CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today announced the completion of its acquisition of Next Gear Solutions, a market leader in digital workflow platforms and solutions for the property restoration industry. The combination of Next Gear and CoreLogic’s Claims Connect platforms, gold standard property data and analytics, and tools provides insurance carriers and contractors a compelling choice to enhance and transform the claims experience for policyholders.
“We invite those seeking strategic agility to consider the breadth of our entire platform. We are committed to providing leading edge solutions that promote customer choice and will continue to work with all industry participants to ensure secure and customer-directed flow of data, so the market has expanded options.”
– Garret Gray, Founder and CEO of Next Gear Solutions
Read a full statement from Garret by clicking here.
Next Gear Solutions, headquartered in Oxford, Miss., is the leading workflow platform provider for property restoration. Next Gear Solutions is the platform property insurers and restoration contractors trust to modernize their claims handling workflow. Next Gear’s cloud-based suite of market leading products, such as DASH, SettleAssist, and MICA, have transformed the way property insurers and contractors collaborate, driving better outcomes for those experiencing a property loss.
“The combination of CoreLogic and Next Gear introduces a more compelling alternative to the status quo,” said Garret Gray, founder and CEO of Next Gear Solutions. “We invite those seeking strategic agility to consider the breadth of our entire platform. We are committed to providing leading edge solutions that promote customer choice and will continue to work with all industry participants to ensure secure and customer-directed flow of data, so the market has expanded options.”
Frank Martell, president and CEO of CoreLogic said, “The entire CoreLogic team is excited to join forces with Garret and the Next Gear team as we expand our range of innovative best-in-class solutions for the restoration industry, insurance carriers and other market participants that collectively help millions of people to protect and restore the homes they love.”
Martell added, “The combination of Next Gear and CoreLogic creates a leap forward in claims handling technology, bringing customer focus, innovation and more optionality for all property insurance ecosystem stakeholders. There has never been a greater focus on transforming critical workflows in the insurance ecosystem and CoreLogic is committed to continuing to invest heavily in expanding our state-of-the art platforms and digital solutions that will drive innovation and make our customers more successful.”
Jefferies LLC served as exclusive financial advisor to Next Gear Solutions.
CoreLogic, a leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy and protect their homes. For more information, please visit www.corelogic.com.
About Next Gear Solutions
Next Gear Solutions is the preferred partner of managed repair networks, franchisors, contractors, and insurance carriers looking to run a consistently smarter business. Its range of mobile job management, damage documentation, and estimate auditing tools are used by 8,700-plus restoration companies across North America and a majority of the nation’s 25 largest insurance carriers. To learn more about Next Gear Solutions, visit www.nextgearsolutions.com or follow Next Gear Solutions on LinkedIn.
Below is information originally shared by C&R on 9/14/21.
C&R has learned Next Gear Solutions has been acquired by CoreLogic. The official announcement is expected on Wednesday morning.
While official information about the deal has not been released yet, this acquisition could be a game-changer for the insurance restoration marketplace. With estimating platform Symbility already under the CoreLogic umbrella, this sale now positions CoreLogic to compete more directly against Verisk, parent company of Xactwae.
C&R will be working to connect with the major players in this deal tomorrow (Wednesday, Sept. 15) to get answers to the many questions that now revolve around this acquisition.
Keeping checking back for updates!