Davies Buys Northshore
Davies, a London-based professional services and technology business, has continued a US expansion with the acquisition of Northshore International Insurance Services, Inc.
Northshore, based in Danvers, Mass., provides audit, claims management, subrogation management and consulting services to insurers. Its chief executive officer, Steve Murphy, will continue to lead the company.
The purchase also included Northshore’s International Subrogation Management division in Plainfield, Ill., Davies said in a press release.
The Northshore employees will join Davies’ insurance services business unit, led by CEO Steven Crabb.
Last year Davies announced a deal to acquire the captive management & consulting businesses of insurance and reinsurance specialist Citadel Risk, based in the US and Bermuda, “adding significant scale and reach to Davies’ established captive management segment,” the company said. In December, Davies also completed the acquisition of Wakely Actuarial, a specialist actuary and consulting business based in Florida.
“As we head in to 2021 we will continue to invest and push for organic growth in all our core markets, as well as working with like-minded businesses via M&A to ensure we can deliver for our insurance and highly regulated clients,” stated Dan Saulter, group CEO of Davies.
Charles Taylor Purchases Aegis
Charles Taylor, a London-based technology provider to the insurance industry, has acquired Aegis Corp., a third-party claims administrator based in Brookfield, Wisc.
“Mutual management and claims handling have been essential parts of Charles Taylor’s services for more than a century,” stated Group Chief Executive Officer Rob Brown in a press release. “The addition of Aegis further bolsters our capabilities in this segment and also builds our ability to serve public entities.”
Aegis provides claims services to risk pools and self-insured clients. The business is headquartered in Brookfield, Wisconsin, where approximately 45 employees oversee insurance programs and manage claims for approximately 200 clients with $350 million in annual premiums under management, the company said.
The acquisition follows Charles Taylor’s acquisition of SBSA in August 2020 and an announced agreement to acquire the Cosulich Group in October 2020.
“We look forward to joining Charles Taylor and leveraging the combined resources, expertise and technology to enhance our claims management offering and continue to create favorable claims outcomes for our clients,” stated Aegis President John Dirkse.
Vehicle Service Group Launches Hail Damage Product
Chief Collision Technology announced the launch of a an automated hail claim management platform that will allow insurers, fleet managers and collision shops to track claims from the first notice of loss to vehicle repair.
Chief, a division of Vehicle Service Group based in Madison, Ind., said its Constellation product quickly scans damaged vehicles, identifies hail dents and calculates the size within minutes. The information is used to estimate the cost of repairs. VSG said the vehicle hail scan technology was developed by Bob Finkle and Richard Adelman of the United States and the Scanmen Group from Belgium—Denise Bartels, Geert Willems and Aivaras Grauzinis.
Constellation eliminates the need for an adjuster to manually review the damage, thereby reducing expenses and improving the accuracy of estimates, the company said. Chief will also supply to customers who need it full-service, supplement-free paintless dent repairs through National Hail and Dent, a well-known repair company with more than 28 years of experience.
Constellation will be available for the 2021 hail season, the company said.
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