Davies, a specialist professional services and technology business, has acquired TriPlus Service Inc, a long-term care insurance third party administrator (TPA) based in Massachusetts.
TriPlus provides its long-term care carrier clients with claims and policy administration management solutions as well as actuarial and claims consulting.
Under the deal, TriPlus will join Davies’ Claims Solutions business in the U.S., enabling Davies to widen its claims and administration offering to include long-term care. TriPlus CEO Peter Lucas will continue to lead the business and report to U.S. Claims Solutions CEO Matt Button. All TriPlus employees will continue in their roles as Davies employees.
In September 2019, Davies announced its first major U.S. deal with the acquisition of Frontier Adjusters Inc, a multi-line independent claims adjusting provider, closely followed in October 2019 by Alternative Service Concepts LLC, a workers’ compensation and property and casualty TPA.
These deals enabled the group to provide its insurance clients with multi-line claims solutions in the U.S. and Canada in addition to its established operations in the U.K. and Ireland.
The acquisition of TriPlus marks Davies’ fifth acquisition of 2020, following the acquisitions of: Keoghs, an insurance focused law firm, which was announced in January and completed earlier in March; Codebase8, an automation and digital solutions provider to insurance and other highly regulated markets; Citadel & Cedar Consulting, a captive management and consulting businesses; and ContactPartners, a specialist cloud application provider.
Globally, Davies has more than 4,000 colleagues with operating centers across the U.K., Ireland, Bermuda, the U.S. and Canada. The business delivers professional services and technology solutions across the risk and insurance value chain, including in claims, underwriting, distribution, regulation, customer experience, human capital, digital transformation and change management.
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