Praxis Consulting, Inc., a specialty provider of recovery and consultative services, has completed its acquisition of the assets of Aon Recovery, Inc., the subrogation specialty business unit of Aon Global Risk Consulting.
"This acquisition is a significant step for Praxis to enhance its existing suite of recovery services allowing our clients to best serve their customers," said Rob Ford, founder and CEO of Praxis Consulting. "We are excited by the prospect of having Aon Recovery's business join Praxis. Through this transaction we have strengthened our company fortifying our position in the marketplace."
Praxis's business model, approach, and technology remain intact. The increased capacity and expertise will result in added depth to the company's repository of knowledge and recovery services available to clients.
The acquisition is part of Praxis's long-term strategy to continually exceed our clients' needs, provide thought leadership to the industry, and broaden opportunities within the market. Praxis will maintain an office in Long Island, New York, thus giving it a greater presence in target markets, as well as access to other key clients in the region.
Praxis Consulting is a service provider specializing in subrogation benchmarking, outsourcing, and closed-file reviews and enhancing the recognition and recovery results of U.S. auto insurers, self-insureds, and municipalities in all 50 states. Praxis was founded in 1997 and has compiled a vast library of best practices in the area of subrogation recognition and recovery. As a niche provider, Praxis possesses a significant competitive advantage due to its size, strength, and capacity.