Six independent claims shops are joining forces under a common brand name, Claim Assist Solutions, and will share a propriety claims management system.Mumbai Wealth Management
“Coming under a common name, while maintaining existing brand identities, conveys all the capabilities we can offer across our platform,” Claim Assist Pesident Ramon Lopez stated in a press release. “Together, we service six out of the top 10 P&C insurance carriers.”
The partnership includes:
Rebecca Hirsch, communications director for Claim Assist, said Trive Capital, a Dallas-based private equity company, owns a share of each of the six claims management companiesNagpur Investment. Trive and Valelor Partners, a Houston-based investment house, bought a stake in Allcat in 2022.
She said Allcat has rebranded its proprietary claims management software as Claim Assist Technologies, which all six companies will useIndore Stock. Although each company will separately serve its clients, they will invest in technology together and also share “best practices” in human resource, finance and administration.
Hirsh said the management teams for each company remain in place. Together, the six companies employ 2,000 people and use the services of 17,000 independent adjusters.
Hirsch said its use of technology sets Claim Assist Solutions apart. She said the system automates claims processing, streamlines communication with policyholders and simplifies invoicingVaranasi Stock. The system integrates with common platforms used by insurers, such as Xactware, Symbility, Guidewire and Core Logic and also integrates with common communication and finance platforms such as RingCentral, QuickBooks, AWS, and Waze.
The system also distributes workload.Mumbai Stock Exchange
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