Profile: Crawford & Co (CRDb.N)

CRDb.N on New York Stock Exchange

7.60USD
1 Aug 2013
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Crawford & Company (Crawford) is an independent provider of claims management solutions to the risk management and insurance industry, as well as self-insured entities, with a global network serving clients in more than 70 countries. The Crawford System of Claims Solutions offers integrated claims services, business process outsourcing and consulting services for product lines, including property and casualty claims management, workers’ compensation claims and medical management, and legal settlement administration. It has four segments: America, which serves the property and casualty insurance company markets in the U.S., Canada, Latin America, and the Caribbean; International Operations, EMEA/AP, which serves the property and casualty insurance company markets in Europe, including the United Kingdom, the Middle East, Africa, and Asia-Pacific (which includes Australia and New Zealand); Broadspire, which serves the United States self-insurance marketplace, and Legal Settlement Administration, which serves the securities, bankruptcy and other legal settlements markets, primarily in the United States. In October 2011, The Garden City Group, Inc., a wholly owned subsidiary of the Company acquired Settlement Services, Inc. In February 2011, the Company acquired Studio Bolton & Associati S.r.l.

America

Substantially all of the Company's Americas segment revenues are derived from the insurance company market. The Company’s Americas segment provides claims management services in the U.S., Canada, Latin America, and the Caribbean, mainly to insurance companies. These insurance companies customarily manage their own claims administration function, but often rely upon third-party service providers for the various services which the Company provides, primarily with respect to the field investigation and evaluation of property and casualty insurance claims. Americas services are provided through six major service lines: U.S. Claims Field Operations, Contractor ConnectionSM, U.S. Technical Services, U.S. Catastrophe Services, Canada (all service lines), and Latin America/Caribbean (all service lines). U.S. Claims Field Operations, Contractor Connection, U.S. Technical Services, and U.S. Catastrophe Services make up the Company's U.S. Property & Casualty (U.S. P&C) operations.

Property claims management services are designed to service all types of residential or commercial property losses and include property claims management, contents services, and investigation services. Upon assignment, the Company assembles a team of claims professionals, consultants, and project management specialists, as needed, to evaluate and, if appropriate, settle a claim, and prevent further loss. The Company maintains a network of property and general adjusters in order to service these assignments efficiently, regardless of location. The Company has designed its service standards to deliver service on every assignment.

Casualty claims management services include menu of services including: claim adjudication, from initial investigation through settlement; on-scene accident investigation; expert testimony and deposition support; medical and vocational consulting for litigation support; medical bill review; subrogation and recovery services; commercial transportation services; mass tort services; and liability management services.

Vehicle services offers a suite of services, including vehicle damage appraisal, heavy equipment appraisal, and vehicle condition inspection for all vehicle classes, from private automobiles to tanker trucks or other specialty equipment.

Crawford Central provides a custom tailored claims experience that incorporates a designated in-house claim examination team. Crawford Central services include: first notice of loss and claim intake at a single location; multi-state licensed examiners/adjusters; triage and determination of optimum handling methodology; client dedicated examiners; centralized tracking, coverage analysis, and review of work product by qualified claims professionals; desk adjustments of smaller losses; trust fund capability and loss reporting; and rapid response and solutions to unanticipated claims volume.

ClaimsAlert is a centralized claim intake center that receives and processes claims. Upon notification by phone, fax, e-mail or on-line submission, claim assignments are quickly processed and electronically routed to the appropriate Crawford branch office or client location. Services include: claim intake and customer service support; overflow claim intake during peak periods; an event catastrophe support center; call center support; and other customized programs tailored to client needs.

EMEA/AP.

The Company’s EMEA/AP revenues are derived primarily from the insurance company and third-party administration markets. In the insurance company market, EMEA/AP provides field investigation and evaluation of property and casualty insurance claims. Revenues for EMEA/AP are reported for three regions: the U.K.; Continental Europe, the Middle East and Africa (CEMEA); and Asia-Pacific. The elements of EMEA/AP claims management services are substantially the same as those provided to U.S. property and casualty insurance company clients by its U.S. P&C operations. These services are generally classified by the underlying risk categories, or major types of loss, used by insurance companies.

Broadspire

Broadspire is a third-party administrator to employers and insurance companies, offering an integrated platform of workers’ compensation and liability claims management, as well as medical management services. Through this segment, the Company serves clients in the self-insured or commercially insured marketplace by providing them with a range of claims and risk management services. In addition to field investigation and claims evaluation, Broadspire also offers initial loss reporting services, loss mitigation services, such as medical bill review, medical case management and vocational rehabilitation, administration of trust funds established to pay claims, and risk management information services. Broadspire’s services are provided through three major service lines: Claims Management Services, Medical Management Services and Risk Management Information Services.

Broadspire offers an integrated approach to workers’ compensation and liability claims management. Its service model applies a standardized, streamlined and strategic process designed to shorten claim duration and reduce overall claim costs, while at the same time helping to ensure that covered employees receive any medical or related care they need to enable a healthy and prompt return to work. By combining Web-based advanced software with strategic plans of action, Broadspire can quickly identify and counteract issues that may otherwise delay claim closure.

Broadspire also provides e-Triage, a Web-based application that addresses core problems, such as inconsistency in claim practices and failure to identify complex files early in the life of a claim. Broadspire’s case managers proactively manage medical treatment while facilitating understanding of, and participation in, the rehabilitation process. Medical management services include field nurses and vocational experts, as well as telephonic nurses; a professional team with experience and credentials; cost containment programs aimed at controlling medical costs; access to current information about treatment, healthcare and rehabilitative techniques; proactive management that focuses on abilities and results; system integration with claims adjusters; on-site physician advisors and on-line medical resources, and AAHCC/URAC accreditation. Risk Sciences Group, Inc. (RSG), a wholly-owned subsidiary of the Company that reports through the Broadspire segment, is a risk management information systems (RMIS) software and services company with a history of providing customized risk management solutions.

Legal settlement Administration

The Company provides legal settlement administration services related to settlements of securities cases, product liability cases, bankruptcy noticing and distribution, and other legal settlements, by identifying and qualifying class members, determining and dispensing settlement payments, and administering the settlement funds. Such services are generally referred to by the Company as class action services and are performed by The Garden City Group, Inc. (GCG), a wholly-owned subsidiary of the Company. An executive team, including attorneys with class action, bankruptcy and mass tort litigation experience, guides each project initiative. GCG offers solutions in three core areas: Class Action Services - technology-intensive administrative services for plaintiff and defense counsel as well as corporate defendants to expedite high-volume class action settlements, Bankruptcy Services cost -effective, end-to-end solutions for managing the administration of bankruptcy and GCG Communications - legal notice programs for case administration.

Company Address

Crawford & Co

1001 Summit Boulevard
ATLANTA   GA   30319
P: +1404.3001000
F: +1404.8474028

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