Crawford And Co's Business Segments

Headquartered in Atlanta, Georgia, and founded in 1941, the Company is one of the worlds largest independent providers of claims management solutions to the risk management and insurance industry, as well as to self-insured entities, with an expansive global network serving clients in more than 70 countries.

Shares of the Companys two classes of common stock are traded on the New York Stock Exchange ("NYSE") under the symbols CRDA and CRDB, respectively. The Companys two classes of stock are substantially identical, except with respect to voting rights and the Companys ability to pay greater cash dividends on the non-voting Class A Common Stock than on the voting Class B Common Stock, subject to certain limitations. In addition, with respect to mergers or similar transactions, holders of Class A Common Stock must receive the same type and amount of consideration as holders of Class B Common Stock, unless different consideration is approved by the holders of 75% of the Class A Common Stock, voting as a class.

Crawford & Company, a prominent player in the risk management and claims administration industry, provides a broad spectrum of services and products through its various segments, with a strong focus on claims management, risk management, and third-party administration. Here’s a detailed overview of their offerings, organized by segments.

U.S. Services Segment

The U.S. Services segment focuses primarily on claims management services within the domestic market, heavily servicing the insurance industry. Most revenues in this segment are generated from insurance companies that, while managing their own claims processes, often engage Crawford for specialized services.

Major Risk Categories
The services offered are classified by risk categories that align with industry standards:

1. Property: Addressing losses due to physical damage to both commercial and residential properties, as well as certain personal properties.
2. Catastrophe: Supporting claims arising from natural disasters (e.g. hurricanes, earthquakes, floods) and man-made disasters (e.g. oil spills, chemical releases).
3. Public Liability: Encompassing a wide range of liability claims unrelated to automobiles, including product liability and comprehensive general liability for landlords and tenants.
4. Automobile: Covering all claims related to vehicle usage, including bodily injury, property damage, and various liabilities tied to vehicles.

Service Lines

Crawfords U.S. Services segment comprises four primary service lines:

1. U.S. Claims Field Operations: This is the largest service line, providing property claims management, casualty claims management, and vehicle claims services. These operations facilitate timely resolutions for policyholders.

2. U.S. Technical Services: This division caters to large, complex losses across various industries. The team consists of technical adjusters and experts well-versed in sectors such as commercial property, aviation, marine, and energy. This service line is integrated with Crawford Global Technical Services (GTS®), ensuring access to specialized knowledge in fields like forensics and engineering.

3. U.S. Catastrophe Services: This unit provides independent adjusting resources during natural or man-made disasters. With one of the largest field forces in the industry, they utilize a proprietary response mechanism designed for efficient management of catastrophic claims.

4. U.S. Contractor Connection®: Crawfords extensive network of over 4,800 credentialed contractors streamlines the resolution process for low-complexity property claims, enhancing their business process outsourcing capabilities by providing high-quality contractor management.

International Segment

Crawford’s international services are akin to those provided in the U.S. but cater to global markets, primarily targeting the insurance companies and third-party administration sectors. A significant portion of their international revenues comes from Broadspire, which focuses on the needs of self-insured and commercially insured entities.

Broadspire

Operating as a wholly-owned subsidiary, Broadspire specializes in comprehensive risk management services, emphasizing claims management across multiple areas:

1. Workers Compensation: Handling claims under state and federal laws related to workplace injuries.

2. Public Liability: Covering extensive non-automobile liability claims similar to those managed in the U.S. Services segment.

3. Automobile: Managing claims involving vehicles, including bodily injury and liability.

Broadspire offers an integrated approach that includes:

- Field Investigation and Evaluation: Comprehensive assessments at the onset of claims.
- Loss Mitigation Services: Services such as medical case management, vocational rehabilitation, and medical bill reviews.
- Risk Management Information Services: Provided through Risk Sciences Group, which delivers tailored risk management solutions.

Service Lines

Broadspire operates through three key service lines:

1. Workers Compensation, Disability, and Liability Claims Management: This includes various integrated claims management services, focusing on returning employees to work efficiently.

2. Medical Management: Case management services that monitor and facilitate the medical treatment of injured employees, ensuring cost-effective rehabilitation.

3. Risk Management Information Services: Custom risk management software and solutions tailored to industry needs, offered via Risk Sciences Group.

Garden City Group (GCG)

The Garden City Group focuses on legal settlement administration services, which play a crucial role in managing class actions, mass torts, and bankruptcy cases. Their services encompass:

1. Class Action Services: Efficient management of administrative tasks for high-volume class action settlements, including technology-intensive solutions.

2. Bankruptcy Services: Providing comprehensive services for the administration of Chapter 11 bankruptcy cases, ensuring cost-effectiveness and thoroughness.

3. GCG Communications: Delivering communication strategies to ensure successful case administration, focusing on legal notice programs to facilitate engagement.

In summary, Crawford & Company’s extensive suite of services is tailored around the needs of insurance companies and various industries, offering specialized claims management and risk management solutions across different regional markets. Their commitment to providing comprehensive, technology-driven solutions positions them as a leader in the claims administration field.