Davies, the leading specialist professional services and technology business, serving insurance and highly regulated markets, has announced that it has signed a purchase agreement to acquire IAS Claim Services (“IAS”), the national property claims firm, that provides a range of tech-enabled claims solutions including: desk adjusting, field adjusting and third party administration (“TPA”) services to the insurance market.
Based in San Antonio, Texas, IAS specialises in daily property, commercial, catastrophe & large loss claims and has a nationwide network of independent adjusters serving all 50 states. IAS will form part of Davies’ existing US based Claims Solutions business led by CEO, Matt Button. Walter Leddy, IAS’ CEO and the existing management team will continue to lead the day to day operations and the wider team will continue in their roles within Davies.
Dan Saulter, Group CEO of Davies commented:
“I’m delighted to welcome Walter and the wider team to Davies. IAS brings a wealth of knowledge and expertise to the Group and has invested heavily in developing proprietary technology, including its national loss adjusting platform, virtual inspection & desk adjusting technology solutions. I look forward to being able to offer our clients our enhanced proposition.”
He added: “Diversifying our solutions and expanding our operations across North America is an important plank to our growth strategy. Through the addition of IAS we can become more valuable to our 800+ global insurance and highly regulated clients.”
Walter Leddy, CEO of IAS added: “We’re delighted to be joining forces with Davies. Over recent years Davies has accelerated into the US market, and by combining our businesses we have a stronger service proposition for insurance clients who are seeking to engage with a trusted partner that heavily invests in technology, delivers outstanding service experiences, and enables disruption in the market. I look forward to working with Dan, Matt and the wider Davies team to develop and strengthen our claims solutions offering for our clients.”
Waller Helms Advisors, LLC served as financial advisors to IAS during this transaction.