Schacht Group, a Chicago-based insurance consulting firm, and Smart Business Advisory and Consulting in Chicago said they have established a strategic alignment to provide a variety of services for insurance companies.
The firms said they will consult on such areas as regulatory issues, enterprise risk management, run-off, company restructuring and public policy initiatives.
The Schacht firm has as its principal Jim Schacht, a former director of the Illinois Insurance Department.
Their affiliation, the companies said, allows both organizations to partner in the provision of cost-effective accounting, actuarial, auditing, business process, tax, technology and regulatory solutions.
Key Coleman, managing director of Smart in Chicago, said, “With Jim Schacht and his colleague Lynne Prescott Hepler, we add a whole new dimension to Smart's growing bank of insurance talent, both in the Midwest and nationally.”
Mr. Coleman manages the Disputes, Valuations and Investigations Practice Group at Smart, providing business advisory, financial analysis and expert witness services to clients in the financial services industry. He specializes in financial analysis in connection with insurance, reinsurance and other business disputes.
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