Accuserve, a Flexpoint Ford-owned managed repair services platform for property and casualty insurance, expects to buy as many as 10 companies in the next five years, said CEO Hunter Powell.

The Denver-headquartered company is looking to acquire additional managed repair providers and third-party administrator capabilities that expand its network and its trade expertise in categories like flooring, HVAC and other relevant trades, Powell said.

Accuserve hopes to continue to acquire in the home services sector to diversify its concentration in the northern part of the US towards the southern part, Powell said.

The firm responds to insured claims following catastrophe events and handles the process from notice of loss through to full property restoration for insurance carriers that include six of the top 10 in the country. It touches more than 50,000 claims per year, Powell said.

Accuserve prefers home services companies in the range of USD 10m to USD 50m in annual revenue and managed repair administrators with USD 50m to USD 150m in revenue, Powell said.

The firm looks for differentiated expertise that adds value to all stakeholders in an insurance claim — insurance carriers, contractors and homeowners, the CEO said.

“If there are ways to make the claims process more efficient that eliminates costs, eliminates friction, drives transparent communication via technology, we’re all about those things,” Powell said.

The 550-employee firm expects to close two deals this year for companies with more than USD 20m in annual revenues – one in the northern Midwest and the other in the Southwest, he said.

EBITDA multiples are 8x-12x for managed repair businesses and 4x-8x for home services companies, Powell said.

Accuserve has completed seven acquisitions since Aquiline Capital Partners created the company in an October 2020 merger of Insurance Claims Management and MADSKY, he said. One of the subsequent deals for the combined company was for a managed repair firm, and four were in home services, Powell said.

Flexpoint Ford acquired a majority stake in the company in March with Aquiline remaining as a minority stakeholder.

Accuserve’s model is an alternative to the traditional method of insurance carriers hiring adjusters to assess damage claims and hiring repair services separately, Powell said. The firm offers savings through efficiencies from start-to-finish claims handling that Accuserve believes provides a better customer value proposition, he said.

The company grows revenues about 25% per year and hopes to eventually handle USD 1bn in managed repair business in three to five years, said Powell, who declined to disclose company financials.

Alacrity Solutions Group, Contractor Connection and Sedgwick Claims Management are competitors in managed repair, the CEO said.