Three loss adjusters join forces to tackle tougher market

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Exclusive: Three independent loss adjusters will eventually merge under a single brand in order to better face off against a wave of consolidation in the market.

Fulmar Consulting, Pinnacle Loss Adjusting and the Quest Partnership, have formed a strategic alliance in order to broaden geographic scope and range of specialisms on offer.

The businesses will eventually merge under a single brand in 18 to 24 months, said Martino Marchetti, managing director of Glasgow-based Pinnacle.

“We all have similar business models,” he told Post. “We have been working on this for the past 18 months and our IT systems will be tied together from July 1.

“Ultimately, the long term objective is to trade under one brand.”

Marchetti said with a wave of consolidation in the market, most notably with Cunningham Lindsey being bought by Sedgwick, and merged with Vericlaim, the market was tougher.

Prior to that Criterion was snapped up by Charles Taylor, and Davies Group bought Claims Management Services.

He said: “Smaller businesses are limited in what they can do, and their geographical spread. If we want to tender for large accounts, we need to be together.

“We can’t go along to a major PLC and present a service strategy we are able to deliver. But now we can offer clients of that nature something different.”

He declined to say how the ownership structure would look once the companies decided to operate under one brand, but confirmed that himself, Peter Mann from Quest Partnership, and Sandy Taylor, from Fulmar would all serve on a single board.

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