UK professional services and tech company Davies has acquired Irish loss adjuster and claims management firm ProAdjust.

ProAdjust specialises in personal and commercial property claims and can deploy loss-adjusting solutions during claims surges and catastrophic events.

The firm will be integrated into Davies claims solutions division for both Britain and Ireland, with its managing director, Martin Carway, remaining at the helm of the Irish business and reporting to Davies’ Ireland chief executive Peter Haran.

Deal details have not been disclosed.

Martin Carway commented: “I’m very pleased ProAdjust is becoming a part of Davies, which has a shared focus on service excellence and technology investment to help the insurance market navigate increasingly complex customer demands and needs.”

In Association with

Davies group chief executive Dan Saulter added: "The continued rise we have seen in catastrophic events across the UK and Ireland in recent years has emphasised why it is so essential for insurers to have a flexible network of experienced field adjusters that can be redeployed quickly to impacted areas.Adding ProAdjust’s expertise to our growing claims platform enables us to take an increasingly specialist field adjusting offering in Ireland to our global clients.”

According to Saulter, in recent years Davies has diversified and deepened its claims solutions capabilities to provide a fully automated low-value property claims solution, home emergency expertise and end-to-end insurance-related vehicle rental, third party intervention and new vehicle replacement.

Saulter said that Davies has increased its annual investment in innovation and digital transformation more than four-fold, including in its CQ claims processing platform, legal AI and automation, its video and drone claims handling solutions, as well as investing in intelligent automation, speech analytics and virtual reality training solutions.

The firm has c.6,000 staff operating in Bermuda, Canada, India, Ireland, Spain, Switzerland, the UK and US.

ProAdjust was founded in 2004 and was majority-owned by managing director Martin Carway. The business booked a net profit of c.€640,000 for the financial year ending January 2021.

Private equity firm BC Partners holds the majority stake in Davies. In 2021 the business had turnover of £310m and EBITDA of £37m.

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, ContactParners, TriPlus, Johnson Claim Service, Vehicle Replacement Group, BMTS, Wakely Actuarial, Northshore International Insurance Services, DMS, NPA, Littleton, Grovelands, IAS, IRSi, Sionic, BVS, Worksmart, and now ProAdjust.

Photo: Martin Carway (centre) and ProAdjust colleagues.