Davies, the leading specialist professional services and technology business, serving the insurance and wider highly regulated markets, today announces the acquisition of Disability Management Services, Inc. (“DMS”), the Massachusetts, US based disability claims and insurance services third party administrator (“TPA”). DMS provides claims, policy administration and consulting services to the disability insurance market.
Earlier this year Davies deepened its claims administration offering to include long-term care solutions through the acquisition of TriPlus, which joined the firm’s existing Claims Solutions US arm. The acquisition of DMS further broadens Davies’ offering into the Life and Health insurance space, adding disability insurance domain expertise, along with 180 new specialist colleagues, who all join Davies. The additions of TriPlus and DMS together establishes Davies as a leader in life & health claims administration in the US. DMS COO Steve Miller will replace current CEO and founder Bob Bonsall who will retire upon completion of the transaction. Miller will report to Davies’ US Life & Health CEO, Peter Lucas.
Davies has established and expanded its operations in the US through a combination of strong organic and M&A growth, with the firm now boasting claims capability spanning both the Property & Casualty and the Life & Health insurance markets. Davies’ offering in the US includes a full range of TPA and loss adjusting solutions across all 50 states, as well as captive management and auditing 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’s exciting that we have been able to bring DMS and Davies together and I am delighted to welcome DMS’ leadership team, along with the company’s broader workforce to our business. Building our Life & Health claims capability in the US is a strategic focus and a growing market. DMS has an excellent reputation, with strong client relationships, and an ethos for great service delivery, all of
which provides for close alignment with TriPlus and our wider Davies operations.”
He added: “Looking to 2021, our US and Bermuda operations now represent around a quarter of our global operations. Investing in the US remains a core part of our growth strategy. We will continue to push for organic growth, as well as working with like-minded businesses via M&A to ensure we can deliver for our 750+ global insurance and highly regulated clients.”
Bob Bonsall, DMS added: “I am very pleased that DMS is joining forces with an organization that is committed to growth and innovation in the Life & Health insurance market in the US. Davies’ history of investing in people and technology, along with a commitment to always put the interests of clients first, aligns well with the values upon which DMS has been built. The cultural fit with Davies was an important factor as we planned for our company’s future and I believe the combination with Davies will present DMS employees more career development opportunities and an exciting future as the company continues to grow.”