Ventiv Technology® Announces Acquisition of DAVID Corporation, Provider of NAVRISK® VISION Suite of Products and Leader in Claims and Policy Administration Software
Ventiv Technology, Inc., the fastest-growing provider of risk, claims and safety software, announced today that it has acquired DAVID Corporation, a proven leader in claims and policy administration software. As a combined company, Ventiv Technology® will have more than 625 clients, 390,000 users and 450 colleagues with offices in nine countries. Specific terms were not disclosed.
Ventiv Chief Executive Officer Bill Diaz explained the company’s reasons for the acquisition: “With our purchase of DAVID Corporation, Ventiv enhances our product capabilities and improves our competitive position in several important markets. We’re excited to add DAVID Corp. products to the Ventiv suite of technology solutions. NAVRISK® VISION Policy is a market-leading administration and underwriting tool that moves Ventiv into the policy marketplace. DAVID’s NAVRISK® VISION Claims is uniquely positioned to offer P&C midmarket organizations a state-of-the-art claims administration tool at an affordable price. In addition, acquiring DAVID Corp. will strengthen our position in key markets that include captives, health care, and risk pools, risk retention groups and insurance funds.”
DAVID Corp. President and Chief Executive Officer Mark Dorn will not be joining the newly combined companies. Mr. Dorn will, however, serve as a consultant during the transition period following Ventiv’s acquisition of DAVID Corp. Mr. Dorn said: “In Ventiv Technology, DAVID Corp. has joined forces with the ideal partner. Ventiv understands and appreciates the many assets as well as the expertise that the people of DAVID bring to this acquisition. I’m proud of the work that my DAVID colleagues and I have done to build and deliver outstanding policy, claims and risk products. I’m confident that DAVID’s already successful trajectory will be accelerated under Ventiv’s leadership. DAVID’s outstanding staff and our valued customers are in excellent hands with Ventiv Technology.”
For current DAVID Corp. clients, Ventiv will fully support the NAVRISK® VISION suite of products. There are no plans to move NAVRISK® VISION clients to Ventiv products (or vice versa) unless a client identifies a need solved by another solution.
For new customers, the combined Ventiv/DAVID Corp. will provide integrated risk management, claims and policy solutions configured to best meet the customer’s specific needs.