Davies Acquires IRS
London-based international claims administrator Davies has acquired Insurance Risk Services.
IRS, based in Lake Mary, Fla., conducts underwriting inspections for residential and commercial properties. The company operates a network of more than 1,000 field inspectors, Davies said in a press release.
IRS will form part of Davies’ global insurance services business, which is led by Chief Executive Officer Steven Crabb. IRS President Dave Valenzano and Chief Operating Officer Seth Bostock will continue to lead the day-to-day operations, and will report to Davies’ U.S. Insurance Services CEO, Rob Dewen. The wider IRS team will continue in their roles within Davies, the company said.
Davies has greatly expanded its North America operations since 2017, when a Silicon Valley investment firm, HGGC, bought a majority stake in the business.
Verisk Launches Verdict Database
Verisk has added a database on jury verdicts to its Courtside legal dashboard.
Verdicts can vary significantly by jurisdiction, insurance topic, and amount, be challenging to access, and time-consuming and costly to research, Verisk said in a press release. The new database will provide aggregate verdict information by jurisdiction and insurance topic to support insurers’ daily decision making and strategic planning, the company said.
“With better line of sight into historic verdict scenarios, carriers are better equipped to consider potential exposures and address reserve allocations and settlements, while providing underwriting, claims and product teams the ability to incorporate court decision data into their daily decision making,” stated Deborah Morris, senior vice president of ISO Commercial Lines at Verisk.
Sedgwick Using CCC For Auto Claims
Sedgwick, a Memphis-based international claims management provider, has contracted with CCC Intelligent Solutions for auto appraisals.
Sedgwick said in a press release that the agreement will allow it to offer clients end-to-end automobile physical damage claims management from first notice of loss to resolution. CCC’s claims platform, enhanced by artificial intelligence, will streamline and improve policyholder experiences, the company said.
“Digital and AI-first experiences are being activated across the industry and CCC is proud to be powering this transformation, improving the lives of millions of drivers,” stated Shivani Govil, chief product officer for CCC.
Three Service Providers Join as Enlyte
Mitchell, Genex and Coventry became a combined business after Mitchell and Genex merged in 2018 and then purchased Coventry in 2020. Starting this month, they will be tied together under a common name: Enlyte.
The Mitchell, Genex and Coventry brands will continue to provide services to clients in the auto, workers’ compensation and disability insurance lines, but will now share a common brand name.
The launch of Enlyte includes creation of a new customer and market operations team that will bring tother casualty sales, client services, and marketing teams from the three organizations, the company said in a press release. Nina Smith, who served as executive vice president and general manager of Mitchell’s Casualty Solutions Group, will lead the team.
“We are proud of our legacy brands and the teams behind them,” stated Chief Executive Officer Alex Sun. “Each of the three companies will continue to develop and grow the branded solutions that our customers know, with the same collaboration and quality they trust.”
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