Davies, a specialist professional services and technology business, serving insurance and highly regulated markets, has acquired MVP Advisory Group, LLC, the consulting business specialising in advisory & transformation projects for the property & casualty and life & health insurance markets.
Following the acquisition, MVP will join Davies’ global Consulting division led by Consulting & Technology CEO, Mark Grocott.
Sherman & Company advised MVP on the transaction.
At the same time, Managing Partners of MVP, Russ Bostick & Donn Vucovich will continue to lead the business. All MVP employees will also continue to serve in their roles within Davies whilst continuing to work closely with MVP’s existing contractor network of subject matter experts.
With headquarters in Chicago, Illinois, MVP’s insurance & technology specialists manage projects in all areas of insurance, including underwriting, policy administration, claims management, client experience, finance, compliance, data warehousing, data, analytics, human resources, and information technology.
By creating partnerships which complement and leverage each client’s existing capabilities, MVP provides deep expertise, including transformational roadmaps, programme management, quality assurance, data management, and analytic and digital transformation and engagement.
Over the last few years, Davies has diversified and deepened its consulting & technology capability to provide customer experience, resourcing and learning solutions, as well as data & speech analytics, robotic process automation, legacy platform modernisation and product development for its 1,200+ insurance and highly regulated clients.
In 2021 the firm expanded its international footprint by acquiring Sionic.
Moreover, through a combination of organic and M&A growth, Davies has established and expanded its operations in the US. The firm currently offers a full range of TPA and loss adjusting solutions across all 50 states, as well as captive management, auditing, actuarial, subrogation, excess claims management and risk & inspection solutions.
“I’m delighted to welcome Russ, Donn and the entire MVP team to Davies. Bringing a wealth of knowledge & talent in delivering advisory services & transformation projects exclusively for the insurance market, the business is a great addition to our growing consulting platform,” said Dan Saulter, Group CEO, Davies.
“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. MVP’s expertise & 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.”
“I’m very pleased that MVP is becoming part of Davies which has a shared focus on innovation and digital transformation to guide insurers through every step of any complex transformation project. I look forward to working with Dan, Mark and the wider Davies team to develop and strengthen our highly specialised insurance operations & technology consulting services for our clients,” added Russ Bostick, Managing Partner, MVP.