Crawford & Company · NYSE:CRD.A
Crawford & — Investor Presentation (July 2021)
94 slides from Crawford &'s investor presentation, Jul 21, 2021
Slide 1: Crawford 101
Crawford Crawford 101 July 2021 i
Slide 2: Forward-Looking Statements and Additional Information
2 2 Forward - Looking Statements and Additional Information Forward - Looking Statements This presentation contains forward - looking statements, including statements about the expected future financial condition, resul ts of operations and earnings outlook of Crawford & Company. Statements, both qu
Slide 3: Table of Contents
3 4 Introduction to Crawford & Company 19 Industry Overview 29 Investing in Innovation 35 Growth Strategy 41 Financial Overview 45 Environmental, Social and Governance 51 Global Service Lines: Loss Adjusting 57 Global Service Lines: Platform Solutions 63 Global Service Lines: TPA: Broadspire 68 Conc
Slide 4: Introduction to Crawford & Company
4 Introduction to Crawford & Company
Slide 5: Who We Are
5 $ 18 BILLION + Claims managed annually 1.6 MILLION Claims handled 5 The world’s largest publicly listed independent provider of global claims management and outsourcing solutions. BY GLOBAL SERVICE LINES BY GEOGRAPHY 44% ⎹ Loss Adjusting 38% ⎹ TPA: Broadspire 18% ⎹ Platform Solutions 58% ⎹ US 9% ⎹
Slide 6: Our History
6 6 Our History 1941 - Jim Crawford founds Crawford & Company in Georgia 1946 - Established Crawford Educational Services training program 1957 - Crawford opens office in London, begins international expansion 1967 - 25th anniversary; offices in Canada, Puerto Rico, England, and U.S. 1968 - Crawford
Slide 7: What We Do
7 7 BY GLOBAL SERVICE LINES 44% ⎹ Loss Adjusting 38% ⎹ TPA: Broadspire 18% ⎹ Platform Solutions Crawford delivers services to its clients through a global service line reporting structure consisting of three operating segments : What We Do LOSS ADJUSTING TPA: BROADSPIRE PLATFORM SOLUTIONS • Loss Adj
Slide 8: Global coverage that goes beyond borders
8 70 countries 9K Employees worldwide 50K field resources 6K network contractors 8 Global coverage that goes beyond borders.
Slide 9: Crawford Bridges the Gap Between Risk Bearers and Claimants
9 9 Crawford Bridges the Gap Between Risk Bearers and Claimants Risk Bearers Carriers Self - Insured Corporations Captive Insurers Retail Customers Corporation Employees Corporation Insured Claimants Claims Ecosystem We close the gap for our customers: Expertise Scale Proximity
Slide 10: Why is Crawford Needed?
10 10 Carriers Self Insured Corporations Captive Insurers Expertise • Large loss claims in particular require technical subject matter expertise like forensics, engineering, energy which may not always be available in - house at a carrier or self - insured corporate Capacity • Independent adjustors
Slide 11: Why is Crawford Needed? Carriers
11 11 Why is Crawford Needed? CARRIERS Accuracy, Quality and Expertise • Claims experience is an extension of a carrier’s brand • War on talent and increasing claims complexity has amplified need to hire more expertise • GTS offers global expertise in construction, engineering, forensic accounting,
Slide 12: Why is Crawford Needed? Corporates
12 12 Why is Crawford Needed? CORPORATES Accuracy, Quality and Expertise • Bonus program for adjusters based on systematic and manual quality reviews • Cross - functional service team with strategic Account Exec driving vision and action plans • Biopsychosocial approach to understand injured worker
Slide 13: Financial Snapshot
13 13 (1) Combined market capitalization as of 7/16/2021 (2) See appendix for non - GAAP explanation and reconciliation of non - GAAP measures Overview FY 2020 GAAP FY 2020 NON - GAAP 2 ~$ 500 MILLION Market capitalization¹ The world’s largest publicly listed independent provider of global claims ma
Slide 14: Revenue Model
14 14 Fee for service Time and expense No underwriting risk 95%+ retention rate Capital light business (CAPEX = 3% of sales) Diverse client base 3 - 5 year contracts Revenue Model
Slide 15: Key Customers
15 15 Key Customers Crawford’s customer base includes the largest global insurance carriers as well as Fortune 1000 companies
Slide 16: Service line descriptions, customers and strategy
16 16 Description Customers Strategy • Adjust individual claims • Claim sizes vary from $500 to $5+ billion • Two units: 1. Major and complex claims (GTS) 2. Volume claims • Carriers of all sizes • MGAs • Lloyds • Benchmark in quality and expertise • Digitally enabled for efficiency • Broadest globa
Slide 17: Experienced Leadership Team
17 17 Rohit Verma Chief Executive Officer Andrew Bart President, Loss Adjusting International Joseph Blanco President Pat Van Bakel President, Canada & Loss Adjusting North America Larry Thomas Global President, Platform Solutions Mike Hoberman President, TPA Solutions: Broadspire North America Bene
Slide 18: Why Invest in Crawford?
18 18 Experienced leadership team averaging 30 years of experience in our field Secular tailwinds provided from continued growth in large loss claims Investing in digitization as a point of differentiation and driver of growth Well - positioned to benefit from a fragmented and consolidating market L
Slide 19: Industry Overview
Industry Overview Crawford
Slide 20: Competitive Landscape
20 20 Competitive Landscape UNIVERSAL 01 Competes with us across all elements of our business globally EMERGING 05 Recently entered the insurance industry and are disrupting the landscape REGIONAL 03 Competitors that only serve a specific region/geography GLOBAL 02 Compete in segments of our busines
Slide 21: Global Non-Life Insurance Market Size
21 21 2,195 1,182 3,376 Other Losses MARKET OPPORTUNITY ($B) GLOBAL NON - LIFE INSURANCE PREMIUM $219B+ Est. Loss Adjusting Expenses (LAE) Global Market Size Breakdown $62B+ Est. Total Addressable Market OUTSOURCED 30% ~1.5% CRAWFORD & COMPANY MARKET SHARE* *Market share calculation = Non - Life Pre
Slide 22: Adjusters Focus on Optimizing Loss Expenses for Carriers
22 22 Adjusters Focus on Optimizing Loss Expenses for Carriers (1) Net Premiums Written (NPW) Source: E&Y 2020 US P&C insurance performance analysis Crawford’s Focus Combined Ratio Sum of loss, loss adjustment expense (LAE) and underwriting expense ratios. Includes policyholder dividends (return of
Slide 23: Loss Adjuster is a Brand Extension of the Carrier
23 23 Loss Adjuster is a Brand Extension of the Carrier Claims Experience is Insurance Carrier’s “Moment of Truth” (1) Source: Accenture – Why Claims Service Matters? Customer satisfaction with the claims experience, and response to dissatisfaction ¹ Q: How satisfied are you with the way in which yo
Slide 24: Changes Leading to Increased Claims Outsourcing
24 24 Changes Leading to Increased Claims Outsourcing Claims outsourcing is highly dependent on the overall P&C market and continues to benefit from pressure on carriers to streamline cost structures and leverage third parties with specific expertise Downside reputational risk due to social and othe
Slide 25: P&C Carrier Premiums Growing Steadily but Margins Under Pressure
25 25 P&C Carrier Premiums Growing Steadily but Margins Under Pressure 484 592 709 400 450 500 550 600 650 700 750 2010 2015 2019 P&C Direct Written Premiums US$ bn Source: 2020 Insurance Factbook Breakeven Underwriting
Slide 26: Most Small Carriers are Under Pressure
26 26 2 % 63 % 6% 22% 92% 15% # of Carriers Total Premium Medium: $1B - $5B Small: Less than $1B Large: Greater than $5B ~98% of carriers are small to medium sized They have limited financial capacity • Insurance carriers currently operate with a large operating expense base, which is unsustainable
Slide 27: Auto Claims Frequency and CAT-Driven Losses Rising
27 27 Auto Claims Frequency and CAT - Driven Losses Rising (1) Total physical damage claims closed with or without loss payments (2) SwissRe 41M 43M 46M 48M 52M 55M 58M 60M 62M 2010 2011 2012 2013 2014 2015 2016 2017 2018 Annual Auto Claims U.S. Auto Claims Frequency ¹ 166 169 172 175 178 181 184 18
Slide 28: Coastline Population Steadily Growing
28 28 Coastline Population Steadily Growing 51.9 54.9 60.2 50 52 54 56 58 60 62 2000 2008 2017 Atlantic And Gulf of Mexico Coastline County Population, 2000 - 2017 (Millions) Source: 2020 Insurance Factbook
Slide 29: Investing in Innovation
29 Investing in Innovation
Slide 30: Crawford is Partnering with Leading Insurtechs
30 Crawford is Partnering with Leading Insurtechs Smart Water Meters Property Measurement and 3 - D Modeling Digital Desk for Interior Property Claims Homeowners Insurance Automate and Expedite Claim Handling via Mobile Enables Digitalization of Estimate Review Process Enables Digitalization of Esti
Slide 31: Investing to Drive Innovation and Accelerate Growth
31 31 Investing to Drive Innovation and Accelerate Growth Crawford improves the claims journey via workflow automation, enhanced data and analytics, reduced cycle times and superior q ual ity Enabling Technology ¹ Key Benefits Robotic Process Automation Automates workflows and repetitive tasks throu
Slide 32: Improve Expense, Accuracy and Speed of Delivery
32 32 Improve Expense, Accuracy and Speed of Delivery Powered by digitization, best - in - class quality and industry - leading claims expertise, Crawford’s customer - centric claims solutions deliver rapid, accurate claim resolution to reduce costs and improve your customer’s experience OMNI - CHAN
Slide 33: Delivering Customer Satisfaction Through Speed and Technology
33 33 Delivering Customer Satisfaction Through Speed and Technology OnSite contact web app Looker app YouGoLook self - service app
Slide 34: Crawford Digital Assist services
34 POLICYHOLDER SELF SERVICE Policyholders submit images & information via self - service apps. • Self - service inspection • 3D property scan Crawford Digital Assist Order Crawford services and solutions in the US quickly and easily on the web ON - DEMAND SERVICES Instantly connect with resources t
Slide 35: Growth Strategy
Growth Strategy Crawford
Slide 36: Fragmented Market Presents Consolidation Opportunities
36 Fragmented Market Presents Consolidation Opportunities Consolidation Opportunity: >1,500 firms with average revenue of $1.25m (1) Based on $4 billion TAM Estimate, Stoneridge, IBIS World: Crawford Internal Estimates; Figures are approximate (2) U.S. revenues of Loss Adjusting and Networks (3) >$1
Slide 37: M&A Strategy
37 37 Acquire ancillary services to bolster presence in property claim ecosystem Bolster technical capabilities by attracting top - tier technical adjusting talent globally Consolidate fragmented independent loss adjusting market in the U.S. Increase presence in rapidly growing P&C insurance markets
Slide 38: M&A Timeline
38 38 M&A Timeline Contractor Connection Acquisition 1999 Created the industry leader in managed repair solutions Broadspire Acquisition 2006 Supported our mission of becoming the leading third - party administrator in all segments of the market for casualty claims program administration GAB Robins
Slide 39: Strategic M&A Supports Growth
39 39 Strategic M&A Supports Growth Crawford Carvallo • Acquired Crawford Carvallo in October 2020, recognized as the market leader in loss adjusting, claims management solutions and legal services in Chile • Identified synergies and regional business development opportunities which will further enh
Slide 40: Acquihire Case Study: Penta
40 40 “Acquihire” Case Study: Penta Investment Thesis: To enhance the service scope and market position in an important Tier II country by ‘ acqui - hiring’ credible and experienced GTS adjuster talent • Solidify position in the competitor landscape comprised of three big players (Crawford, Sedgwick
Slide 41: Financial Overview
41 41 Financial Overview
Slide 42: Improvement in Quality of Earnings and Business Mix
42 Improvement in Quality of Earnings and Business Mix TPA: Broadspire segment loss - making post acquisition Significant operational improvements at TPA: Broadspire; Garden City Group (GCG) wind - down of highly profitable Deep Water Horizon contract GCG sold in 2018 to focus on core loss - adjusti
Slide 43: Disciplined Capital Allocation
43 Disciplined Capital Allocation Capital Allocation 2016 – 2020¹ Focused on driving long - term value through our capital allocation strategy $260 M $60 M Free Cash Flow + Disposals Share Repurchases Debt Repayment 2 Dividends $50 M $95 M $55 M M&A Capital Allocation Highlights • Built strong cash
Slide 44: Net Debt and Pension Liability
44 44 (1) As of 12/31/2020 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 200,000 2015 2016 2017 2018 2019 2020 Net Debt ¹ 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 2015 2016 2017 2018 2019 2020 Pension Liability ¹ $68.9 million $53.9 million Net debt at $68.9 mill
Slide 45: Environmental, Social and Governance
45 Environmental, Social and Governance
Slide 46: Environmental, Social and Governance
46 46 Environmental, Social and Governance Crawford is committed to addressing those ESG factors most material to our operations Continuing to look for opportunities across our enterprise to become more socially responsible and are increasingly integrating ESG best practices into our operations Data
Slide 47: Inclusion and Diversity
47 47 Inclusion and Diversity Established Employee Resource Groups and an Employee Advisory Council aligned with our purpose to foster a safe and inclusive working environment, where employees can bring their authentic selves to work and offer unique experiences and perspectives Human Capital Develo
Slide 48: Employee Advisory Council
48 48 Employee Advisory Council This council aligns with our mission to foster a safe and inclusive working environment where employees can bring their authentic selves to work and offer unique experiences and perspectives. Membership in the Business Insurance Diversity and Inclusion Institute The o
Slide 49: Employee benefit programs
49 49 Crawford employees across the globe receive benefit programs that support financial, physical and mental wellness. These programs may include: Free Membership to Headspace ( https://www.headspace.com/ ) which provides life changing skills of meditation and mindfulness through simple exercises
Slide 50: Training and Engagement
50 50 Training and Engagement Training and Education From its inception, Crawford has led the industry in state - of - the - art training programs that continue to this day through Crawford Educational Services (CES). Crawford offers over 300 hours of courses through its online learning management p
Slide 51: Global Service Lines: Loss Adjusting
51 Global Service Lines: Loss Adjusting
Slide 52: Crawford Loss Adjusting
52 *First Notice of Loss Crawford Loss Adjusting For clients seeking to increase policyholder satisfaction across the full spectrum of loss adjusting needs, Crawford is the one - stop - shop delivering efficiency and savings through unmatched experience, specialized expertise and digitally - enabled
Slide 53: Complex Claims Loss Adjusting
53 Complex Claims Loss Adjusting Expertise Focused Time & Expense Billing Model World’s Largest Technical Adjuster Network Recession - Resistant Complex Property Forensic Accounting CFAS Construction Marine Engineering Casualty Cyber & Technology Aviation Oil & Energy Agriculture Product Areas
Slide 54: Triage Model Reduces Adjusting Time and Costs
54 54 Triage Model Reduces Adjusting Time and Costs Reduce cost and accelerate time in process with end - to - end handling of self - service, on - demand, and field adjusting needs Reduce time savings by 67% (Process claims in as little as 3.7 days) Reduce costs by up to 28% Claims Mix: 50% WeGoLoo
Slide 55: Outsourced Claims Advantage Case Study: Vineyard
55 55 Outsourced Claims Advantage Case Study: A Vineyard impacted by the California wildfires Background o The 2017 California wildfires approached an unprecedented $12 billion of insured losses o A historic number of fires burned over 500,000 acres causing damage to almost 30 wineries in Napa, Sono
Slide 56: Belmond (UK) Limited
56 56 Belmond (UK) Limited Leveraging Crawford’s integrated solutions Background • Belmond La Samanna and Belmond Cap Juluca were left devastated by the powerful hurricanes of 2017 • Strong winds and sea surges caused significant property damage and interrupted business • As major employers in the l
Slide 57: Global Service Lines: Platform Solutions
57 Global Service Lines: Platform Solutions
Slide 58: Crawford Platform Solutions
58 Crawford Platform Solutions For clients looking for speed, cost savings, customer satisfaction and quality through end - to - end digitized solutions, Crawford Platform Solutions is reimagining claims management by uniquely architecting networks, technology and Insurtech innovations. *First Notic
Slide 59: Digital FNOL, Digital Assist, Digital Desk, Asservio
59 Digital FNOL Digital Assist Digital Desk* Asservio • Digital claim intake process • Increased scale & efficiency in claim capture • Omni - Channel approach: Web, SMS, Alexa, iOT sensors • Assisted self - service ( YouGoLook )* • On - demand field inspection services (ladder assist / interior) • D
Slide 60: Contractor Connection: Total Addressable Market
60 (1) Crawford internal estimates Contractor Connection: Total Addressable Market Market and Competitive Dynamics Carrier use of Managed Repair Program in North America could rise to above 50% in 10 years Increased interest in contractor managed repair for large, mid and small - sized carriers Succ
Slide 61: Competitive Landscape
Competitive Landscape * < CLAIMS »vericlaim CONSORTIUM M repair solutions ’& Group MA GROUP Stivices CONTRACTOR saat ig NM. saw Boichisey ove — westhill. \ a Crawford
Slide 62: Contractor Connection Customer Experiences
62 62 Contractor Connection Customer Experiences Improving the claims experience and delighting customers • Reduce time - in - process through innovative on - demand services and new technologies • Delight customers with an intuitive self - service experience with personal assistance when needed • I
Slide 63: Global Service Lines: TPA: Broadspire
63 Global Service Lines: TPA: Broadspire
Slide 64: Crawford TPA: Broadspire
64 Crawford TPA: Broadspire For companies looking to enhance the claims experience and drive quantifiable savings, TPA: Broadspire is the third party administrator that delivers client - centric integrated outsourced solutions powered by innovation and data science. Workers Compensation Auto/ Motor
Slide 65: Strong Customer Relationships
65 Strong Customer Relationships A recent study by Hynes Associates found that 95% of TPAs report client retention rates in excess of five years . Approximately 50% of those surveyed indicated the client tenure was five to nine years with the remainder of those ranging from 10 to 20 years. $15 $17 $
Slide 66: Streamlined Approach to Casualty Claim Solutions
66 15% reduction in average paid when using full clinical & analytical claim model 98% return - to - work rate with case management program 8.5% savings in average incurred with litigation predictive model Claim Resolution Desk Adjuster Omni - channel FNOL*/ Intake Intelligent Triage WeGoLook On - d
Slide 67: Cents Only Stores
67 67 99 Cents Only Stores Background • 99 Cents Only Stores is a deep - discount retailer with more than 350 stores in four states • As a retailer with over 17,000 employees, 99 Cents Only Stores struggled to manage the large number of employee injuries caused by overexertion, repetitive strain, sl
Slide 68: Conclusion
Conclusion Crawford
Slide 69: Why Invest in Crawford?
69 69 Experienced leadership team averaging 30 years of experience in our field Secular tailwinds provided from continued growth in large loss claims Investing in digitization as a point of differentiation and driver of growth Well - positioned to benefit from a fragmented and consolidating market L
Slide 70: 2021 Priorities
70 70 Employee Health & Safety Protect our workforce first and foremost Customer Excellence Provide best - in - class service to our clients regardless of the global environment Brands, Relationships & Differentiation Maintain industry leadership through our innovations and market leading solutions
Slide 71: Appendix A: Full Year 2020 Consolidated Financial Results
71 Appendix A: Full Year 2020 Consolidated Financial Results
Slide 72: Full Year 2020 Financial Summary
72 72 (1) See appendix for non - GAAP explanation and reconciliation of non - GAAP measures. 72 Year Ended December 31 , December 31 , ($ in millions, except per share amounts) 20 20 201 9 % Change Revenues $ 982.5 $ 1,005.8 (2%) Net Income Attributable to Shareholders of Crawford & Company $ 28.3 $
Slide 73: Balance Sheet Highlights
73 73 (1) See Appendix for non - GAAP explanation and reconciliation 73 Unaudited ($ in thousands) December 31 , 20 20 December 31, 201 9 Change Cash and cash equivalents $ 44,656 $ 51,802 $ (7,146 ) Accounts receivable, net 123,060 128,217 ( 5,157 ) Unbilled revenues, net 103,528 103,894 (366) Tota
Slide 74: Cash flow and free cash flow
74 74 (1) See Appendix for non - GAAP explanation and reconciliation 74 Unaudited ($ in thousands) 20 20 201 9 Change Net Income Attributable to Shareholders of Crawford & Company $ 28,296 $ 12,485 $ 15,811 Goodwill Impairment 17,674 17,484 190 Gain on Disposition of Businesses, Net (13,763 ) — (13,
Slide 75: Appendix B: Global Service Lines
75 Appendix B: Global Service Lines
Slide 76: Loss Adjusting Highlights and Operating Results
76 76 76 Highlights • Launched new digital solutions across all our operations • Focused on expanding through recruitment of teams and M&A in GTS • Solid margin expansion during 2020 Operating Results (FY 2020 v. FY 2019) • Revenues of $438.5 million versus $457.5 million • Gross profit of $118.9 mi
Slide 77: Platform Solutions Highlights and Operating Results
77 77 77 Highlights • Launched cutting - edge estimate review platform in Contractor Connection • Traction with new carrier clients in the US delivered the strongest second half in recent history for Contractor Connection • Highest ever look volume in 2020 for WeGoLook , driven by improved client up
Slide 78: TPA Solutions Highlights and Operating Results
78 78 78 Highlights • Ongoing investment in new technologies and client service capabilities • US client retention for 2020 was 96% • Focused on digitization and developing integrated solutions for our global clients Operating Results (FY 2020 v. FY 2019) • Revenues of $371.4 million versus $397.6 m
Slide 79: Appendix C: Non-GAAP Financial Information
79 Appendix C: Non - GAAP Financial Information
Slide 80: Non-GAAP measures and reimbursements
80 80 Measurements of financial performance not calculated in accordance with GAAP should be considered as supplements to, and not sub stitutes for, performance measurements calculated or derived in accordance with GAAP. Any such measures are not necessarily comparable to other similar ly - titled m
Slide 81: Segment Gross Profit and Adjusted EBITDA definitions
81 81 Segment and Consolidated Gross Profit Gross profit is defined as revenues less direct expenses which exclude indirect overhead expenses allocated to the business. Ind irect expenses consist of centralized administrative support costs, regional and local shared services that are allocated to ea
Slide 82: Total Revenues Before Reimbursements by Major Currency
82 82 Total Revenues Before Reimbursements by Major Currency The following table illustrates revenue as a percentage of total revenue in the major currencies of the geographic areas in which Crawford does business: Twelve Months Ended ( in thousands ) December 31, 2020 December 31, 2019 Geographic A
Slide 83: Reconciliation of Non-GAAP Items
83 83 Year Ended Yea r Ended December 3 1 , December 31 , Unaudited ($ in thousands) 20 20 20 19 Revenues Before Reimbursements Total Revenues $ 1,016,195 $ 1,047,627 Reimbursements ( 33,703 ) ( 41,825 ) Revenues Before Reimbursements 982,492 1,005,802 Costs of Services Provided, Before Reimbursemen
Slide 84: Adjusted EBITDA
84 84 ) Year Ended December 31 , December 3 1 , Unaudited ($ in thousands) 20 20 201 9 Net income (loss) attributable to shareholders of Crawford & Company $ 28,296 $ 12,485 Add: Depreciation and amortization 40,111 40,513 Stock - based compensation 4,384 14,109 Net corporate interest expense 7 , 92
Slide 85: Net Debt
85 85 December 31 , December 31, Unaudited ($ in thousands) 20 20 201 9 Net Debt Short - term borrowings $ 1,570 $ 2 8,531 Current installments of finance leases and other obligations 267 15 Long - term debt and finance leases, less current installments 111,758 1 48 , 408 Total debt 113,595 1 76 , 9
Slide 86: Segment gross profit reconciliation
86 86 Year ended ( $ in thousands) December 31 , 20 20 December 31 , 20 29 Segment gross profit: Crawford Loss Adjusting $ 118,853 $ 116,827 Crawford Platform Solutions 43,619 41,944 Crawford TPA Solutions 76,665 89,276 Segment gross profit 239 , 137 248,047 Segment indirect costs: Crawford Loss Adj
Slide 87: Non-GAAP Earnings per Share
87 87 Year Ended December 3 1 , 20 20 Unaudited ($ in thousands) Revenues Non - GAAP Operating Earnings Pretax Earnings Net Income Attributable to Crawford & Company Diluted Earnings per CRD - A Share Diluted Earnings per CRD - B Share GAAP $ 982,492 $ 71,830 $ 39,088 $ 28,296 $ 0. 54 $ 0. 52 Adjust
Slide 88: Appendix D: Additional Case Studies
88 Appendix D: Additional Case Studies
Slide 89: Florida Carrier Claim Operations Takeover
89 89 Quantifiable Impact on Savings & Policyholder Experience Case Study: Florida Carrier Claim Operations Takeover Carrier Requirements Self - Service On - Demand Managed Repair 3,500 hurricane claims taken over Reduced cycle time Florida, North Carolina & South Carolina 90% Claim Volume Reduced c
Slide 90: Dedicated team eliminates quality concerns facing carrier
90 Challenge A large insurance carrier, facing strong regional competition, seeks to address quality issues prompted by depleted resources and disparate pricing. Solution Crawford established a remote office in proximity of the carrier, staffed by a dedicated workforce of adjusters and claims manage
Slide 91: Expediting return-to-work with predictive analytics
91 Challenge A national staffing firm was experiencing long claim durations and high numbers of older, open claims. TPA: Broadspire and the client established goals including a 6% reduction in loss pick and a 15% reduction in open inventory. Solution TPA: Broadspire’s claims director worked with int
Slide 92: Nurses heal financial burden
92 Challenge A national discount retailer was experiencing an unusually high rate of workers compensation claims. If not addressed immediately, the company would suffer significant financial losses putting the business as risk. Solution Crawford leveraged its TPA division, Broadspire, to implement o
Slide 93: High-value quality and efficiency
93 High - value quality and efficiency High Net Worth | Contractor Connection | Emergency Services Challenge An electrical fire caused more than $1M in damage to the home of a high - profile celebrity property owner. There was significant structural and smoke damage throughout the home, and high - v
Slide 94: Building a superior claims management program
94 Challenge A large real estate developer, with over 11,000 high - end apartment properties, looks to Crawford to refine their current claims protocols with industry - leading services. Solution Under the guidance of Crawford’s Global Technical Services, Crawford quickly identified areas of opportu