Willis has launched a new Forensic Accounting & Valuation Services (FAVS) team to enhance its global valuation offerings. This step brings together expertise in valuation, data, and consulting to better serve clients, especially in the area of international risk.
The new FAVS team replaces the previous Forensic Accounting and Complex Claims group. The change reflects a move toward using more data and technology in valuation services. This shift aims to meet the rising demand for accurate assessments in today’s insurance market.
To lead the team, Willis has made some key appointments. James Adams, a senior valuation expert from Marsh in Great Britain, has joined the team. Ken Giambagno will serve as a senior advisor. Jason Lelio, who has a strong background in the company’s forensic accounting work, has been named the head of the global FAVS team.
While the team will continue working on insurance claim quantification and preparation, there will now be a stronger focus on precise asset valuations. This focus is in response to the insurance industry’s growing emphasis on correctly reporting insured values, which play a big role in recovering losses after an event.
Willis says this expansion will help bring together analytics, technology, and valuation skills within its Risk & Analytics business. By combining these areas, the company hopes to offer more accurate and tailored solutions for clients around the world.
Lelio expressed excitement about the new additions to the team. He said the group’s fresh expertise and perspectives will help create smarter, more specialized services for customers moving forward.