Sedgwick, a portfolio company of Carlyle Group, Stone Point Capital and Caisse de dépôt et placement du Québec, has acquired G&E Enterprises, a software-as-a-service company. No financial terms were disclosed. Memphis-based Sedgwick is a provider of technology-enabled risk, benefits and integrated business solutions.
MEMPHIS, Tenn., Jan. 15, 2020 /PRNewswire/ — Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, today announced its acquisition of G&E Enterprises. G&E Enterprises, whose primary product, software-as-a-service offering T&M Pro, is a premier billing and data management system for insurance restoration contracting.
The T&M Pro software will help enhance Sedgwick’s services by providing stronger commercial property support, estimate review processes and mitigation and reconstruction bill review.
The software also speeds up payments to insurance restoration contractors and gives carriers greater visibility into claims. Through the integration of this software, both carriers and contractors will now have greater transparency of restoration costs by sharing real-time and expense invoices on commercial losses.
“This acquisition is especially exciting for us, as the technology we are gaining access to will be revolutionary in processing claims,” said Scott Richardson, executive vice president of operations at Sedgwick. “Real-time data and information will drive greater transparency throughout the entire claims process and result in more accurate claim costs. This will create a new standard in the industry, and we look forward to the benefits it will bring to our clients.”
T&M Pro is designed to bill time and material, rate and material, cost plus and/or a combination of these methods to complete complex projects with ease. The program measures the exact usage of all components of a job in their separate and multifaceted measurements, meaning it gives a more accurate cost of a claim and provides daily, real-time representation of what is happening on the job site.
As part of the acquisition, the colleagues who comprise G&E Enterprises will join the Sedgwick team which will work to unify the service offerings under the Sedgwick name.
“T&M Pro is one of the few software solutions for accurately reviewing invoices related to large-loss and indemnity claims adjusting services,” Greg Dillon, G&E Enterprises founder said. “Joining forces with Sedgwick we will focus on leveraging this software in solution for clients.”
This acquisition and adaption of the software will help provide commercial property support to Sedgwick, improve upon all previous support, increase estimate review processes for Sedgwick’s loss adjusting services and mitigate bill review as the software scans for waste, abuse and fraud.
Sedgwick is a leading global provider of technology-enabled risk, benefits and integrated business solutions. We provide a broad range of resources tailored to our clients’ specific needs in casualty, property, marine, benefits and other lines. At Sedgwick, caring counts®; through the dedication and expertise of more than 27,000 colleagues across 65 countries, the company takes care of people and organizations by mitigating and reducing risks and losses, promoting health and productivity, protecting brand reputations, and containing costs that can impact the bottom line. Sedgwick’s majority shareholder is The Carlyle Group; Stone Point Capital LLC, Caisse de dépôt et placement du Québec (CDPQ) and other management investors are minority shareholders. For more, see sedgwick.com
About G&E Enterprises
G&E Enterprises is a software as a service company tailored to meet the specific needs of the construction and property loss industries. G&E Enterprises has designed and developed the industry’s leading Time and Material Estimating and Billing system, which delivers accurate, consistent, and transparent estimate and billing packages for their clients. Today the T&M Pro Suite includes T&M Pro, T&M Estimator, T&M Go and T&M Flow.