A Sheffield ‘legaltech’ firm which helps lawyers add up damages in personal injury cases has been snapped up by a US giant.
Software company Rebmark, based in the Electric Works, has been bought by Verisk, a global US data analytics provider.
Rebmark’s website is revolutionising the cost of personal injury claims. Previously, totting up damages was strictly a job for a lawyer, who might be on hundreds of pounds an hour.
Now it can be done in minutes. And if the Government changes the payment rates, Rebmark re-calculates all the costs in seconds.
The firm was set up by IT expert Mark Hewitt and his lawyer sister Rebecca Andersen in 2008.
Verisk, a Forbes Global 2000 company worth $13.2 billion, uses technology to provide analytics to customers in areas including underwriting and claims.
Mark said: “We’re excited to join the Verisk family of businesses. We look forward to helping customers automate otherwise manual, time-intensive work.”
Mark Anquillare, executive vice president and chief operating officer of Verisk said: “Rebmark’s innovative solutions are valuable additions to our existing claims offerings.”
The nine-strong company moved into the Electric Works from Banner Cross in the summer and has doubled in size for the last two years running.
In September it joined the famous ‘Made in Sheffield’ club of manufacturers.
The MiS committee said: ‘Rebmark epitomises the entrepreneurial spirit of the city. The company has developed a number of unique software programmes specifically for use the claims injury sector.
‘Their key product, piCalculator, improves the accuracy and eliminates inefficiencies in calculating aspects of a compensation claim.’
The firm’s Consensus comparison tool allows both sides to see where they agree so they can focus on differences, speeding up the process and removing some of the adversary.
At the time, Mark said: “As someone born-and-bred in Sheffield, this accolade has particular meaning to my sister and I.
“Our software is widely used and respected by lawyers throughout the UK, and we are delighted to be flying the flag for the city as a place where high quality products are produced.”