RIA Issues Statement on Next Gear Acquisition
MT LAUREL, N.J.—September 23, 2021—CoreLogic recently acquired Next Gear Solutions, creating a powerful partnership between two of the restoration industry’s leading digital solutions providers. The company CEOs tout their goals for enhancing the documentation and claims processes for restoration professionals, but the Next Gear acquisition raises concerns for some in the industry about data collection, use, and privacy. As major software and data analytics providers, both CoreLogic and Next Gear gather significant amounts of data from restorers, and it is not yet clear how the consolidation of these companies might impact how that information is used and safeguarded. The Restoration Industry Association has released a statement on these concerns and how the Association intends to monitor them going forward.
Read the full RIA statement below:
MT LAUREL, N.J.—September 17, 2021—Earlier this week, CoreLogic announced the completion of its acquisition of Next Gear Solutions. The Restoration Industry Association (RIA) recognizes that as consolidation continues to happen within the property restoration ecosystem, change can be expected. The RIA will continue to monitor this change and its impact on restoration contractors.
The RIA established the Advocacy and Government Affairs Committee (AGA) to serve as the voice for restoration contractors. AGA gathers restorers’ concerns on the issues impacting their business, develops peer reviewed position statements on those issues, and engages RIA’s Restoration Advocate to advance those positions in support of restorers’ best interests.
While the implications of this acquisition on restoration contractors is not yet fully known, RIA members and constituents have concerns about how their data is being used and how it will impact the future of their business.
Restoration estimating platforms, management platforms and Third Party Administrators are gathering significant amounts of data about restorers. The privacy of entrepreneurs and restoration contractors is very important. Restoration contractors need to know how this data will be used and safeguarded.
Through the AGA, the RIA will closely monitor these issues of data privacy and how they will impact restoration contractors’ businesses going forward. The RIA appreciates the restoration industry’s continued support of AGA as it keeps restoration contractors informed and continues to advance their best interests.
About the Restoration Industry Association (RIA): The Restoration Industry Association (RIA) is the oldest and largest non-profit, professional trade association dedicated to providing leadership and promoting best practices through advocacy, standards & professional qualifications for the restoration industry.
With an extensive network of professionals working towards similar goals, RIA has become a trusted resource of knowledge for those involved in cleaning and restoration. For more information, visit www.restorationindustry.org.