Davies acquires MVP Advisory Group | Insurance Business America
Specialist professional services and technology business Davies has acquired Chicago-based MVP Advisory Group, a consulting business specializing in advisory and transformation projects for the property & casualty, life, and health insurance markets.
MVP Advisory Group bolsters Davies’ offering to insurance markets with its insurance and technology specialists, who manage projects in all areas of the industry from underwriting and claims management to client experience, compliance, finance, data analytics, and information technology. MVP Advisory Group’s expertise also includes program management, quality assurance, and analytic and digital transformation, all of which leverage its clients’ existing capabilities.
MVP will join Davies’ global consulting division under the leadership of consulting and technology CEO Mark Grocott. MVP Advisory Group’s managing partners Russ Bostick and Donn Vucovich will continue to lead the business within Davies, working closely with the group’s existing contractor network. All MVP Advisory Group employees will likewise continue in their roles within Davies.
Davies strengthens its global consulting and technology capability through the acquisition of US-based insurance specialist consulting business, MVP Advisory Group https://t.co/BdzW8vQ8n8 https://t.co/VxvK2lQbQJ pic.twitter.com/X2ar0QNqbZ— MVP Advisory Group (@MVPAdvisoryGrp) January 30, 2023
The acquisition falls in line with Davies’ recent strategy, which has focused on diversifying and deepening its consulting and technology capability to provide customer experience, process automation, and legacy platform modernization for its base of over 1,200 insurance and highly regulated-market clients. In 2021, Davies supported its banking and insurance clients with better international technology transformation and digitalization, compliance, and risk management capacity through the acquisition of Sionic.
With its acquisition of MVP Advisory Group, Davies now offers a full range of TPA and loss adjusting solutions across all 50 states of the US, as well as captive management, auditing, actuarial, subrogation, excess claims management, and risk and inspection solutions.
“I’m delighted to welcome Russ, Donn, and the entire MVP team to Davies,” said Davies group CEO Dan Saulter, commenting on the transaction. “Bringing a wealth of knowledge and talent in delivering advisory services and transformation projects exclusively for the insurance market, the business is a great addition to our growing consulting platform.”
Saulter observed that the insurance landscape continues to evolve quickly. “With new entrants to the market disrupting traditional operating models, it’s become essential for insurers who want to remain relevant and compete to invest in digital transformation,” he said.
“MVP’s expertise and commitment to the insurance market, coupled with its strong partnership approach, has helped many clients successfully navigate this evolution by leveraging the power of digital technology, and I’m excited to now be able to offer this talent to our growing client base around the world.”
Sherman & Company advised MVP on the transaction.