Validus was established in 2007 to provide claims management and analysis services to the UK motor industry and has since evolved to develop its own proprietary software that supports the automation of some claims services for insurance providers in the UK and overseas, including Australia.
The business, headquartered in Norwich, works with many of the UK’s leading insurers, notably providing its award-winning verifytmsoftware, which now services well over half of the UK insurers by number of claims, and generates more than half of the Group’s earnings.
In March 2013 LDC invested a significant stake in Validus-IVC (Validus) in a £12million buyout, enabling five senior shareholders to exit the business and provided the capital required to help support the continuing growth of Validus.
In 2016 Validus was crowned ‘Claims Partner of the Year’ at the Insurance Times Awards 2016. This win came after the business also scooped the ‘Technology Partnership of the Year – Claims’ accolade at the magazine’s Tech and Innovation Awards earlier in the year, where it was recognised for its new verify™ portal that was launched with the backing of major motor insurers Aviva and Ageas.
In 2018 LDC exited its investment in Validus, in a sale to NASDAQ-listed leading data analytics provider Verisk.