LONDON, October 20, 2020 — Verisk (Nasdaq:VRSK), a leading data analytics provider, today announced that Davies, the leading specialist professional services and technology firm, has signed a three-year agreement to renew and broaden its use of Verisk solutions, including for remote-working operations. The new contract means the company’s Xactware solutions will now, for the first time, support Davies to accelerate loss validation, estimation, loss adjustment, and repair fulfilment as well as improve customer collaboration through a dedicated live customer portal. Verisk worked closely with Davies throughout 2020 to extend its existing seven-year relationship, further enhancing the existing remote working capability for loss adjusters and other professionals achieved in a two-day period. This ensured uninterrupted operations and a continued first-class customer experience at the depth of the COVID-19 pandemic. The live video service saw a 470% increase in onboarded Davies users and remote customer support cases peaking in July, all possible with tailored Verisk onboarding and training services.
“The continued high level of support and collaboration from the Verisk team has ensured a seamless capability transfer to full remote working for our employees and has been a significant component to provide a resilient ‘as close to business-as-usual’ service to our customers in the COVID-19 period of disruption,” says Russell Crewe, Managing Director – Property Claims at Davies. “This agreement has allowed us to align existing claims systems with a consolidated solution based on the Xactware platform.” Davies have used ClaimXperience to supplement its existing deployment of the Xactimate estimation tool.
ClaimXperience will provide an agile, highly configurable platform to help consistently progress claims in a timely and accurate manner. This is enabled through live video collaboration with customers and improved smart workflows that allow for customer self-serve any time of the day. Verisk has successfully onboarded the entire Davies network, including desk, field, drying, surveying and fulfilment departments, for end-to-end use of the new solution. “Bringing Verisk and Xactware into our Property Claims arm has allowed us to streamline our operations through the use of a single bespoke package. Introducing this new technology has improved our technical and indemnity control delivery for our clients and policyholders, and we’re delighted with the results we’re already experiencing,” adds Kevin Davison, National Performance Manager at Davies. “This expanded agreement with Davies represents a natural evolution in our long-standing relationship, delivering the full capabilities of the Verisk claims portfolio throughout Davies insurance operations to achieve end-to-end benefits,” says Joe Pendle, managing director of Verisk Claims EU. “It is a testament to Davies as an ambitious, forward-looking professional services and technology business willing to embrace large-scale digital transformation and remote operations to benefit customers and employees alike.”
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 4,000 strong team of professionals across the UK, Ireland, Bermuda, the US and Canada with headquarters in the City of London.
Davies’ investors are 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 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, ContactPartners & TriPlus. More information is available at www.davies-group.com.
Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.
For more information, contact:
Simon Woolley, IBA – PR for Verisk
Tel: 01572 757932
Paris Baker, Head of Group Communications, Davies
Tel: 07500 781175