Sedgwick CMS to Acquire Investigative Specialist Factual Photo
MEMPHIS, Tenn. and NAPERVILLE, Ill., Oct. 26 /PRNewswire/ -- Sedgwick Claims Management Services, Inc. (Sedgwick CMS) and Factual Photo, Inc. (Factual Photo) announce an agreement whereby a subsidiary of Sedgwick CMS will acquire the operations of Factual Photo. Closing is scheduled for November 1, 2010. Sedgwick CMS is the largest independent North American provider of claims and productivity management services. Factual Photo, a national provider of investigative services for employers, insurers and claims management professionals, specializes in workers' compensation, disability and other employment-related claims. Factual Photo will continue to operate under the direction of its established leadership group.
Sedgwick CMS is acquiring Factual Photo as a step in the creation of a comprehensive, integrated solution for the detection, investigation and prevention of fraudulent claims. Prevention of claims fraud is a matter of great concern to employers nationwide. The Factual Photo team of approximately 140 investigative consultants and other specialists will bring skills and experience to Sedgwick CMS that are critical to addressing this challenge. These new colleagues will be engaged on three different fronts:
- As Factual Photo, they will continue to provide independent, outsourced surveillance, investigative and training services for employers, insurers and independent claims management organizations using the latest in live surveillance methods, technology, social network monitoring, and communications and reporting systems.
- As members of the internal Sedgwick CMS fraud prevention resource group, they will offer Sedgwick CMS clients advanced in-house options for customized, calibrated responses to potentially fraudulent claims. Clients will benefit from right-level remedies that can be less costly and more convenient than a referral to an outsourced investigative firm, and cases that do require assignment for full-scale surveillance can be pre-qualified with a high level of assurance.
- As key contributors to a Sedgwick CMS product development initiative, they will work with Sedgwick CMS specialists in data analytics, technology, process design, claims management and other areas to build a comprehensive, integrated fraud prevention solution that offers our clients case outcomes, cost containment results, and demonstrated ROI not currently provided by the industry.
"We have always been proud to serve our clients with outstanding techniques, tools and people," said Factual Photo President George S. Oliver. "Our relationship with Sedgwick CMS will provide additional resources for the expansion of our investigative capabilities and technology; and they share our commitment to training, equipping and licensing the industry's best professionals. We can also help shape the next generation of advances in insurance investigation through our engagement with the total Sedgwick CMS fraud prevention strategy."
"George Oliver and his colleagues exemplify best practices and high professional standards in the sensitive areas of surveillance and special investigations," said Sedgwick CMS President and CEO David A. North. "They have built an industry-wide reputation for delivering accurate, timely information that helps assure fair claims outcomes for all parties. Sedgwick CMS brings to the table our record of innovation, advanced claims information systems, and four decades of experience in addressing the priorities of risk managers. We see this acquisition as an opportunity to enhance fundamentally the value and scope of fraud prevention services for Sedgwick CMS clients."
About Factual Photo
Since 1994, Factual Photo, Inc. has been dedicated to merging the many facets of investigation to offer its clients a complete array of premier services designed to help determine the validity of insurance claims. Factual Photo is a proven national leader in the investigative services industry emphasizing surveillance and special investigation services as well as training seminars in workers' compensation, employee benefits and other employment-related matters. Factual Photo (http://www.factualphoto.com) is licensed to operate in the 48 contiguous states.
About Sedgwick CMS
Sedgwick Claims Management Services, Inc. is the leading North American provider of innovative claims and productivity management solutions. Sedgwick CMS and its affiliated companies deliver cost-effective claims administration, medical management, risk consulting and related services to clients through the expertise of 6,600 colleagues in a hundred and thirty offices in the U.S. and Canada. The company specializes in workers' compensation; disability, FMLA and other employee absence; general, automobile and professional liability; and warranty and credit card claims services as well as Medicare compliance solutions. Sedgwick CMS and its affiliates design and implement customized programs based on proven practices that meet client needs. For more see http://www.sedgwickcms.com.
Contact: Frank J. Huffman, Senior Vice President, Corporate Communications, 901-415-7548, email@example.com.
SOURCE Sedgwick Claims Management Services, Inc.