Las Vegas, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Davies, the leading specialist professional services and technology business serving insurance and highly regulated markets, is today announcing its partnership with CalcFocus, the life, annuity and voluntary benefits policy administration and illustration solutions provider.
By combining Davies' expertise in managing complex projects alongside CalcFocus' award-winning technology, insurers will gain the ability to develop and manage innovative programs. This collaboration enables insurers to rapidly and cost-effectively deliver new life insurance products while fully realising the benefits of modern policy administration approaches.
The partnership will see the two firms join forces, combining Davies’ insurance consulting expertise to delivery services involved in CalcFocus’ automated, technology driven policy administration solution (PAS), Achieve. The cloud deployed platform provides a full suite of integrated software enabling end-to-end processing.
Davies’ team of insurance experts will leverage its life, annuity and voluntary benefits program management, business analysis, systems integration, organizational change management and quality assurance competencies to ensure that clients can adapt to industry challenges and respond to changing trends, while having access to market-leading software.
Attendees to ITC Vegas can learn more about the Davies and CalcFocus partnership at the CalcFocus booth, 1676.
Russ Bostick, Managing Partner – Life, Annuity and Supplemental Health Segment, Davies Insurance Consulting said: “Our life insurance clients have always looked to us for guidance on how best to achieve their objectives using modern technology. Our partnership with CalcFocus now enables us to go one step further and deliver a quality solution that fits their policy administration needs. It enables us to deepen our engagement with clients to provide not only advisory services, but system integration and managed services as well.”
Kevin Walma, Chief Revenue Officer, CalcFocus said: “We are excited to leverage Davies’ global reach to bring Achieve to new clients. Insurers like the flexibility of Achieve, with individual components – eApplication, Billing and Collection, Policy Owner Services, Claims, and many others – able to be integrated with their existing technical landscape. Together with Davies’ expertise, we can help insurers achieve better business outcomes faster.”
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Media contact:
Sarah Allen, Head of PR, Davies
Email: sarah.allen@davies-group.com
Eoghan McGrane, US Press Officer, Davies
Email: eoghan.mcgrane@davies-group.com
About Davies
Davies delivers specialist professional services and technology solutions across the risk and insurance value chain, including excellence in claims, underwriting, distribution, regulation & risk, forensic accounting, customer experience, human capital, digital transformation & change management. In February 2023 Davies announced it had simplified its operations and aligned the business across three operating units: Davies Global Solutions, Davies UK & Ireland, and Davies U.S. Davies has an 8,500 strong team of professionals operating across 20+ countries, including the UK & the U.S., with headquarters in the City of London. Davies’ investors are BC Partners, HGGC, AIMCo (acting on behalf of certain of its clients), and Davies’ employees following BC Partners majority investment in March 2021, HGGC’s investment in January 2017 and AIMCo’s investment in January 2019. Over the past ten years Davies has grown its annual revenues more than 25-fold, invested heavily in research & development, innovation & artificial intelligence (“AI”), platform integration & underlying business systems, colleague development, and client service. Today the group serves more than 1,700 insurance, financial services, public sector, and other highly regulated clients. In the past year Davies has added more than 200 new accounts to its organic platform. In addition, Davies has successfully broadened and deepened its operations and digital capabilities via targeted acquisitions. 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, Asta, IRS, Sionic, Merlinos, BVS, Worksmart, ProAdjust, Johns Eastern, ClaimPilot, MVP Group, Afirm, Ortac Underwriting Agency’s (“Ortac”) insurance management services portfolio, American Claims Management, Preferred Governmental Claims Services, USIS, ICA, MDD and Shoreside Law. More information is available at www.davies-group.com.
About BC Partners
BC Partners is a leading investment firm with over €40 billion in assets under management across private equity, private debt, and real estate strategies. Established in 1986, BC Partners has played an active role for over three decades in developing the European buy-out market. Today BC Partners integrated transatlantic investment teams work from offices in Europe and North America and are aligned across our four core sectors: Healthcare, TMT, Business Services & Industrials, and Consumer. Since its foundation, BC Partners has completed over 126 private equity investments in companies with a total enterprise value of over €160 billion and is currently investing its eleventh private equity buyout fund. For more information, please visit www.bcpartners.com.
About HGGC
HGGC is a leading middle-market private equity firm with $4.3 billion in cumulative capital commitments. Based in Palo Alto, Calif., HGGC is distinguished by its Advantaged Investing approach that enables the firm to source and acquire scalable businesses through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Over its history, HGGC has completed more than 130 platform investments, add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of nearly $22 billion. More information, including a complete list of current and former portfolio companies is available at www.hggc.com.
About Alberta Investment Management Corporation (“AIMCo”)
AIMCo is one of Canada’s largest and most diversified institutional investment managers with more than C$115 billion of assets under management. AIMCo was established on January 1, 2008, with a mandate to provide superior long-term investment results for its clients. AIMCo operates at arms-length from the Government of Alberta and invests globally on behalf of 31 pension, endowment and government funds in the Province of Alberta. AIMCo’s head office is located in Edmonton, Alberta, with additional offices located in Toronto, London, and Luxembourg. AIMCo’s Private Equity team comprises a dedicated group of experienced investment professionals and manages a private equity allocation of approximately C$6.0 billion. More information is available at www.aimco.alberta.ca.
About CalcFocus
CalcFocus was founded in 2014 by a group of insurance technology veterans in response to seismic changes in the life and annuity industry landscape. CalcFocus Forecast Illustration and Achieve Administration products are cloud-hosted web services to augment or replace selected legacy illustration and policy administration functionality; and CalcFocus services may be orchestrated to become a comprehensive enterprise policy administration and illustration platform. The CalcFocus platform was designed with a pragmatic approach to configurability and a dogmatic approach to quality.
In 2023, the CalcFocus’ Forecast Illustration System won the Advanced Technology award and was placed in the Luminary Quadrant in Celents North American Illustration Systems Report, indicating the product excels in both Technology and Breadth of Functionality. The Achieve Policy Administration System also won the Advanced Technology Award in the same year.
