June 12, 2017
Financial Technology, Financial Technology and Services, Insurtech (Insurance Technology), Software, Tech-Enabled Services, Technology
Mergers and Acquisitions
GCA Advises ControlExpert on Its Strategic Partnership With General Atlantic
GCA is pleased to announce that we advised ControlExpert, a technology solution provider to the auto insurance industry and one of Europe’s largest InsurTech companies, on its strategic partnership with General Atlantic, a leading global growth equity firm providing capital and strategic support for growth companies. General Atlantic joins the founder and management teams as a new shareholder in the company. This transaction marks GCA’s 12th tech-enabled services and software advisory of 2017.
Founded in 2002, ControlExpert provides technology solutions that streamline various elements of the claims management process by using a combination of software, data analytics and human expertise to assess the magnitude of damages and associated repair expenses. The company facilitates communication among all participants in the claims settlement process, including insurance companies, automobile repair shops, automobile owners, original equipment manufacturers, and leasing and fleet management companies, and enables a more cost- and time-efficient processing of claim expenses. Considered a digital pioneer in automation, ControlExpert supports its customers internationally and is already present in 13 countries globally.
In addition to joining the founder and management teams as a shareholder in ControlExpert, General Atlantic will employ its industry resources, expertise and global franchise to empower ControlExpert to become a global strategic partner to the auto insurance ecosystem. In its next phase of growth, ControlExpert will focus on further enhancing its technology platform to offer top-notch innovation to its customers and continue to concentrate on fulfilling its mission to provide the highest quality solutions in the industry.