(Image source: ClaimCentral homepage.)
Claim Central Consolidated Pty Ltd, a Jacksonville, Fla.-based provider of claims fulfillment technology, has recently completed the acquisition of the remaining shares in Livegenic Inc (Philadelphia), a provider of on-demand and live, virtual collaboration platform for insurance loss control and claim services.
With Claim Central’s acquisition of the remaining shares, Livegenic will become a wholly-owned subsidiary in the Claim Central Group, a major investor in the company since 2017. Livegenic will continue business-as-usual by maintaining its own brand identity, headquarters location, and staff/leadership, including Olek Shestakov as managing director and head of Livegenic. The transition will be transparent to the clients and partners of both companies, and a solid endorsement of the remote service provision each company has championed, according to a Claim Central statement.
“This transaction emphasizes growing demand for a digital remote inspection option as an element of a true end-to-end property claims platform solution,” comments Stephen Applebaum, Managing Partner, Insurance Solutions Group (Chicago).
“Livegenic is at the forefront of independent field data collection,” comments Robin Roberson, managing director, North America, Claim Central. “Claim Central offers leading-edge claim service options and Livegenic’s remote virtual inspection software is an excellent addition to the Claim Central solution set. This acquisition further enhances our ability to help carriers, TPAs, and independent adjusters settle claims quickly, fairly, and on an increasingly remote basis.”
Livegenic’s technology is relevant to insurers accelerated digital transformation efforts resulting from COVID-19, as it provides touchless claims solutions, the Claim Central statement notes. The vendor asserts that collaborative virtual inspection and self-service make for the next logical step for insurance claims innovation. “Policyholders have rapidly become more accepting of, and insistent on, the availability of value-added technology in the claims process; making the Livegenic acquisition an equally logical action for Claim Central, which is a market leader in provisioning virtual inspection services and claim services fulfillment,” the vendor’s statement says.
“Livegenic has had a long-standing relationship with Claim Central, and current market trends have made this the perfect time for us to bring both businesses together in order to deliver a faster and smarter claims experience,” comments Shestakov. “We are very excited to join the Claim Central family and are looking forward to all the new ways that we will work together. This acquisition provides new resources that will enable Livegenic to further enhance our services, expand our platform, and support our customers across the industry. Working with Claim Central will allow us to offer a truly end-to-end inspection and collaboration solution that elevates and expands claims servicing operations globally.”