CoreLogic Completes Acquisition of Next Gear Solutions

The acquisition expands CoreLogic’s suite of claims workflow solutions designed to transform and digitize the P&C insurance claims marketplace.

(Image source: Next Gear homepage.)

CoreLogic (Irvine, Calif.), a provider of property information, analytics and data-enabled services, has announced the completion of the company’s acquisition of Next Gear Solutions, a provider of digital workflow platforms and solutions for the property restoration industry. The combination of Next Gear and CoreLogic’s Claims Connect platforms, property data and analytics, and tools provides insurance carriers and contractors a compelling choice to enhance and transform the claims experience for policyholders, a CoreLogic statement says. Jefferies LLC (New York) served as exclusive financial advisor to Next Gear Solutions.

Garret Gray, Founder and CEO, Next Gear Solutions.

Next Gear Solutions, headquartered in Oxford, Miss., is the leading workflow platform provider for property restoration, which property insurers and restoration contractors trust to modernize their claims handling workflow according to a CoreLogic statement. The company’s cloud-based suite of products, such as DASH, SettleAssist, and MICA, have transformed the way property insurers and contractors collaborate, driving better outcomes for those experiencing a property loss, the statement says.

“The combination of CoreLogic and Next Gear introduces a more compelling alternative to the status quo,” comments Garret Gray, founder and CEO, Next Gear Solutions. “We invite those seeking strategic agility to consider the breadth of our entire platform. We are committed to providing leading edge solutions that promote customer choice and will continue to work with all industry participants to ensure secure and customer-directed flow of data, so the market has expanded options.”

Best-in-Class Solutions for Restoration

Frank Martell, President and CEO, CoreLogic.

“The entire CoreLogic team is excited to join forces with Garret and the Next Gear team as we expand our range of innovative best-in-class solutions for the restoration industry, insurance carriers and other market participants that collectively help millions of people to protect and restore the homes they love,” comments Frank Martell, president and CEO, CoreLogic.

“The combination of Next Gear and CoreLogic creates a leap forward in claims handling technology, bringing customer focus, innovation and more optionality for all property insurance ecosystem stakeholders,” Martell adds. “There has never been a greater focus on transforming critical workflows in the insurance ecosystem and CoreLogic is committed to continuing to invest heavily in expanding our state-of-the art platforms and digital solutions that will drive innovation and make our customers more successful.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthOD[email protected] or (503) 936-2803.

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