Team One Adjusting Services has finalised a merger agreement with independent insurance adjustment agency Southwest Adjusters (SWA) to create a joint venture (JV).
Known as Team One Insurance Services, the JV will have headquarters in Irving, US, with offices in Dickinson and Hot Springs.
The JV will also receive financial and strategic support from US-based private equity company Longshore Capital Partners.
This partnership is part of Team One’s plan to expand its services offerings and geographical footprint across the independent claims adjusting sector.
The parties intend to create a wider platform that will boost their expertise in serving insurance carriers throughout the US, with added corporate resources and a broader service suite and enhanced scale.
The services comprise catastrophe, daily property, desk adjusting, agricultural, speciality losses and appraisal, among others.
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Team One’s Touchpoint Claims Management System provides insurance carriers with quick response and cycle times, thereby enhancing outcomes for policyholders and improving the claims management process.
Team One executive vice-president Jeff Martin said: “The combination of these businesses gives us a meaningful platform for growth, both for our carrier clients and the employees at Team One and SWA.
“Longshore’s backing enables us to scale more quickly and efficiently than before and provides us with ample resources to continue to build our team. We are eagerly adding additional highly accomplished professionals as we further our pursuit of building the industry’s premier claims management organisation.”