(McGehee House, Hammond, La. Photo credit: Z28scrambler.)
Worley Claims Services, LLC (Hammond, La.), a provider of insurance claims services in North America, has announced the acquisition of Audit Services Incorporated (ASI; Atlanta), a claim estimate writing and review supplier for the property and auto insurance markets. Worley did not disclose financial terms. StoneRidge Advisors, LLC advised Worley on the transaction. The ASI deal is Worley’s sixth acquisition since 2015.
Worley explains the rationale of the acquisition saying that, since its founding in 1998, ASI has established itself as a leader in providing the highest quality estimate writing and review services for its property and auto clients throughout the United States. Worley cites ASI’s “talented and experienced” staff of over 350 employees, and its specialty of providing best-in-class offerings including desk estimate review, post repair audits, total loss estimates and call center capabilities.
“ASI’s leadership and highly skilled employees have established a reputation in the industry for delivering outstanding services to their clients,” comments Jim Pearl, CEO, Worley. “ASI offers Worley a strong platform to help expand our property and auto estimate review services.”
The acquisition was undertaken to enhance Worley’s ability to service its national and regional insurance carrier partners and aligns with the firm’s long-term strategy to continue making investments that will allow Worley to be a more comprehensive service provider capable of meeting the needs of our clients throughout the claim lifecycle, Pearl adds.
Accelerating ASI’s Ability to Implement Growth Strategy
“I am excited to partner with Worley to continue to build and expand ASI,” comments John Hall, CEO, ASI. “Worley’s resources and capabilities as a leader in the North American claims services market should accelerate ASI’s ability to implement its growth strategy and deliver innovative solutions to the property and casualty market.”
The two organizations share a similar culture focused on providing superior customer service to our clients and strong career opportunities for our employees, Hall adds. “I am pleased that all 350 experienced and talented employees of ASI are expected to continue in their current roles and have excellent opportunities going forward as part of a larger organization,” he says.
Worley’s recent acquisitions include the July 2015 deal for Indiana-based NCA Group, a provider of daily and catastrophe residential and commercial property claims services throughout the U.S. In October of 2015, Worley acquired Charlotte, North Carolina-based RJMW Claims Services, a regional provider of daily and catastrophe residential and commercial property claims services. In July of 2016, Worley acquired San Jose, California-based Summit Independent Claim Services, which provides commercial/GA and residential property loss adjusting services. In August of 2016, Worley acquired Orlando, Florida-based Nexxus Solutions Group, a national managed repair contractor and service provider network serving the property insurance industry in the U.S. and Canada. Most recently, in June of 2017, Worley acquired Massachusetts-based Apex Claims Services of New England, a regional provider of property claims services.