CRAWFORD & COMPANY® ACQUIRES MAJORITY INTEREST IN WEGOLOOK®, LLC
Acquisition gives Crawford® the potential to transform the insurance industry
Oklahoma City, Okla. – December 8, 2016 – WeGoLook® today announced that Crawford & Company® (NYSE: CRD-A and CRD-B), one of the world’s largest independent providers of claims management solutions to the risk management and insurance industry, headquartered in Atlanta, Georgia, will acquire 85% membership interest in WeGoLook. This strategic investment in WeGoLook will enable Crawford to revolutionize, automate and expedite the insurance claim-handling process by using a nationwide mobile workforce for automotive and property inspections. This acquisition, subject to certain conditions, has been approved by the Board of Directors for both companies, and is expected to close in early January 2017.
Bringing an on-demand workforce to the insurance industry
WeGoLook is an online and mobile app, designed to capture requests for low-complexity inspections. Creation of custom inspection requests and orders for inspections can now be made in real-time. Once an order is placed, a WeGoLook agent, a “Looker®”, can be dispatched via the mobile app. When the inspection has been completed to Crawford’s standards, the collected data is safely and securely captured in the WeGoLook system and shared with the appropriate parties. All logistics—the scheduling, the dispatching, the Looker—is handled by WeGoLook, cutting the hassle out of the inspection process while enhancing the policyholder experience.
WeGoLook is among the fastest-growing and most innovative gig economy companies in the U.S., with an experienced leadership team led by co-founder and CEO Robin Smith and COO Kenneth Knoll. In 2016, WeGoLook was cited as one of America’s 500 fastest-growing companies by Inc. Magazine. And in 2015, WeGoLook was named Innovator of the Year by Oklahoma’s Journal Record.
“This acquisition has the potential to transform the insurance industry,” said Robin Smith. “Crawford will be able to respond to claims faster than ever and streamline costs, while WeGoLook will have the opportunity for global expansion.”
“This is a game changer,” commented Ken Fraser, Crawford’s executive vice president and chief strategy and development officer. “Technological advances, such as WeGoLook’s mobile platform, will change the way we work. We’ll be positioned to deliver exceptional, innovative services to our clients worldwide.”
WeGoLook will be the first company established in Crawford’s new innovation arm, Crawford Innovative Ventures, LLC, an entity formed to invest in strategic acquisitions and partnerships that will serve as a catalyst for innovation within Crawford.
Expediting the claims process and delivering exceptional value
The acquisition solves one of the most persistent challenges in the insurance industry: how to get claims processed faster. Today, insurance inspections may take anywhere from a few hours to a few weeks. With the acquisition of WeGoLook, Crawford is fast-tracking the entire process and streamlining the claim process workflow by leveraging “gig economy” workers, already in the field.
- Crawford will be able to send out claim requests in real-time, tapping into WeGoLook’s 30,000 and growing Looker workforce.
- Crawford will be able to assign experienced agents to high-priority tasks, allowing Lookers to handle simple inspection requests and at the same time reduce costs.
- Crawford will experience extensive data capture efficiencies. All inspections sent through WeGoLook will be funneled through a secure, mobile platform. No more paper trails, and no confusion over what an inspection does or does not entail.
- Crawford can leverage WeGoLook’s custom inspections capabilities. For special requests, such as needing an agent who is proficient in a specific language, Crawford can include that request in the order to the WeGoLook’s workforce.
Founded in 2009, Oklahoma City-based WeGoLook (WeGoLook.com) is pioneering on-demand field inspection and verification services. With its web and mobile platform, the company empowers a 30,000+ mobile workforce, known as Lookers, to collect and verify information and fulfill custom tasks for businesses and consumers alike. WeGoLook is led by CEO Robin Smith, with Lookers located across the US, Canada, the UK and Australia. The WeGoLook app is available for download in both iOS and Android. Stay up-to-date with WeGoLook news by following WeGoLook on Twitter, Facebook and the blog.
Based in Atlanta, Georgia, Crawford & Company (crawfordandcompany.com) is one of the world’s largest independent providers of claims management solutions to the risk management and insurance industry, as well as to self-insured entities, with an expansive global network serving clients in more than 70 countries. The Crawford Solution® offers comprehensive, integrated claims services, business process outsourcing and consulting services for major product lines including property and casualty claims management, workers’ compensation claims and medical management, and legal settlement administration.