Davies, the leading specialist professional services and technology business, serving the insurance and wider highly regulated markets, today announces it has entered into a deal to acquire Vehicle Replacement Group (“VRG”), the specialist provider of vehicle solutions to the UK insurance market.
Based in Birmingham, UK, the business provides end-to-end vehicle rental, third party intervention and new vehicle replacement through its tech enabled platform. VRG will complement Davies established motor claims operations in the UK, adding specialist mobility solutions that enables insurance clients to drive down the cost of mobility. Matt Corby, Managing Director of VRG will continue to lead the business and will report to Kath Mainon, CEO of Davies’ claims solutions business in the UK & Ireland. The deal is subject to customary regulatory approvals, and is expected to close during the first quarter
In recent years Davies has increased its annual investments in innovation and digital transformation more than four-fold, including in its CQ claims processing platform, legal AI and automation, its video and drone claims handling solutions, as well as investing in automation, speech analytics and virtual reality training solutions. Globally Davies has more than 4,000 colleagues, with operating centres across the UK, Ireland, Bermuda, the US and Canada. 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 & change management.
Dan Saulter, Group CEO, Davies commented: “It is a pleasure to welcome Matt and the wider team to Davies. VRG has an excellent reputation in the market and an ethos very closely aligned to ours in delivering exceptional service for our clients. The acquisition is in line with our strategy to deepen and broaden our claims capability and to help our insurance clients to manage and contain their costs”.
Matt Corby, Founder & Managing Director, Vehicle Replacement Group added: “We’re delighted to be joining forces with Davies and are excited to be part of its next phase of growth. The deal will offer our team great opportunities for their personal development and career progression, and we look forward to working with the wider Davies group to the benefit of our highly valued clients.”