MDI, a leading Insurtech company specializing in cloud-based core system solutions for life, health, annuity insurance, and risk management sectors, has acquired the Vendor Cost Control (VCC) software from JDI Data to transform construction defect cost management.

Offering the same services to administer cost sharing agreements in construction defect claims under the new name Control360, MDI will provide quick and accurate summary reports and accounts payables reports. Control360 provides allocations, reporting, and reconciliations without collecting and distributing defense funds.  

Control360 allows users to leave behind manual spreadsheets and email to track complex construction defect litigation expenses and individual invoice splitting. The product automates cost-sharing allocations, allowing users to view each carrier's share, amount paid, and balance due 24/7 through MDI's secure client portal. Accounting teams can easily monitor paid and outstanding invoices in real time with automated accounts payables reporting online.  

"MDI is thrilled to welcome Control360 into our risk management product suite," said Awais Shaikh, CEO of MDI. "This acquisition aligns perfectly with our mission to empower claims professionals and defense firms with innovative technology solutions. By combining the strengths of MDI with the expertise of Control360, we will further expand into the construction industry."