Sedgwick Buys Managed Care Advisors
Sedgwick has acquired Managed Care Advisors, a Bethesda, Maryland-based firm that provides workers’ compensation and speciality health plan products to the federal government.
MCA has provided claims management, disability and absence management, analytics and speciality health plan management services to the government since 2005.
Sedgwick, headquartered in Memphis, Tenn., said in a press release that the acquisition will expand the breadth and depth of its offerings to the government. The claims management company employs 27,000 people in 65 countries.
MCA will operate as a wholly owned subsidiary of Sedgwick Public Sector, a holding company that focuses on claims services to government agencies.
True Flood Risk Awarded Patent
True Flood Risk has been awarded a US patent for its system and method for detecting objects in images used to determine property-level structural elevation or first floor height.
The company, headquartered in Bronxville, N.Y., said in a press release said that its product allows users to instantly count steps and estimate the structural height of commercial and residential structures using digital images as an alternative to property inspections.
“Historically, flood maps and models examined the horizontal plane of flooding but didn’t factor in how different levels of flooding would impact a specific building,” stated Shelly Klose, founder and chief executive officer of True Flood Risk.
The company said it plans to integrate its technology throughout its property level flood risk assessment platform, flash flooding simulations and cost-benefit analysis tools.
Xceedance Lauches TPA
Xceedance, a Bermuda-domiciled insurance consulting business, has launched a third-party administration service.
Xceedance said in a press release that the Xceedance Claims TPA is a key offering from its recently expanded claims division.
The company said it hired James Maddiona to lead the new operation. He was formerly senior vice president of excess casualty claims for American International Group. Before then, he worked for Greater New York Mutual Insurance and Fireman’s Fund Insurance Co.
Xceedance has offices in the United States, United Kingdom, Liechtenstein, Switzerland, Poland, India, and Australia. The company advises insurers in product launches, implementing technology and optimizing business processes.
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