Nashville, TN – Davies, the leading specialist professional services and technology business serving insurance and highly regulated markets, today announced the acquisition of Quick Internet Software Solutions, Inc. (known as ClaimPilot), the leading provider of claims management software spanning Property, Liability, Workers’ Compensation and Auto claims for Third Party Administrators (TPAs), Independent Adjusters & Self-Insured Entities.
Based in College Station, Texas, ClaimPilot’s web-based Software as a Service (SaaS) platform enhances claim visibility through personalized claims tracking and reporting solutions, providing access to complete, accurate and real-time data. The platform can be integrated with insurers’ systems for electronic data exchange, and through ClaimPilot’s Lloyd’s reporting capability, users can report specific data on risks and claims transacted under contracts with syndicates. Bordereau reports showing a probabilistic view of future exposure and projected pay-outs on losses can also be generated through the system to help insurers determine potential premium adjustments and identify trends.
ClaimPilot will join Davies’ global Technology unit. President & CEO David Quick will continue to lead the business, reporting to Davies’ Senior Vice President of Technology, Jason Wolfe, and all ClaimPilot employees will continue in their roles with Davies.
Over the past year, Davies has expanded its range of specialist solutions for the Lloyd’s and London market. In April 2022, the firm accelerated into the regulatory technology (“RegTech”) market through the acquisition of Worksmart, the leading platform for complaints management and feedback at Lloyd’s that is fully aligned to Lloyd’s’ complaints reporting requirements. In July 2022, Davies broadened its offering to include end-to-end insurance management solutions to entrepreneurial underwriters and MGAs, intermediaries, (re)insurers and captives, Lloyd’s syndicates, and InsurTechs through the acquisition of Asta, the market-leading third-party managing agent at Lloyd’s, following approval by regulators.
In recent years, Davies has established and expanded its operations in the U.S. through a combination of strong organic and M&A growth, with the firm now offering a full range of TPA and loss adjusting solutions across all 50 states, as well as captive management, auditing, actuarial, subrogation, excess claims management and risk and inspection solutions.
Globally, Davies’ 6,500+ colleagues operate across Bermuda, Canada, India, Ireland, Spain, Switzerland, the UK and U.S. The business delivers professional services and technology solutions across the risk and insurance value chain, including excellence in claims, underwriting, distribution, regulation, customer experience, human capital, digital transformation, and change management.
Davies’ digital transformation program has successfully launched a range of technology-led solutions to support insurance and highly regulated markets, including the use of video, drones, robotics and a “disruptive thinking” innovation lab that places the power of new ideas in the hands of its people.
More information is available at www.davies-group.com.
Dan Saulter, Group CEO, Davies commented: “I am delighted to welcome ClaimPilot to Davies. As one of the early creators of web-based claims management software in the U.S., and a long-standing advocate for digitization within the insurance industry, ClaimPilot will strengthen both the solutions and experience we can offer our insurance clients globally.”
David Quick, President & CEO, ClaimPilot added: “I’m really pleased that ClaimPilot is joining Davies. Our shared focus on innovation and exceptional service makes this a strong union to help the insurance community navigate increasingly complex challenges. I look forward to working with Dan and the wider Davies team to develop and strengthen our claims solutions for our clients.”
Davies is a multi-award-winning specialist professional services and technology business. Davies delivers operations, consulting and technology solutions across the risk and insurance value chain, including excellence in claims, underwriting, distribution, regulation, customer experience, human capital, transformation & change management. Davies’ core service lines include Claims Solutions, Legal Solutions, Insurance Services and Consulting & Technology. Davies has a 6,500+ strong team of professionals across the UK, Ireland, Bermuda, the U.S., Canada, Spain, Switzerland & India with headquarters in the City of London. Davies’ investors are BC Partners, HGGC, AIMCo (acting on behalf of certain of its clients), and Davies’ employees following HGGC’s majority investment in January 2017 and AIMCo’s minority investment in January 2019. Davies’ programme of digital transformation has seen it successfully launch a range of technology-led solutions in to its insurance and highly regulated markets, including the use of video, drones, robotics and its “Disruptive Thinking” innovation lab that places the power of new ideas in the hands of its people. Over recent years Davies has consistently delivered double-digit organic growth through a combination of growing its solutions with existing clients and adding new partnerships to its business. In September 2020 Davies was named in Sunday Times PwC Top Track 250 as an important mid-market contributor to the UK during the pandemic. In the past year Davies has added more than 150 new accounts to its organic platform. In addition, Davies has successfully broadened and deepened its operations and digital capabilities via targeted acquisitions. Since the start of 2017 Davies has acquired: Cynergie, CMSL, Ambant, ServiceTick, TLSS, R&Q’s insurance services business, Ember, Direct Group’s claims businesses, Veriphy, USA Risk Group, TMS, GBB, Banwells, Frontier, FWD, ASC, Thornton Group, Keoghs, Codebase8, Citadel & Cedar Consulting, ContactParners, TriPlus, Johnson Claim Service, Vehicle Replacement Group, BMTS, Wakely Actuarial, Northshore International Insurance Services, DMS, NPA, Littleton, Grovelands, IAS, Asta, IRSi, Sionic, BVS, Worksmart, ProAdjust, Johns Eastern & ClaimPilot. More information is available at www.davies-group.com.
About BC Partners
In March 2021 Davies announced that BC Partners has signed a definitive deal to take a majority stake in the business, to support Davies next phase of international expansion and continued digital transformation. The BC deal closed early in August, following receipt of regulatory approvals. BC Partners is a leading international investment firm with over €33 billion of assets under management in private equity, private credit and real estate. Established in 1986, BC Partners has played an active role in developing the European buy-out market for three decades. Today, BC Partners executives operate across markets as an integrated team through the firm’s offices in Europe and North America. Since inception, BC Partners Private Equity has completed 119 private equity investments in companies with a total enterprise value of over €150 billion and is currently investing its eleventh private equity fund. For more information, please visit www.bcpartners.com.
HGGC is a leading middle-market private equity firm with $4.3 billion in cumulative capital commitments. Based in Palo Alto, Calif., HGGC is distinguished by its Advantaged Investing approach that enables the firm to source and acquire scalable businesses through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Over its history, HGGC has completed more than 130 platform investments, add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of nearly $22 billion. More information, including a complete list of current and former portfolio companies is available at www.hggc.com.
About Alberta Investment Management Corporation (“AIMCo”)
AIMCo is one of Canada’s largest and most diversified institutional investment managers with more than C$115 billion of assets under management. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. AIMCo operates at arms-length from the Government of Alberta and invests globally on behalf of 31 pension, endowment and government funds in the Province of Alberta. AIMCo’s head office is located in Edmonton, Alberta, with additional offices located in Toronto, London, and Luxembourg. AIMCo’s Private Equity team comprises a dedicated group of experienced investment professionals and manages a private equity allocation of approximately C$6.0 billion. More information is available at www.aimco.alberta.ca.
Dana C. Hackley, Ph.D., U.S. Senior Content Writer
Sarah Allen, UK PR Manager