Delegate claims reinvented | Advent Claims

ADVENT INSURANCE MANAGEMENT ESTABLISHES NATIONWIDE US PRESENCE

Advent Insurance Management (Advent), the specialist provider of support services for delegated authority underwriting businesses, today announces it has established a presence across multiple locations in the US.

Advent Insurance Management, part of specialist insurance consulting and outsource services provider Advent Solutions Management, was launched earlier this month to help delegated authority businesses address the growing issues created by increased regulatory and operational pressures.

The Delaware-based business, Advent Insurance Management LLC, has been created following a joint venture agreement with Oklahoma -headquartered AmeriClaim; an expert claims adjusting business with over 200 locations throughout North America, which provides claims handling services for accounts written in Lloyd’s of London. Advent holds a 50.1% controlling interest in the new business as part of the formal partnership and will focus on supporting coverholder business originating from London and providing consultancy services to AmeriClaim’s clients.

Clients of both businesses will be offered access to Advent’s proprietary software, which provides transparency between all parties during the transaction process while also capturing the underlying information required for regulatory purposes.

Paul Bermingham, Executive Director, Advent Insurance Management said: “I am extremely pleased to announce Advent’s joint venture with AmeriClaim. Both businesses are closely aligned, sharing a similar entrepreneurial, customer-focused outlook and vision. This has helped to create a template for further partnerships which Advent is seeking in key locations internationally with other high calibre businesses. Establishing a presence in the US is a milestone achievement and the partnership with AmeriClaim offers the perfect combination of broad US distribution and London market expertise.”

Tom Richards, Director,  AmeriClaim added: “I am delighted to announce that an agreement has been reached between AmeriClaim and Advent, which will be hugely beneficial for both parties and our respective clients. Incoming regulatory requirements in London, while extremely positive for consumers and our industry, also pose significant challenges for our TPA, MGA and coverholder clients as many are small businesses. Advent’s insight and expertise, which will be available to clients across our entire national network, will be of enormous value in helping them to comply with the new regulations, while simultaneously enabling them to optimise operational performance.”