Primary buys up national insurance inspections provider
The US holding company of Bermuda-based insurance distribution organisation Primary Group Limited has acquired a national provider of property and casualty insurance inspections.
Primary Group Incorporated has purchased 51 per cent of the Georgia-based Site Inspections with an option to acquire the remaining shares at a later date.
Site Inspections offers insurance and reinsurance customers the ability to order, receive and archive inspections in a web environment www.siteinspections.com.
Greg Hall, who assumes the role of President and CEO, said that the database management and distribution capabilities of the Site Inspections model will enable the company to build a pre-eminent inspection business, as well as to provide a proven platform on which to develop other online insurance products and solutions.
Mr. Hall said: ?This is a true e-commerce solution which will enable the insurance industry to more effectively manage their risk portfolios.?
In a media statement the company said ?The unique patent pending process enables loss control data elements to be captured in a database environment, allowing for superior information management capabilities and data mining activities.?
Charles Norton-Smith, President and CEO of Primary Group Incorporated said: ?As we create a coherent business to distribute insurance products in North America, we constantly look to differentiate ourselves from others in the field; Site Inspections has a very impressive technical and commercial model that will be a clear benefit to our other businesses and will also bring value to our risk-bearing partners.?
