private investigation cases and investigators. Customers may use the platform to manage their existing vendor relationships or find new private investigators using the included vendor marketplace, the company said in a press release.

PhotoFax has been providing private investigation services with a strong emphasis on technology since 1988, VenAssure said. The company’s unmanned surveillance vehicles allow them to discreetly surveil a subject 24 hours a day for several continuous days with all activity monitored remotely by a licensed investigator in the corporate office. The technology allows the operator to pan, tilt, or zoom to capture high-quality video relevant to the investigation and provide it to clients in real-time.

The VenAssure platform reduces risk by allowing companies to send personally identifiable information securely, use chat and direct message features to communicate with their chosen investigators, and view complete details about each case online at any time, the company said.

Sedgwick Acquires Nordic Loss Adjusting

Sedgwick announced that it has acquired Nordic Loss Adjusting AB and related entities.

Nordic Loss Adjusting is an independent provider of claims handling, loss adjusting and third-party administration services based in Stockholm, Sweden. Founded in 2010, NLA also has offices in Gothenburg, Sweden and Oslo, Norway, Sedgwick said.

Sedgwick, headquartered in London, said bringing the NLA business under the Sedgwick umbrella will elevate service delivery in the Nordic market and establish a platform for continued growth in Europe.

“NLA’s strong presence in Sweden and Norway positions us well to expand Sedgwick’s market share in the Nordics,” stated Ian V. Muress, Sedgwick CEO of international operations. “Their management team and talented colleagues are highly regarded in the industry and have longstanding working relationships with Sedgwick leaders in the region. Our organizational cultures are nicely aligned for potential strategic hires, especially in Norway.”

The combined Sedgwick operation in Norway will be managed by Dan Sivertsen, chief executive officer for Norway and Philip Hayes, chief operating officer for Norway. Christian Leif Hansen will manage the combined teams as CEO, Nordics.

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