Crawford & Company · NYSE:CRD.A
Crawford & — Investor Presentation (July 2021)
94 slides from Crawford &'s investor presentation, July 2021
Slide 1: Crawford 101
Crawford Crawford 101 July 2021
Slide 2: Forward-Looking Statements and Additional Information
Forward-Looking Statements and Additional Information 2 Forward-Looking Statements This presentation contains forward-looking statements, including statements about the expected future financial condition, results of operations and earnings outlook of Crawford & Company. Statements, both qualitative
Slide 3: Table of Contents
3 Table of Contents 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:
Slide 4: Introduction to Crawford & Company
4 Introduction to Crawford & Company
Slide 5: Who We Are
Who We Are 5 The world’s largest publicly listed independent provider of global claims management and outsourcing solutions. $18 BILLION+ 1.6 MILLION 9,000 Claims managed annually Claims handled Total employees BY MARKET¹ BY GLOBAL SERVICE LINES BY GEOGRAPHY 58%⎹ US 44%⎹ Loss Adjusting 9%⎹ Canada 35
Slide 6: Our History
Our History 6 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. Our Purpose 1968
Slide 7: What We Do
7 What We Do Crawford delivers services to its clients through a global BY GLOBAL SERVICE LINES service line reporting structure consisting of three operating segments: • Loss Adjusting (Property / Auto / Liability) • Vehicle & Heavy Equipment Inspections 44%⎹ Loss Adjusting • Casualty Large & Compl
Slide 8: Global coverage that goes beyond borders
Global coverage that goes beyond borders. 8 70 countries 9K Employees worldwide 50K field resources 6K network contractors
Slide 9: Crawford Bridges the Gap Between Risk Bearers and Claimants
Crawford Bridges the Gap Between Risk Bearers and Claimants 9 Risk Bearers Claims Ecosystem Claimants Carriers Retail Customers Self-Insured Corporation Corporations Employees Captive Corporation Insurers Insured We close the gap for our customers: Expertise Scale Proximity
Slide 10: Why is Crawford Needed?
Why is Crawford Needed? 10 Expertise • Large loss claims in particular require technical subject matter expertise like forensics, Carriers engineering, energy which may not always be available in-house at a carrier or self-insured corporate Capacity • Independent adjustors (“IA”) provide flexible ca
Slide 11: Why is Crawford Needed? Carriers
Why is Crawford Needed? 11 CARRIERS Accuracy, Quality and Expertise Timeliness and Capacity • Claims experience is an extension of a carrier’s brand • We have the capacity and scale to be there when needed • War on talent and increasing claims complexity has amplified need • Independent adjusters pr
Slide 12: Why is Crawford Needed? Corporates
Why is Crawford Needed? 12 CORPORATES Accuracy, Quality and Expertise Timeliness and Capacity • Bonus program for adjusters based on systematic and manual • 24/7 nurse triage program helps injured worker with self-care quality reviews options and seamless transfers to intake • Cross-functional servi
Slide 13: Financial Snapshot
Financial Snapshot 13 The world’s largest publicly listed independent provider of global claims management solutions Overview FY 2020 GAAP $982.5 MILLION $28.3 MILLION CRD-A & CRD-B Revenues before reimbursements Net income NYSE Ticker FY 2020 NON-GAAP2 ~$500 MILLION Market capitalization¹ $104.8 MI
Slide 14: Revenue Model
Revenue Model 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
Slide 15: Key Customers
Key Customers 15 Crawford’s customer base includes the largest global insurance carriers as well as Fortune 1000 companies
Slide 16: Evolving Crawford's Strategy for Long-term Growth
Evolving Crawford’s Strategy for Long-term Growth 16 Description Customers Strategy • Adjust individual claims • Carriers of all sizes • Benchmark in quality and expertise • Claim sizes vary from $500 to $5+ billion • MGAs • Digitally enabled for efficiency • Two units: • Lloyds • Broadest global re
Slide 17: Experienced Leadership Team
Experienced Leadership Team 17 With an average of 30+ years of experience, Crawford’s strong and seasoned leadership team leverages its extensive knowledge and industry experience to drive our business Rohit Verma Joseph Blanco Andrew Bart Benedict Burke Mike Hoberman Mike Jones Chief Executive Offi
Slide 18: Why Invest in Crawford?
Why Invest in Crawford? 18 Crawford’s leading market position in an evolving landscape provides a compelling investment narrative Experienced leadership team averaging 30 years of experience in our field Secular tailwinds provided from continued growth in large loss claims Investing in digitization
Slide 19: Industry Overview
Industry Overview Crawford
Slide 20: Competitive Landscape
Competitive Landscape 20 01 03 04 UNIVERSAL REGIONAL NICHE Competes with us across all elements Competitors that only serve a specific region/geography Competitors in specific geographies that of our business globally vary by size United States United Kingdom 02 Canada 05 GLOBAL EMERGING Australia C
Slide 21: Global Non-Life Insurance Market Size
Global Non-Life Insurance Market Size 21 MARKET OPPORTUNITY ($B) Other Losses 3,376 Global Market Size Breakdown $219B+ Est. Loss Adjusting Expenses (LAE) 2,195 30% GLOBAL NON-LIFE INSURANCE OUTSOURCED $62B+ Est. Total Addressable Market PREMIUM 1,182 ~1.5% CRAWFORD & COMPANY MARKET SHARE* *Market s
Slide 22: Adjusters Focus on Optimizing Loss Expenses for Carriers
Adjusters Focus on Optimizing Loss Expenses for Carriers 22 Combined Ratio Sum of loss, loss adjustment expense (LAE) and underwriting expense ratios. Includes policyholder dividends (return of premium) as a percentage of NPW¹ Underwriting Expense Total Loss Sum of all expenses related to acquiring
Slide 23: Loss Adjuster is a Brand Extension of the Carrier
Loss Adjuster is a Brand Extension of the Carrier 23 Claims Experience is Insurance Carrier’s “Moment of Truth” Likelihood of switching providers, by claims satisfaction¹ Customer satisfaction with the claims experience, and response to dissatisfaction¹ Q: How likely are you to stop doing business w
Slide 24: Changes Leading to Increased Claims Outsourcing
Changes Leading to Increased Claims Outsourcing 24 Claims outsourcing is highly dependent on the overall P&C market and continues to benefit from 1 pressure on carriers to streamline cost structures and leverage third parties with specific expertise Downside reputational risk due to social and other
Slide 25: P&C Carrier Premiums Growing Steadily but Margins Under Pressure
P&C Carrier Premiums Growing Steadily but Margins Under 25 Pressure P&C Direct Written Premiums US$ bn 750 709 700 650 592 600 550 Breakeven Underwriting 500 484 450 400 2010 2015 2019 Source: 2020 Insurance Factbook
Slide 26: Most Small Carriers are Under Pressure
Most Small Carriers are Under Pressure 26 ~98% of carriers are small to medium sized They have limited financial capacity Carriers with less than $1B have limited capacity and scale to 15% invest in innovation 22% Commission 15% 92% Losses1 65% 3% Premium Taxes 17% 63% Other Expenses 6% 2% Investmen
Slide 27: Auto Claims Frequency and CAT-Driven Losses Rising
Auto Claims Frequency and CAT-Driven Losses Rising 27 U.S. Auto Claims Frequency¹ Catastrophe-related insured losses 62M Annual Auto Claims 58M 60M 52M 55M (1970-2020)² 46M 48M 41M 43M 2010 2011 2012 2013 2014 2015 2016 2017 2018 Rising Cost of Auto Claims 192 Motor Vehicle Repair CPI 188 184 181 17
Slide 28: Coastline Population Steadily Growing
Coastline Population Steadily Growing 28 Atlantic And Gulf of Mexico Coastline County Population, 2000-2017 (Millions) 62 60.2 60 58 56 54.9 54 51.9 52 50 2000 2008 2017 Source: 2020 Insurance Factbook
Slide 29: Investing in Innovation
Investing in Innovation Crawford
Slide 30: Crawford is Partnering with Leading Insurtechs
Crawford is Partnering with Leading Insurtechs 30 Property Measurement and Automate and Expedite Digital Desk for Interior 3-D Modeling Claim Handling via Mobile Property Claims Smart Water Homeowners Insurance Meters Enables Digitalization of One-stop Information Estimate Review Process Portal for
Slide 31: Investing to Drive Innovation and Accelerate Growth
Investing to Drive Innovation and Accelerate Growth 31 Enabling Technology¹ Key Benefits Robotic Process Automation Automates workflows and repetitive tasks throughout claims process Key Benefits Legend API Integrations Integrates internal and external data sources to support automation of workflows
Slide 32: Improve Expense, Accuracy and Speed of Delivery
Improve Expense, Accuracy and Speed of Delivery 32 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 LOSS OMNI- INTELLIGENT
Slide 33: Delivering Customer Satisfaction Through Speed and Technology
Delivering Customer Satisfaction Through Speed and 33 Technology OnSite contact web app Looker app YouGoLook self-service app
Slide 34: Crawford Digital Assist
Crawford Digital Assist 34 Order Crawford services and solutions in the US quickly and easily on the web POLICYHOLDER ON-DEMAND CONTRACTOR ADJUSTER EXPERT SELF SERVICE SERVICES SERVICES SERVICES SERVICES Policyholders submit Instantly connect with Take claims all the Tap into our vast For specialize
Slide 35: Growth Strategy
Growth Strategy Crawford
Slide 36: Fragmented Market Presents Consolidation Opportunities
Fragmented Market Presents Consolidation Opportunities 36 US P&C Loss Adjusting Market Share¹ 60 50% 50 43% 40 Consolidation Opportunity: 30 >1,500 firms with average revenue of 20 $1.25m 10 7% 0 3 Independent Adjusters Crawford ² Other Large Players (1) Based on $4 billion TAM Estimate, Stoneridge,
Slide 37: M&A Strategy
M&A Strategy 37 Increase presence in Bolster technical Consolidate Acquire ancillary rapidly growing P&C capabilities by fragmented services to bolster insurance markets with attracting top-tier independent loss presence in property strong outsourced technical adjusting adjusting market in claim eco
Slide 38: M&A Timeline
M&A Timeline 38 Contractor Acquisition 1999 Created the industry leader in managed repair solutions Connection Supported our mission of becoming the leading third-party administrator in all Broadspire Acquisition 2006 segments of the market for casualty claims program administration Expanded our cla
Slide 39: Strategic M&A Supports Growth
Strategic M&A Supports Growth 39 Reinvigorated M&A Pipeline 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 opportunitie
Slide 40: "Acquihire" Case Study: Penta
“Acquihire” Case Study: Penta 40 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 Penetrate GTS Market in Belgium • Solidify position in the competitor landscape comprised of three big p
Slide 41: Financial Overview
Financial Overview Crawford
Slide 42: Improvement in Quality of Earnings and Business Mix
Improvement in Quality of Earnings and Business Mix 42 Crawford Operating Earnings Business Mix* (2010-2019) 100% Significant GCG sold in 2018 operational to focus on core 80% improvements at loss-adjusting and TPA: Broadspire; TPA businesses; 52% Garden City 59% TPA: Broadspire Group (GCG) 67% 60%
Slide 43: Disciplined Capital Allocation
Disciplined Capital Allocation 43 Focused on driving long-term value through our capital allocation strategy Capital Allocation 2016 – 2020¹ $260 M $60 M Capital Allocation Highlights Disposals $63M $60 M • Built strong cash generation $50 M • Continued to deliver value to shareholders in the form o
Slide 44: Net Debt and Pension Liability
Net Debt and Pension Liability 44 Net Debt¹ Pension Liability¹ 200,000 $171.2 million 140,000 180,000 120,000 160,000 140,000 100,000 $121.7 million 120,000 80,000 100,000 80,000 60,000 60,000 40,000 $68.9 million $53.9 million 40,000 20,000 20,000 0 0 2015 2016 2017 2018 2019 2020 2015 2016 2017 20
Slide 45: Environmental, Social and Governance
45 Environmental, Social and Governance
Slide 46: Environmental, Social and Governance
Environmental, Social and Governance 46 Crawford is committed to addressing those ESG factors most material to our operations Human Capital Professional Integrity Data Privacy & Environmental Management & & Corporate Security Stewardship Diversity Governance Continuing to look for opportunities acro
Slide 47: Environmental, Social and Governance
Environmental, Social and Governance 47 Crawford believes in giving back to the communities we serve and responsibly stewarding our resources Inclusion and Diversity Established Employee Resource Groups and an Employee Advisory Council aligned with our purpose to foster a safe and inclusive working
Slide 48: Inclusion and Diversity
Inclusion and Diversity 48 Employee Advisory Council Membership in the Business Insurance This council aligns with our mission to foster a safe Diversity and Inclusion Institute and inclusive working environment where The organisation is dedicated to promoting and employees can bring their authentic
Slide 49: Health and Wellness
Health and Wellness 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 si
Slide 50: Training and Engagement
Training and Engagement 50 Training and Education 300 hours of online courses 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 le
Slide 51: Global Service Lines: Loss Adjusting
51 Global Service Lines: Loss Adjusting
Slide 52: Crawford Loss Adjusting
Crawford Loss Adjusting 52 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 solutions. Property Casualt
Slide 53: Complex Claims Loss Adjusting
Complex Claims Loss Adjusting 53 Product Areas Complex Property Forensic Accounting CFAS Time & Expense Billing Expertise Focused Construction Model Marine Engineering Casualty Cyber & Technology World’s Largest Technical Recession-Resistant Aviation Adjuster Network Oil & Energy Agriculture
Slide 54: Triage Model Reduces Adjusting Time and Costs
Triage Model Reduces Adjusting Time and Costs 54 Reduce cost and accelerate time in process with end-to-end handling of self-service, on-demand, and field adjusting needs Reduce time Reduce costs by savings by 67% up to 28% (Process claims in as little as 3.7 days) Claims Mix: 50% WeGoLook Users; 30
Slide 55: Outsourced Claims Advantage
Outsourced Claims Advantage 55 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, Sonoma
Slide 56: Belmond (UK) Limited
Belmond (UK) Limited 56 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 loca
Slide 57: Global Service Lines: Platform Solutions
57 Global Service Lines: Platform Solutions
Slide 58: Crawford Platform Solutions
Crawford Platform Solutions 58 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. Managed Adjuster
Slide 59: Crawford Platform Solutions
Crawford Platform Solutions 59 From FNOL to finished repair, our commitment is to provide digitized claim platforms that reimagine and simplify the claims process resulting in elevated customer experience outcomes Digital X iOT RPA Escape of Alexa Job Track Asservio Renovo Water Digital FNOL Digital
Slide 60: Contractor Connection: Total Addressable Market
Contractor Connection: Total Addressable Market 60 Managed Repair Has Significant Growth Headroom Market and Competitive Dynamics North America Managed Repair Penetration(1) 60% Carrier use of Managed Repair Program in North 50% America could rise to above 50% in 10 years 50% Increased interest in c
Slide 61: Competitive Landscape
Competitive Landscape : . CLAIMS »vericlaim CONSORTIUM repair solutions ~~ Group Aum =Nexus _0_ CONTRACTOR PtP LaA ao MA... westhip Baictisev multiasistencia a GENPACT company Crawford 61 codebLue
Slide 62: Contractor Connection Customer Experiences
Contractor Connection Customer Experiences 62 Improving the claims experience and delighting customers • Deep engagement with JD Powers to continually innovate and improve customer • Reduce time-in-process through innovative on-demand satisfaction services and new technologies • Delight customers wi
Slide 63: Global Service Lines: TPA: Broadspire
63 Global Service Lines: TPA: Broadspire
Slide 64: Crawford TPA: Broadspire
Crawford TPA: Broadspire 64 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 Auto/ General Medical Legal
Slide 65: Workers Comp Claim Severity Rising
Workers Comp Claim Severity Rising 65 WC Lost-Time Claim Severity ($ in billions)¹ Strong Customer $60 Relationships $50 A recent study by Hynes Associates found that 95% of TPAs $40 $29 $30 $28 $28 report client retention rates in $25 $26 $27 excess of five years. $30 $22 Approximately 50% of those
Slide 66: Streamlined Approach to Casualty Claim Solutions
Streamlined Approach to Casualty Claim Solutions 66 From Intake, claims are routed to the appropriate claim office by line of business and jurisdiction Omni-channel Desk Adjuster FNOL*/ Intake WeGoLook Claim Office On-demand Services Claim Team Manager Resolution Medical Management Dedicated or desi
Slide 67: 99 Cents Only Stores
99 Cents Only Stores 67 Background • 99 Cents Only Stores is a deep-discount retailer with more than 350 stores in four states • As a retailer with over 17,000 employees, 99 Cents Only Stores struggled to manage the large number of employee injuries caused by overexertion, repetitive strain, slips a
Slide 68: Conclusion
Conclusion Crawford
Slide 69: Why Invest in Crawford?
Why Invest in Crawford? 69 Crawford’s leading market position in an evolving landscape provides a compelling investment narrative Experienced leadership team averaging 30 years of experience in our field Secular tailwinds provided from continued growth in large loss claims Investing in digitization
Slide 70: 2021 Priorities
2021 Priorities 70 Employee Customer Brands, Health & Safety Excellence Relationships & Future Growth Differentiation Protect our Provide best-in-class Maintain industry Deliver superior workforce first and service to our leadership through results for our foremost clients regardless of our innovati
Slide 71: Appendix A: Full Year 2020 Consolidated Financial Results
71 Appendix A: Full Year 2020 Consolidated Financial Results
Slide 72: Full Year 2020 Financial Summary
72 Full Year 2020 Financial Summary 72 Year Ended December 31, December 31, ($ in millions, except per share amounts) 2020 2019 % Change Revenues $982.5 $1,005.8 (2%) Net Income Attributable to Shareholders of Crawford & Company $28.3 $12.5 127% Diluted Earnings per Share CRD-A $0.54 $0.26 108% CRD-
Slide 73: Balance Sheet Highlights
73 Balance Sheet Highlights 73 December 31, December 31, Unaudited ($ in thousands) 2020 2019 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) Total receivables 226,588 232,111 (5,523) Goodwill
Slide 74: Operating and Free Cash Flow
74 Operating and Free Cash Flow 74 For the year to date periods ended December 31, Unaudited ($ in thousands) 2020 2019 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
Slide 75: Appendix B: Global Service Lines
75 Appendix B: Global Service Lines
Slide 76: Crawford Loss Adjusting
76 Crawford Loss Adjusting 76 Year ended (in thousands, except percentages) December 31, 2020 December 31, 2019 Variance Revenues $438,491 $457,484 (4.2%) Highlights Direct expenses 319,638 340,657 (6.2%) • Launched new digital solutions across all our operations • Focused on expanding through recru
Slide 77: Crawford Platform Solutions
77 Crawford Platform Solutions 77 Year ended (in thousands, except percentages) December 31, 2020 December 31, 2019 Variance Highlights • Launched cutting-edge estimate review platform in Revenues $172,609 $150,692 14.5% Contractor Connection • Traction with new carrier clients in the US delivered t
Slide 78: Crawford TPA: Broadspire
78 Crawford TPA: Broadspire 78 Year ended (in thousands, except percentages) December 31, 2020 December 31, 2019 Variance Revenues $371,392 $397,626 (6.6%) Highlights Direct expenses 294,727 308,350 (4.4%) • Ongoing investment in new technologies and client service capabilities • US client retention
Slide 79: Appendix C: Non-GAAP Financial Information
79 Appendix C: Non-GAAP Financial Information
Slide 80: Appendix: Non-GAAP Financial Information
80 Appendix: Non-GAAP Financial Information Measurements of financial performance not calculated in accordance with GAAP should be considered as supplements to, and not substitutes for, performance measurements calculated or derived in accordance with GAAP. Any such measures are not necessarily comp
Slide 81: Appendix: Non-GAAP Financial Information (cont.)
81 Appendix: Non-GAAP Financial Information (cont.) Segment and Consolidated Gross Profit Gross profit is defined as revenues less direct expenses which exclude indirect overhead expenses allocated to the business. Indirect expenses consist of centralized administrative support costs, regional and l
Slide 82: Total Revenues Before Reimbursements by Major Currency
82 Total Revenues Before Reimbursements by Major Currency The following table illustrates revenue as a percentage of total revenue in the major currencies of the geographic areas in which Crawford does business: Twelve Months Ended December 31, December 31, (in thousands) 2020 2019 Geographic Area C
Slide 83: Reconciliation of Non-GAAP Items
83 Reconciliation of Non-GAAP Items Revenues, Costs of Services Provided, and Operating Earnings Year Ended Year Ended December 31, December 31, Unaudited ($ in thousands) 2020 2019 Revenues Before Reimbursements Total Revenues $ 1,016,195 $ 1,047,627 Reimbursements (33,703) (41,825) Revenues Before
Slide 84: Reconciliation of Non-GAAP Items (cont.)
84 Reconciliation of Non-GAAP Items (cont.) Adjusted EBITDA ) Year Ended December 31, December 31, Unaudited ($ in thousands) 2020 2019 Net income (loss) attributable to shareholders of Crawford & Company $ 28,296 $ 12,485 Add: Depreciation and amortization 40,111 40,513 Stock-based compensation 4,3
Slide 85: Reconciliation of Non-GAAP Items (cont.)
85 Reconciliation of Non-GAAP Items (cont.) Net Debt December 31, December 31, Unaudited ($ in thousands) 2020 2019 Net Debt Short-term borrowings $ 1,570 $ 28,531 Current installments of finance leases and other obligations 267 15 Long-term debt and finance leases, less current installments 111,758
Slide 86: Reconciliation of Non-GAAP Items (cont.)
86 Reconciliation of Non-GAAP Items (cont.) Segment Gross Profit Year ended ($ in thousands) December 31, 2020 December 31, 2029 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 239,1
Slide 87: Reconciliation of Full Year Non-GAAP Results
87 Reconciliation of Full Year Non-GAAP Results Year Ended December 31, 2020 Net Income Non-GAAP Attributable to Operating Crawford & Diluted Earnings Diluted Earnings Unaudited ($ in thousands) Revenues Earnings Pretax Earnings Company per CRD-A Share per CRD-B Share GAAP $ 982,492 $ 71,830 $ 39,08
Slide 88: Appendix D: Additional Case Studies
88 Appendix D: Additional Case Studies
Slide 89: Quantifiable Impact on Savings & Policyholder Experience
Quantifiable Impact on Savings & Policyholder Experience 89 Case Study: Florida Carrier Claim Operations Takeover Carrier Requirements Impact Results Drivers 3,500 hurricane claims taken over 27% Reduction in Cycle Time Self-Service Florida, North Carolina & South Carolina 90% Claim Volume 23% Reduc
Slide 90: Dedicated team eliminates quality concerns facing carrier
90 Dedicated team eliminates quality concerns facing carrier Challenge Results A large insurance carrier, facing strong regional competition, seeks 4K+ to address quality issues prompted by depleted resources and disparate pricing. claims processed three months after implementation Solution 90% Craw
Slide 91: Expediting return-to-work with predictive analytics
91 Expediting return-to-work with predictive analytics Challenge Results A national staffing firm was experiencing long claim durations and high numbers of older, open claims. TPA: Broadspire and the client 6% established goals including a 6% reduction in loss pick and a 15% reduction in loss pick r
Slide 92: Nurses heal financial burden
92 Nurses heal financial burden Results Challenge A national discount retailer was experiencing an unusually high 46% rate of workers compensation claims. If not addressed reduction in open claims immediately, the company would suffer significant financial losses putting the business as risk. 50% re
Slide 93: High-value quality and efficiency
93 High-value quality and efficiency Challenge An electrical fire caused more than $1M in damage to the home of Results a high-profile celebrity property owner. There was significant structural and smoke damage throughout the home, and high- value cars and auto lifts were destroyed. The insurance ca
Slide 94: Building a superior claims management program
94 Building a superior claims management program Challenge Results A large real estate developer, with over 11,000 high-end apartment properties, looks to Crawford to refine their current claims $500K+ protocols with industry-leading services. in savings based on new subrogation program Solution $25
Crawford & Company — Investor Presentation (July 2021) on 6ix