Claim Central Consolidated has taken ownership of Livegenic, a Philadelphia-based virtual collaboration platform for insurance providers.

The claims management group, an investor in Livegenic since 2017, says it acquired the remaining shares in the business that it does not already own.

A spokesman told insuranceNEWS.com.au the financial details of the deal are confidential.

“We were a key investor with a non-control holding since 2017,” the spokesman said. “Valuation is confidential so I cannot confirm the previous size of the investment.”

Livegenic will become a wholly owned subsidiary of Claim Central, but its brand identity will be kept and it will be business as usual for employees and existing clients.

Claim Central Group CEO Brian Siemsen says the new addition is a good boost for the business.

“Livegenic’s remote virtual inspection software is a fantastic addition to the Claim Central solution set,” he said.