Morgan Partners, an independent investment bank serving the financial technology sector, today announced its role as exclusive financial advisor to Genpact (NYSE: G) on its acquisition of BrightClaim and their associated company National Vendor. Both companies are leading providers of integrated claims solutions to the U.S. property and casualty (P&C) insurance market. This is Morgan Partners' second M&A transaction in the P&C insurance claims space in the last five months.
The acquisition marries domain expertise with advanced technologies to fundamentally change how insurers manage the claims process, allowing carriers to create a seamless claims experience for their customers. Terms of the deal were not disclosed.
"We work with Morgan Partners in our insurance acquisition efforts because of their understanding of the industry and relationships throughout the insurance sector," said Sameer Dewan, Senior Vice President, Insurance at Genpact. "We are pleased that this partnership has resulted in our acquisition of BrightClaim."
Further details about the transaction can be found here.
About BrightClaim
BrightClaim LLC is an Atlanta-based company that provides end–to-end claims solutions to the Property and Casualty Insurance industry for Auto and Property type claims. They provide centralized claims solutions combined with field resources to deliver the highest level of customer service, helping insurance carriers streamline claims processes and better manage outcomes. An affiliate of Century Equity Partners, a lower-middle market private equity firm, was an investor in the organization prior to the acquisition. For more information on BrightClaim, visit www.brightclaim.com or for National Vendor visit www.nationalvendor.com.
About Genpact
Genpact (NYSE: G) is a global professional services firm focused on delivering digital transformation for our clients, putting digital and data to work to create competitive advantage. We do this by integrating lean principles, design thinking, analytics and digital technologies with our domain and industry expertise to deliver disruptive business outcomes – an approach we call Lean DigitalSM. For two decades, first as a General Electric division and since 2005 as an independent company, we have been passionately serving our clients. We generate impact for clients from the Fortune Global 500 and beyond, and employ over 77,000 people in more than 20 countries, with key offices in New York City, Palo Alto, London, and Delhi. For additional information, visit www.genpact.com. Follow Genpact on LinkedIn, Twitter, YouTube, and Facebook.
