Memphis, Tenn.-based claims services provider Sedgwick CMS has acquired Naperville, Ill.-based investigative services firm Factual Photo. Terms of the deal, which is expected to close November 1, were not disclosed.
Factual Photo, which specializes in workers' compensation, disability and other employment-related claims, will continue to operate under the direction of its established leadership group, according to a release. Sedgwick's goal with the buy is to create a comprehensive, integrated solution for the detection, investigation and prevention of fraudulent claims, the company says.
Factual employees will "work with Sedgwick CMS specialists in data analytics, technology, process design, claims management and other areas to build a comprehensive, integrated fraud prevention services that offers case outcomes, cost containment results, and ROI," the statement reads.
"[Factual has] built an industry-wide reputation for delivering accurate, timely information that helps assure fair claims outcomes for all parties," Sedgwick CMS president and CEO David North adds in the statement. "Sedgwick CMS brings to the table our record of innovation, advanced claims information systems, and four decades of experience in addressing the priorities of risk managers. We see this acquisition as an opportunity to enhance fundamentally the value and scope of fraud prevention services for Sedgwick CMS clients."
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio