Insurance Recovery Group

What Insurance Recovery Group does

Insurance Recovery Group (IRG) is a U.S. professional services firm headquartered in Marlborough, Massachusetts, that provides insurance subrogation and recovery services to insurance carriers and self-insured entities. Its offerings center on subrogation case management, comprehensive recovery solutions, and specialized handling of Second Injury Fund claims — a niche area of workers' compensation recovery — under a "Recovery Without Risk" contingency-fee model in which the firm is compensated based on successful recoveries.

Business development operates on a referral basis: carriers and self-insureds initiate case assignments via a centralized email intake ([email protected]), and the firm executes case-level recovery work for those referrals. IRG also operated a related legal services affiliate, Insurance Recovery Legal Associates, extending its service scope into legal support for subrogation matters.

IRG previously operated alongside Insurance Subrogation Group (ISG) as a parallel brand, but both entities have since been consolidated and rebranded under a unified parent, Cadex Insurance Recovery. The legacy isgfocus.com domain now redirects visitors to cadexsolutions.com, and the IRG and ISG identities function as service lines within the combined Cadex entity rather than as independent operating companies.

Name

Insurance Recovery Group

Legal name

Insurance Recovery Group

Website

https://isgfocus.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

Insurance Recovery Group is a U.S. professional services firm providing subrogation, claim recovery, and Second Injury Fund expertise to insurance carriers and self-insured entities, now consolidated under the Cadex Insurance Recovery brand.

Ownership category

akta.pro rank

Product category

Insurance Subrogation Services

NAICS

Other Insurance Related Activities (52429)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Claims Advocacy & Loss Recovery Services (FSAEADAH)

akta.pro secondary industry

Subrogation, Recovery & Coordination of Benefits (COB) Support (BPAAAFAG)

Keywords

• Insurance subrogation
• Insurance recovery
• Claims recovery
• Second Injury Fund
• Contingency recovery

Headquarters

HQ city

Westborough

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Insurance Recovery Services: Provides subrogation and insurance recovery services, likely on a contingency fee basis typical of the insurance recovery industry where fees are percentage-based on successful recoveries.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Insurance Recovery Group provides insurance subrogation and recovery services to insurance carriers and self-insured entities. Services include general subrogation case management, comprehensive recovery solutions, and specialized Second Injury Fund expertise, delivered under a "Recovery Without Risk" contingency-based model. The firm also operates a related legal arm, Insurance Recovery Legal Associates, supporting its recovery work.

Product overview

Insurance Recovery Group operates as part of a rebranded entity called Cadex Insurance Recovery. The company offers insurance subrogation services, recovery solutions, and comprehensive insurance recovery services including Second Injury Fund expertise. The portfolio includes the legacy Insurance Subrogation Group (ISG) and Insurance Recovery Group (IRG) brands, now consolidated under the Cadex Insurance Recovery umbrella.

Differentiator

Problem solved

Functional benefit

Products and services

• Insurance Subrogation and Recovery Services Core outsourced subrogation and recovery services for insurance carriers and self-insured entities, delivered under a contingency-based "Recovery Without Risk" engagement model. Includes case management, recovery pursuit, and partnership-based delivery.
• Second Injury Fund Expertise Specialized recovery service focused on Second Injury Fund claims, targeting insurance carriers and self-insured entities dealing with complex workers' compensation recovery situations.
• Insurance Recovery Legal Associates Legal services entity associated with IRG that supports insurance recovery and subrogation work, providing direct legal capability within the recovery process.
• Cadex Insurance Recovery Unified rebranded entity offering insurance subrogation and recovery services to the insurance industry, replacing the legacy ISG and IRG brands.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves3 records

Expansion highlights3 records

Others

• Sedgwick:

Direct peers

• The Wolf Group: National subrogation and recovery firm providing contingency-based recovery services to property/casualty insurance carriers. Closely comparable in service model, target buyer (insurance carriers), and contingency fee structure to IRG.
• SubroWorks (subroHub): Specialized subrogation services firm offering recovery, demand packages, and litigation support to insurance carriers on a contingency basis. Directly comparable service lines, buyer profile, and fee model to IRG's core subrogation business.
• Pemberton & Associates: Independent subrogation recovery firm serving insurance carriers with property, casualty, and workers' comp recovery services. Highly comparable in terms of carrier-targeted B2B services and contingency recovery model.
• Hedrick Subrogation Services: Subrogation and recovery services firm focused on insurance carrier clients with multi-line subrogation expertise. Comparable service mix and customer base to IRG/ISG.
• Arrowhead Recovery Services: Insurance recovery and subrogation firm serving carriers and self-insureds nationally on a contingency basis. Directly comparable offerings, channel (referral/email), and carrier client profile.
• Credit Adjustments Inc. Subrogation and recovery services firm for property/casualty insurance carriers. Comparable in service scope (subrogation, recovery) and B2B carrier-focused model to IRG.
• Concierge Claims Services: Independent subrogation firm providing recovery services to insurance carriers and self-insureds. Similar contingency model, carrier buyer set, and service scope.
• ARMS Inc. (Account Resolution Management Services): Subrogation and recovery services provider serving insurance carriers across multiple lines of business. Comparable service portfolio and carrier-target customer base.

Broad incumbents

• Crawford & Company: Global claims management and third-party administrator offering subrogation and recovery among a much broader claims management portfolio. Comparable recovery capability but as part of a much larger multi-service insurance services platform.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/IRGFocus

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Insurance Recovery Group