Business Moves

Maryland-based Restore Rehabilitation launched a national telephonic case management service for workers’ compensation payers.

Restore is a medical and vocational case management company focused on reducing the impact of workers’ compensation claims on injured workers, insurers, third-party administrators and employers.

Restore’s telephonic case managers, who are registered nurses with advanced credentials, contact injured employees immediately after an injury to assess medical status and medical needs, determine next steps, assist in identifying physicians and schedule appointments.

They facilitate, educate and communicate so injured employees receive needed care as quickly as possible. Services include obtaining job descriptions, guiding return-to-work plans, monitoring psychosocial issues, and continually updating adjusters, employers and other stakeholders.

A dedicated multi-lingual team of case managers and a person answers the phone between 8:30 a.m. and 8 p.m. eastern to avoid voice mail delays.

Guidewire Software, Inc., a provider of software products to Property/Casualty insurers, announced that it has agreed to acquire EagleEye Analytics, a provider of SaaS-based predictive analytics products specifically designed for Property/Casualty insurers. The transaction is expected to close imminently.

With this acquisition, Guidewire will enable its customers to apply predictive analytics to make better decisions across the insurance lifecycle. Guidewire will support the complete predictive analytics process including data preparation, model building, operational deployment, performance monitoring and analytic feedback.

EagleEye’s products will be renamed Guidewire Predictive Analytics and will be available as part of Guidewire’s Data and Analytics product family. Two predictive analytics products will be available:

• Guidewire Predictive Analytics for Claims addresses claims management decisions such as claim severity potential, claim routing and assignment and identifying claims with litigation/subrogation potential.
• Guidewire Predictive Analytics for Profitability addresses underwriting and distribution objectives such as accurate ratemaking and risk selection, underwriting cost reduction, maximizing customer lifetime value and portfolio optimization.

EagleEye has more than 30 insurance customers in North America and Europe. Nine of these customers are also existing Guidewire customers. The company is headquartered in Columbia, South Carolina with offices in London, UK. A privately held company, EagleEye is backed by FirstMark Capital in New York.

Guidewire Predictive Analytics will be available to insurers in the Americas, Europe, Australia and New Zealand, either standalone or to complement Guidewire PolicyCenter or ClaimCenter.

Guidewire does not expect this transaction to have a material impact on revenue or non-GAAP profitability in the third quarter or full year fiscal 2016.

Swiss Re Corporate Solutions announced the completion of its acquisition of IHC Risk Solutions, LLC from Independence Holding Company.

With this acquisition, previously announced on January 5, 2016, IHC Risk Solutions will immediately adopt the Swiss Re Corporate Solutions brand.

IHC Risk Solutions’ former president, Mike Kemp, will lead the North America Accident & Health Business Unit of Swiss Re Corporate Solutions.

Gobal loss adjusting and claims management firm, Cunningham Lindsey, announced the expansion of its global Third Party Administration (TPA) service inTrust into the United States.

inTrust provides clients with a single point of entry to a TPA service where claims are centrally reported and managed globally for multiple classes of business. This division offers full program, management information and payment management for multiple currencies with access to live claims data and customized reporting via a self-service portal.

The U.S. product launch builds upon the existing success of this service currently managed by dedicated desktop teams across 10 hubs on five continents that deliver tailored TPA services 24/7 for claims spanning property, casualty, marine, motor and accident and health.

Response Team 1 has expanded and strengthened its nationwide presence through the acquisition of one national and two regional property restoration firms, and securing significant investment support from Nautic Partners, LLC based in Providence, R.I.

Response Team 1, a property restoration company, serves 30 states from 49 locations. With its resources and capabilities, the company has the capacity and expertise to quickly restore any single family residence or large commercial building, or renovate any multifamily property coast-to-coast.

The companies purchased by Response Team 1 are Venturi Restoration, Philadelphia; Emergency Reconstruction, Raleigh, N.C.; and JFS Construction Group, Van Nuys, Calif. Each provides a wide range of property restoration services, often in response to weather events and other disasters.

Venturi Restoration is a national restoration and remediation firm serving the multifamily industry from 17 offices in 15 states located throughout the United States.

Emergency Reconstruction is a property restoration company serving Raleigh, N.C. and Fayetteville, N.C.

JFS Construction provides residential and commercial restoration services in the southern California region.

The Nautic investment complements those from Response Team 1 founders Goense and Erik Bloom, vice chairman. Nautic Partners is a private equity firm focused on investments in middle market companies across a range of industries that includes healthcare, industrial products and outsourced services.