Alan Gray

What Alan Gray does

Alan Gray LLC is a Boston-headquartered professional services firm founded in 1988 that delivers claims auditing, forensic accounting, reinsurance audit, legal expense management, quantitative analytics, MGA/TPA audit, specialty TPA claims, back-office accounting, and estate liquidation services to insurance and reinsurance entities, MGAs, TPAs, captives, brokers, public risk pools, and self-insured Fortune 500 organizations. The firm has been a subsidiary of Premia Holdings since 2018 and wholly owns A.G. Risk Management Inc. (AGRM, acquired 2021 from Armour Risk Management), which extends its reinsurance claims administration capability into London alongside offices in Boston, Quincy, Philadelphia, Bermuda, and Antwerp.

The core technology build is the proprietary SIMS (Smart Invoice Management System) e-billing platform, a web-based solution that integrates with matter management and accounts payable systems to perform invoice compliance review, collaborative appeal processing, rate setting using comparable metrics, case budget monitoring, and analytics, with cited average legal cost savings of 6-15%. A separate Quantitative Services stack provides data extraction, allocation modeling for mass tort and reinsurance recovery, decision tree sensitivity analysis, and exposure analysis for asbestos, hazardous waste, and similar long-tail claims. The Back Office Services offering wraps operational accounting, statutory/GAAP reporting, investment accounting, actuarial services, and regulatory compliance around ongoing and legacy books of P&C insurance business.

Alan Gray monetizes through custom, quote-based professional services engagements billed under multi-year contracts, with no publicly disclosed pricing tiers. Go-to-market is direct enterprise engagement (industry referrals, reputation, and conference presence) rather than channel or self-serve distribution. Customer evidence spans named engagements across major P&C carriers, MGAs, captives, global reinsurers, public entities, and financial services firms, with quantified outcomes including $25M+ in reserve reductions, $100M+ in identified misappropriation, and $2.5M in annual administration cost savings. Two bolt-on acquisitions (Armour Risk Management/AGRM in 2021 and Legal Cost Control on 2022-09-08) and the 2025 ECRA/CMC successor pool manager appointment illustrate continued inorganic and mandate-based growth.

Name

Alan Gray

Legal name

Alan Gray LLC

Website

https://alangray.com

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

101–250 employees

Short description

Alan Gray is a Boston-based professional services firm that provides claims auditing, forensic accounting, reinsurance, legal expense management, quantitative analytics, and back-office services to insurance and reinsurance entities, MGAs, TPAs, captives, and public entities, and operates the SIMS e-billing platform.

Ownership category

akta.pro rank

Product category

Insurance Claims Auditing & Advisory

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Legal Services (5411)

SIC

Services-Engineering, Accounting, Research, Management (8700), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Claims Advocacy & Loss Recovery Services (FSAEADAH)

akta.pro secondary industry

Third-Party Administrator (TPA) & Program Administrator Services (FSAJALAF)

Keywords

• Claims auditing services
• Reinsurance advisory
• Forensic accounting
• Legal expense management
• Insurance consulting

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Professional Services - Claims Auditing: Core consulting services providing claims auditing across all Property & Casualty lines including environmental, mass tort, product liability, auto, construction defect, workers' compensation, healthcare, professional liability, and commercial property. Services are delivered by auditors averaging over 25 years of experience.
2. Forensic Accounting Services: Supporting insurance companies, attorneys, third-party administrators, and businesses for over 20 years in evaluating business losses from business interruption, fraud, theft, weather, fire, misuse, or financial misstatement claims.
3. Reinsurance Services: Comprehensive reinsurance audit services including due diligence support, Schedule F preparation, reinsurance billings and collections, best practice operational reviews, commutation pricing and settlement discussions, arbitration and litigation support, and reinsurance accounting.
4. Legal Expense Management: Invoice analysis, reconciliation, and negotiation services across various industry sectors, performed by fully qualified attorneys. Includes SIMS e-billing software licensing and support.
5. Third-Party Administrator (TPA) Services: Expert claims management, administration, and processing services for various liabilities on national and international levels, specializing in HPL claims and Workers' Compensation.
6. Back Office and Accounting Services: Full range of accounting and reporting services to companies in the Property and Casualty space, both for ongoing and legacy books of business, including operational accounting, statutory reporting, GAAP reporting, investment accounting, actuarial services, reinsurance services, and regulatory compliance.
7. Estate Liquidation Services: Specialized administration services for entities in liquidation, including proof of claim administration, actuarial services, reinsurance, accounting & finance, and management of staffing & finance.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Alan Gray is a claims audit and advisory firm serving the insurance and reinsurance industries. It delivers claims auditing, forensic accounting, reinsurance services, legal expense management, quantitative analytics, MGA/TPA audits, specialty TPA claims handling, estate liquidation, and back-office accounting services to carriers, reinsurers, MGAs, TPAs, captives, law firms, and public entities. Its proprietary SIMS e-billing platform supports legal cost management with measurable cost savings.

Product overview

Alan Gray is a risk and claims advisory firm offering a comprehensive suite of professional services for the insurance and reinsurance industries. The company's portfolio includes Claims Auditing, Forensic Accounting, Quantitative Services, Legal Expense Management (including SIMS E-Billing Solution), Reinsurance Services, MGA/TPA Audit Services, Specialty TPA Claims Management, Estate Liquidation Services, and Back Office Services. The flagship technology product is SIMS (Smart Invoice Management System), a web-based e-billing solution that integrates with matter management and accounts payable systems. The subsidiary A.G. Risk Management (AGRM) provides specialized run-off and reinsurance claims administration services.

Differentiator

Problem solved

Functional benefit

Brands

• SIMS (Smart Invoice Management System): Web-based e-billing solution for legal invoice processing and approval, ensuring compliance with billing guidelines while providing robust data collection and analytics

Products and services

• Claims Auditing

Quantifiable outcome

• 6-15% average legal cost savings through SIMS e-billing solution
• +6 more outcomes

Named customers31 records

Segments9 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Four partnerships are on record, tiered major, minor and core.

• Excess and Casualty Reinsurance Association (ECRA)majorOthers · 10 June 2025Alan Gray was appointed successor pool manager for ECRA reinsurance pool, which underwrote reinsurance business from 1950 to 1982. The portfolio includes significant long-tail asbestos, pollution, and health hazard exposures. Alan Gray will perform claim administration, financial coordination, and data management services.
• Carpenter Management Corporation (CMC)majorOthers · 10 June 2025Alan Gray was appointed successor pool manager for CMC reinsurance pool, which underwrote reinsurance business from 1966 to 1982. The portfolio includes significant long-tail asbestos, pollution, and health hazard exposures. Alan Gray will perform claim administration, financial coordination, and data management services.
• Excess & Treaty Management Corporation (ETMC)minorOthers · 10 June 2025ETMC was the previous administrator of ECRA and CMC reinsurance pools under a run-off agreement in place since 1982. ETMC terminated services and exited active management in 2024, leading to Alan Gray's selection as successor pool manager.
• A.G. Risk Management Inc. (formerly Armour Risk Management Inc.)coreStrategic or Co-development Partner · 1 January 2021Alan Gray acquired Armour Risk Management Inc. in 2021, rebranded as A.G. Risk Management Inc. (AGRM). The acquisition expanded Alan Gray's team and services, enabling reach to new areas including London. AGRM provides reinsurance claims management, billing and collections, and accounting support including statutory statements.

Scale indicators19 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• EY (Insurance Advisory): Big 4 firm with significant insurance industry advisory including actuarial, claims transformation, and forensic/investigations services. Broad incumbent competitor to Alan Gray for insurance audit, forensic accounting, and complex claims advisory engagements.
• Deloitte (Insurance Practice): Big 4 firm with large insurance consulting and advisory practice covering claims transformation, actuarial, risk, and forensic services. Competes with Alan Gray on large carrier mandates and brings broader transformation capability that pressures boutique specialists on price.
• Aon (Claims & Risk Advisory): Global professional services firm with major insurance brokerage, claims, and risk advisory practices serving P&C carriers and reinsurers. Competes with Alan Gray in claims consulting and reinsurance services through its broader advisory platform.

Direct peers

• McLarens: Global claims services provider offering loss adjusting, claims management, and TPA services to insurance and reinsurance clients. Direct competitor in claims auditing, complex/long-tail claims handling, and TPA administration across P&C lines.
• Davies Group: UK-headquartered professional services firm providing claims management, audit, and consulting to insurers and reinsurers. Direct competitor in claims auditing, reinsurance services, and legal expense management with strong overlap in long-tail liability and run-off work.
• Genpact: Global professional services and digital transformation firm with deep insurance industry practice covering claims, underwriting, and finance/accounting BPO. Overlaps with Alan Gray's back-office accounting and claims support offerings for P&C carriers, albeit at significantly greater scale.
• Sedgwick: Leading global claims management, loss adjusting, and managed care provider serving insurance carriers, employers, and public entities. Direct competitor in TPA claims administration and broader claims advisory services for P&C lines.
• Crawford & Company: Global claims management and adjusting firm serving P&C insurers, reinsurers, and self-insureds with claims handling, TPA, and loss adjusting services. Direct overlap with Alan Gray's claims auditing, TPA, and forensic accounting practices, particularly in long-tail liability and complex claims.
• EXL Service: Operations management and analytics company with a sizable insurance services practice spanning claims, underwriting, and actuarial support. Comparable to Alan Gray in back-office accounting and TPA-adjacent services for P&C insurers, though at much larger scale.

Emerging players

• Epiq: Specialized legal and insurance services firm providing claims management, legal spend management, and class action administration. Comparable to Alan Gray in legal expense management and e-billing technology, with growing overlap in complex claims and run-off administration.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/alangrayllc
• LinkedInlinkedin.com/company/alan-gray-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alan Gray