Sedgwick going global with Cunningham Lindsey acquisitionPosted On: Apr. 17, 2018 2:15 PM CST
Sedgwick Claims Management Services Inc. is going to be a global brand following its acquisition of London-based loss adjuster and claims management firm Cunningham Lindsey Group Ltd. and its subsidiaries and will rebrand most of its various divisions under the Sedgwick banner, Sedgwick President and CEO Dave North said on Tuesday.
The acquisition adds nearly 6,000 Cunningham Lindsey staff members in 65 countries to Sedgwick, for a total workforce of about 21,000, he said during a press conference at the Risk & Insurance Management Society Inc. annual conference in San Antonio.
“It’s in some ways daunting to think that it’s gotten to be that big, but really what we think about is so many different ways to take care of our customers,” he said. “The world has gone global. Every employer that we deal with has customers somewhere else in the world. They manufacture things somewhere else in the world. They sell their products somewhere else in the world. And for all of us in the industry on the claims side, our job is to take care of the risks that they have from their business relationships.”
“We are going to be a global brand,” he added. “That’s the big thing. We’ve done a lot of acquisitions over our history in the last 18 years and for most of those we’ve left the brands that are clients have known and trusted over time succeed. But now we’ve said, given where we are in the marketplace, given our reputation – and we’re fortunate enough to have earned that – we’re going to rebrand everything eventually as Sedgwick on a global basis. There will be a few exceptions, but mostly you’ll be seeing the Sedgwick brand on everything we do everywhere.”
Vericlaim and Cunningham Lindsey will be the first entities to migrate to the Sedgwick brand. “You’ll see that change almost instantaneously around the world,” he said. “There are some various businesses in some geographical areas where we may choose to keep a legacy brand, but the main brand that everybody knows will be Sedgwick.”
The Vericlaim and Cunningham Lindsey operations will migrate to a common loss adjusting platform,” Mr. North said.
“We are obtaining, with Cunningham Lindsey, a very robust global loss adjusting system, which we’re really excited about,” he said. “Risk managers … hunger for having a uniform set of data across their exposures worldwide. They may insure them locally, they may respond geographically – states or countries – to whatever the regulations are, but at some point they want to roll all that together and get a global picture of what the risk profile is.”
“The beauty of the way the platform exists with the acquisition of Cunningham Lindsey is we cover 65 countries around the world with hundreds of locations,” he added. “It allows us to say yes in almost every place. And even places where we may not have a location as a result of this deal, we’re geographically in the region so we can probably service that region from other offices or easily then expand into them.”
The integration of Cunningham Lindsey, considering the size of the acquisition, “will be fairly smooth,” he said. “We acquired a very talented company with talented people and a great customer base and that we’re going to integrate. We’re not trying to separate out or justify the costs by getting rid of human beings.”