Advent Insurance Management establishes presence across US
Support services provider Advent Insurance Management has established a nationwide US presence through a joint venture with claims adjuster AmeriClaim.
Advent Insurance Management, based in Delaware, was launched in July to help delegated authority businesses address a number of issues caused by increased regulatory and operational pressures.
Advent has a 50.1 percent controlling interest in the new business as part of the formal partnership with AmeriClaim. It will give support to coverholder business from London and will also provide consultancy services to AmeriClaim’s clients.
Paul Bermingham, executive director of 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 of AmeriClaim, said: “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 third-party administrator (TPA), managing general agent (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.”
