Specialist professional services and tech consulting firm Davies has acquired Building Validation Solutions Group (BVS Group) – a UK-based provider of tech-enabled, end-to-end property claims services for the UK insurance market.
Headquartered in Bolton, BVS specialises in end-to-end claims management, property and subsidence claims validation. It has its own proprietary, web-based claims administration system called Metrix, which is capable of closing over a third of its claims volumes through an automated process.
Following the transaction, BVS will join Davies’s UK-based claims solutions arm, led by CEO Kath Mainon. BVS managing director Chris Brown will continue to lead the business and will report to Davies chief operating officer of property claims Russel Crewe. All of BVS’s employees and contractors will continue in their current roles.
“It’s great to welcome Chris and the wider BVS team to Davies,” said Davies group CEO Dan Saulter. “The business has an excellent track record of disrupting the property claims market, and like us, has invested in clever technology to automate claims journeys for insurers and their policyholders.”
In a statement, Saulter added that 2021 had seen more extreme weather – particularly flooding and the recent Storm Arwen – which had brought catastrophic damages and spikes in claims volumes across the UK. Therefore, automating low-value property claims had become essential for the insurance market, the group CEO said, and the addition of BVS to Davies’s growing claims platform “provides an exciting opportunity for [the company] to take an automated low-value property claims proposition to [its] clients.”
“We’re delighted to be joining forces with Davies. Our shared vision of disrupting traditional claims models through investment in automation and digital transformation was an important factor for us and enables us to take a compelling combined proposition to our clients,” commented BVS managing director Chris Brown.
The acquisition of BVS Group comes shortly after Davies announced day its swoop for Merlinos & Associates – a US-based actuarial consulting solutions company serving P&C, life and health insurance markets in America.
Read more: Davies swoops for Sionic
Earlier this month, Davies also acquired the international consulting and tech firm Sionic for an undisclosed sum. Headquartered in London, Sionic operates across the UK, the US, Canada, Switzerland, India, and Spain.
