Claims Business: Charles Taylor, Friss and Matterport

Charles Taylor Acquires Syndicate Claim Services

London-based Charles Taylor Adjusting, a provider of insurance services, claims solutions and technology platforms to the global insurance market, has acquired Syndicate Claim Services Inc., an independent adjusting and claims services business, based in Indianapolis, Indiana.

Syndicate provides insurance clients with loss adjusting, claims and catastrophe services throughout the United States.

Syndicate began as a family-owned business in 2006, and now provides tailored claims services and appraisal, umpire, dispute resolution, and litigation support services to a variety of commercial and residential property and liability/casualty insurers, TPAs and self-insured entities, Charles Taylor said in a press release.

The company provides both daily claim and catastrophe services for commercial, industrial, retail and specialty commercial markets, as well as residential insurance markets, including condominium, farm and ranch properties.

Syndicate joins the more than 3,000-strong team of professionals at Charles Taylor globally.

This acquisition follows Charles Taylor’s acquisitions in the U.S. of Aegis Corporation in January 2021 and SBSA in September 2020; and the acquisition of the Cosulich Group in March 2021.

Friss Acquires Terrene Labs

Friss, a Dutch tech company known of its fraud detection software, has acquired Terrene Labs, a risk analysis software provider based in Mason, Ohio.

Friss said the new partnership allows commercial lines underwriters to access actionable insights within five seconds, “replacing a disjointed manual and limited enrichment process that previously took up to a week and delayed policies for quality customers.”

Terrene products will join the FRISS product suite as Underwriting Insights, Friss said in a press release. Customers will have access to screen submissions, policies, endorsement, renewals, book rollovers and claims using a variety of data sources, including images and social networks.

The acquisition follows Friss’ announcement of record annual earnings. The company said revenues grew by 58% as the company doubled its client base in North America.

Friss is headquartered in Utrecht, The Netherlands and has offices in Chicago; Paris; Cologne, Germany and Madrid, Spain.

Matterport Matches its 3-D Models With Xactimate

Matterport, a Silicon Valley tech company that converts images into three-dimensional model, released a product that can enter visual documentation into Verisk’s Xactimate software.

Matterport said in a press release that its TruePlan product generates accurate sketches of any space, using 3-D models scanned by customers to visually document damage. The product eliminates the need to manually sketch spaces.

The company, based in Sunnyvale, Calif., said Xactimate is widely used by claims adjusters to calculate building damage, estimate repair and rebuilding costs and generate property loss estimates to prepare settlement offers. Many restoration companies use Matterport for visual documentation instead of taking photos and video.

Trueplan will generate an Xactimate-compatible file from those scans with one click, the company said. An accurate as-built sketch of a property is delivered within 48 hours, Matterport said.