South West-based specialist insurance claims handling provider, Claims Consortium Group, has announced a completed deal with Stream Claims Services Ltd in a transformative move that will lead the way for the UK insurance claims market.
Claims Consortium has acquired the trading business of the multi-service loss adjusting and claims management business, Stream Claims Services, whose main office is in Cardiff. The move responds to market demand for enhanced capacity, increased choice and smarter solutions for larger insurance claims.
Established in 1996 by entrepreneur Jeremy Hyams, Claims Consortium has grown from three to over 270 employees. Today, from its HQ in Taunton, Claims Consortium is one of the industry’s leading providers of property claims handling and claims workflow technologies. The acquisition of Stream Claims Services supports the Group’s pioneering growth strategy.
Mr Hyams said: “This acquisition builds on our highly successful and innovative claims handling model and puts Taunton firmly on the map as we welcome Stream to the Group. We are hugely passionate about being based in the county town of Somerset. Through this acquisition we are able to expand our range of industry-leading services and this growth will enable us to continue to invest in the region.”
Stream will become Claims Consortium Adjusting, joining the existing Adjusting arm of Claims Consortium Group. Nick Turner, Professional Services Director at Claims Consortium, joins the Board of Directors overseeing all operations across the group. Jim Pittman, current MD at Stream will report into Nick.
Mr Pittman added: “We are thrilled to be joining the Claims Consortium Group. Under the umbrella of a large and stable company we will have a new platform for growth. The acquisition will provide increased access to industry-leading loss adjusting expertise, combined with the breadth of our claims handling, supply chain capability and superior technology for our customers across the UK.”