Next Gear + Accurence
Accurence and Next Gear are a natural fit. Both industry leaders, we’re now doing more together through a merger of our two companies that will better serve the insurance and restoration industries. Our strength in scoping tools and insurer guideline management combined with Next Gear’s leadership in contractor workflow solutions means even stronger solutions to help all stakeholders after a property loss.
Next Gear Solutions
Move strengthens interior claims position, extends reach to exterior
OXFORD, Miss., Sept. 5, 2019—Next Gear Solutions and Accurence announced today a deal to combine two leading companies in the property insurance tech space. Accurence—provider of SettleAssist, QualityAssist, ScopeAssist, and National Water Prime products—joins Next Gear and their software suite of DASH, MICA, LuxorCRM, and Moisture Mapper. This demonstrates both companies’ commitment to providing complete solutions for accurate property claims handling. It also reaffirms Next Gear’s position in water mitigation, as Accurence recently acquired the software division of National Water.
“This is an exciting moment for both companies,” said Garret Gray, CEO of Next Gear Solutions. “Jake Labrie cofounded Accurence, assembled a great team, and built very innovative solutions for claims stakeholders over the years. We’re excited to join forces with him and his team to create the most dynamic, proficient, and customer-focused team in the industry. One of our primary goals is to reduce the number of apps contractors have to learn by integrating these specialized systems into a simplified user experience. Contractors and carriers will see big things from this collaboration.”
“Our customers seek first-class solutions from partners that add value to their claims processes,” said Jake Labrie, previous President of Accurence, and now Next Gear’s President of Carrier Solutions. “Together, our passionate teams continue to listen to and lead the industry in that pursuit, ultimately delivering benefits to what matters most after a property loss—the policyholder.”
Next Gear Solutions
Stewart Lynn, Principal of Serent Capital, endorsed the merger, saying, “We have been privileged to partner with Garret and the Next Gear team these past three years and the Next Gear-Accurence combination underscores our continued belief in this dynamic team and the market opportunity to drive meaningful efficiency throughout the property claims workflow. We’ve studied the property claims restoration space for a number of years now and have yet to find as compelling a story as a combined Next Gear Solutions and Accurence offering.”
About Next Gear Solutions
Next Gear Solutions, based in Oxford, Mississippi, was formed in 2008 with a mission to take restoration companies paperless, automate their workflow, and bring efficiency to the entire business operation. Since 2009, Next Gear’s software suite has grown to include solutions for managed repair networks, franchisors, and insurance carriers, including products such as DASH, MICA, Moisture Mapper, and LuxorCRM. Next Gear is the leading technology solution for the restoration industry, addressing both contractor and carrier workflow needs through process automation. Next Gear serves the largest footprint of best-in-class restoration contractors in North America, as well as three of the top five property insurers.
Accurence is passionate about building smart property insurance solutions, leading the way in automated adjusting solutions. Accurence helps insurance adjusters and contractors confidently assess all homeowner peril types with its proprietary, patented technologies that automate the scope of repairs. Through mobile applications that integrate with major insurance carrier guidelines, the company delivers unprecedented efficiencies in insurance claims that build homeowner trust and drive consistently smarter business.
About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers' needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent helps growing businesses thrive. For more information on Serent Capital, visit www.serentcapital.com.
we've got answers
Who is Next Gear Solutions?
Next Gear Solutions is the leading platform for property restoration software, focused on revolutionizing the restoration industry and driving operational excellence. Learn more: www.nextgearsolutions.com/what-we-do.
What is happening?
Accurence has joined forces with Next Gear Solutions to create a stronger company in order to better serve the insurance and restoration industries. Technically an acquisition of Accurence by Next Gear, the deal is being treated as a merger in terms of continuity of operations for both companies. Management and personnel rosters are largely unchanged and current plans are to continue supporting the combined suite of software solutions.
Why do Accurence and Next Gear fit so well together?
We see this as an opportunity to consolidate two early movers and leaders in a compelling market. Contractors and carriers are evolving to build stronger partnerships—a trend previously seen in the automotive claims industry. We believe that Accurence’s strength in insurer guideline management combined with Next Gear’s category leadership in contractor solutions can uniquely provide more seamless and robust solutions to help all stakeholders after a property loss.
The market is seeking both proactive and reactive guideline management solutions that span the entire claim settlement workflow. This includes contractors assessing damages, adjusters finalizing estimates, auditors reviewing exceptions, and intelligent payment processing that wraps up the entire process.
What are the benefits for insurance carriers?
Having both interior and exterior scoping and auditing solutions available from a single vendor simplifies and streamlines the onboarding and management process for both corporate offices and for adjusters and agents in the field. Additionally, the combined business will have a broader set of customer perspectives to help us develop even more comprehensive solutions than we would have as separate companies.
What are the benefits for contractors?
Contractors will have access to an increased number of products, and experience greater efficiencies by reducing double-entry and simplifying their workflow.
MICA, Moisture Mapper, PrimePC, and PrimeContractor are all water loss products with similarities; what is Next Gear’s plan to make my life easier?
We recognize the market desire to streamline the contractor’s experience while at the same time keeping intact everything that’s important to each client. We currently do not have plans to discontinue any products as a result of this merger, and will take great care when considering future software consolidations.
Will any Next Gear and Accurence products be integrated?
Accurence’s QualityAssist and Next Gear’s MICA products are already integrated and serving the insurance industry side-by-side today. The combined management team is eager to look at other ways our two companies can benefit from further integrations.
Is my price going to change?
No price changes are currently contemplated for customers.
Will the integrations I use stay the same?
Yes, the current integrations will remain in use.
What will happen to my software support?
Accurence and Next Gear are known for best-in-class support for both contractors and carriers and we look forward to blending the two teams to provide an even more improved experience in the coming months. We will communicate changes to you in advance, but for the time being, please continue to get support in the same way you did before the merger.
What will training look like going forward?
Both Next Gear and Accurence customers have access to multiple training options. We will be reviewing both companies’ capabilities to provide the best of both worlds to of our customers in the future.
Is my account manager changing?
With a combined team of passionate experts, our two companies are working towards ensuring that support at the account management level meets each customer’s expectations. As this work evolves, your current Next Gear and Accurence account managers will continue to work with you.
Will there be any changes in the combined company leadership?
While many leadership roles are still in the process of being defined, Accurence management has transitioned to Next Gear Solutions and Next Gear senior personnel are still in place.