GlobalOptions, provider of Special Investigative Unit Services to the insurance community, announced its strategic partnership with United Kingdom based firm, CSB (Claims and Surveillance Bureau). as part of the strategic partnership, GlobalOptions has entered into a definitive license and share option agreement to substantially acquire all of the assets of CSB. CSB provides coverage throughout the United Kingdom for all levels of enquiry; employing a national field force of expert claims consultants, surveillance operatives and fraud investigators.
CSB Managing Director Steve Cook comments, “I am truly delighted that CSB is to be part of GlobalOptions’ expansion across the globe and for the opportunity to align our proven operational capabilities with the most advanced proprietary case management and intelligence system GlobalTrak™. I believe this technological advancement will transform the way insurers expect our industry to do business and will eventually become the benchmark by which others are measured”. Steve continues, “There are real synergies and cultural similarities that exist between our respective organisations, which have made aligning operations surprisingly easy. We are already seeing the benefit this alliance brings to our clients and I am confident this will result in the most dynamic fraud and cost containment solution available to the global insurance industry”.
“This partnership marks a milestone in United Kingdom’s insurance investigation industry,” said Frank Pinder, President and CEO of GlobalOptions. “As the world’s largest provider, we’ve vetted CSB for their expertise and capability in their respective market and field. They’ve demonstrated their professional competence and we look forward to working together to provide the best solutions to address fraud on an international level. CSB will now be an integral part of implementing comprehensive counter fraud programs to reduce the cost of insurance fraud for consumers in the United Kingdom and will effectively manage all investigations through GlobalTrak™. As indemnity costs continue to rise, GlobalTrak will dramatically increase the speed of decisions on potentially fraudulent claims and give them the required metrics to better predict fraud trends across all lines of business.
Executive Vice President of UK and International Operations, Bobby Gracey, is also excited about the partnership that GlobalOptions has developed with CSB. Having over 25 years of experience in the insurance claims industry, Mr. Gracey endorses the alliance and believes that the UK is a key strategic location for GlobalOptions international growth. “I personally have known Steve and CSB for many years; and by following our extensive due diligence, it became apparent that working together, we could jointly create a market-leading response which meets and exceeds the needs of the UK insurance claims industry. In addition, GlobalOptions’ state-of-the-art technology platform, GlobalTrak™, will help transform the way the local industry transacts with counter-fraud organisations.”
