kpmg Layoffs 2023: Professional Acquires The Insurance Loss Claims
KPMG acquires the insurance claims division
The Canadian professional services company KPMG has acquired an insurance claims practice that provides commercial loss claims calculations for insurance companies and their clients, along with income replacement benefit and related computations.
From a revenue and employee standpoint, KPMG’s regional forensic practice in southwestern Ontario and eastern Canada has effectively doubled in size as a result of its acquisition of BDO Canada’s claims practice, the firm informed Canadian Underwriter.
The purchase ended on January 15. The team joining KPMG will work out of the Oakville, Ontario office.
The acquisition also strengthens KPMG’s offering to insurance clients by broadening its Insurance Claims Center of Excellence for Canada and increasing the company’s presence in P&C insurance claims.
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“This acquisition will enable KPMG’s national forensic insurance claims practice to enhance its ability to serve insurance carriers nationwide by offering a more comprehensive
Claims service, resulting in more effective processing and an improved experience for insurers and their clients overall,” the speaker continued.
He pointed out that KPMG has usually expanded naturally in the insurance claims industry, but that the particular practice and timing were ideal.
“I don’t think we have an acquisition strategy for growth in terms of insurance claims, but we want to keep growing this business as it is now, both nationally and with our current clientele in this area.”
KPMG receives a virtual office that offers interest-bearing benefits and income replacement as part of the agreement.
KPMG Layoffs
and other computations, as well as expedites the file referral procedure and gives insurance claims handlers a useful tool. The technology tool insurers use to communicate with the firm has been improved by KPMG.
“They just come in, they can refer files to us, and if they’re given access, they can use the built-in calculators, which helps them with their daily work.”
The team is excited to join KPMG, according to Olsen.
“Its reputable brand, size, and experience will help propel the company forward,” she remarked. “I feel like I’m coming home in a way because I started my tax career at KPMG and rose to the position of senior manager in our tax practice.”
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