Crawford & Co. disclosed it has acquired a majority interest in WeGoLook, an online and mobile collaborative economy platform based in Oklahoma.
Crawford, a provider of claims management products for insurance companies and self-ensured entities, agreed to pay $36.1 million for an 85 percent stake in WeGoLook. Both company boards approved the transaction, which is expected to close in January 2017.
WeGoLook, launched in 2009, provides on-demand field inspection and verification services. Its web and mobile platform enables more than 30,000 mobile workers known as “lookers” to collect and verify information. It also handles custom tasks for businesses and consumers.
Harsha Agadi, president and CEO of Crawford & Company, said in prepared remarks that he sees tremendous potential combining “WeGoLook’s innovative technology with Crawford’s global reach and client relationships.”
Agada noted that WeGoLook “handles anything from automotive and property inspections to support the insurance industry as well as a broad range of general commerce transactions and verification of internet-based purchases.”
These “cost-effective services will allow Crawford to unlock the large, underserved market for high frequency claims, reduce claim handling fees and help guard against fraud,” he added.
Source: Crawford & Co.