Chief executive Jeremy Hyams said the acquisition will “create a scalable adjusting service”

Claims Consortium Group has acquired the trading business of Stream Claims Services Ltd for an undisclosed sum.

The company said the acquisition was in response to market demand for enhanced capacity, increased choice and smarter solutions for large and complex claims.

It added that the deal would place the latest technology in the hands of expert technical adjusters and surveyors, enabling data-driven decision-making and create a more agile model for bespoke claims management.

Claims Consortium Group chief executive Jeremy Hyams said: “We are thrilled to expand on our highly successful claims handling model as we welcome Stream to the Group. Combining the loss adjusting expertise within Stream with the breadth and variety of our claims handling experience, supply chain capability and cutting edge technology will create a scalable adjusting service that will completely revolutionise the loss adjusting market.”

Following the deal, Stream will become Claims Consortium Adjusting, joining the existing adjusting arm of Claims Consortium Group. Nick Turner, professional services director at Claims Consortium, joins the board of directors overseeing all operations across the Group.

Jim Pittman, current managing director at Stream, will now report into Turner, and he said the deal represented a great opportunity for the business.

“We are thrilled to join Claims Consortium Group,”  he said. “Joining a large company we will have a new platform for growth and be able to offer the wider range of services that our clients require. Our loss adjusters will have more access to superior technology and a range of additional services that will underpin our ability to offer individual solutions for every customer.”