CoreLogic has completed its acquisition of Next Gear Solutions, a market leader in digital workflow platforms and solutions for the property restoration industry, according to a press release.
CoreLogic said the combination of Next Gear and CoreLogic’s Claims Connect platforms, gold standard property data and analytics, and tools provides insurance carriers and contractors a compelling choice to enhance and transform the claims experience for policyholders.
“The entire CoreLogic team is excited to join forces with [Next Gear Solutions founder and CEO] Garret [Gray] and the Next Gear team as we expand our range of innovative best-in-class solutions for the restoration industry, insurance carriers and other market participants that collectively help millions of people to protect and restore the homes they love,” CoreLogic President and CEO Frank Martell said in a release.
Next Gear Solutions, headquartered in Oxford, Miss., is the leading workflow platform provider for property restoration. Next Gear Solutions is the platform property insurers and restoration contractors trust to modernize their claims handling workflow, the release stated.
Next Gear’s cloud-based suite of market leading products, such as DASH, SettleAssist, and MICA, have transformed the way property insurers and contractors collaborate, driving better outcomes for those experiencing a property loss.
“The combination of CoreLogic and Next Gear introduces a more compelling alternative to the status quo,” Gray said. “We invite those seeking strategic agility to consider the breadth of our entire platform.
“We are committed to providing leading edge solutions that promote customer choice and will continue to work with all industry participants to ensure secure and customer-directed flow of data, so the market has expanded options,” Gray added.
Jefferies LLC served as exclusive financial advisor to Next Gear Solutions.
“The combination of Next Gear and CoreLogic creates a leap forward in claims handling technology, bringing customer focus, innovation and more optionality for all property insurance ecosystem stakeholders,” Martell said. “There has never been a greater focus on transforming critical workflows in the insurance ecosystem and CoreLogic is committed to continuing to invest heavily in expanding our state-of-the art platforms and digital solutions that will drive innovation and make our customers more successful.”