M&A, Mergers and AcquisitionsTwo companies that provide various services and products in insurance-related areas including risk management compliance and claims have made acquisitions.

The first, Origami Risk in Chicago, said it has acquired Claimwire for an undisclosed price.

Origami provides software and services to the risk and insurance industry, and Claimwire provides the insurance industry automated workers compensation forms, compliance resources and regulatory information. The idea is that Origami’s expertise and support will help preserve and expand Claimwire’s products and give its own customers more options.

Claimwire will become a wholly owned Origami Risk subsidiary and continue its clientele of third-party administrators, risk managers and software vendors. The firm’s employees and CEO Steve Schmutz will remain in their respective roles.

The second, Annapolis, Md.-based iJET International said it has acquired red24 Plc., a U.K. public company. Neither side disclosed financial terms. Here, the combined company will provide enhanced services.

Launched in 1999, iJET provides a global risk database on more than 191 countries and cities for multinational organizations to help them assess threats that could affect their business operations and employee safety. Red24, a U.K. public company, has more than 50 insurer clients and provides risk management services that address areas including travel safety, kidnap for ransom and extortion, food and non-food crisis management and recall, cybersecurity, identify theft and fraud assistance, corporate investigations and employee background screening.

Sources: iJET, Origami Risk

Topics Mergers & Acquisitions Numbers