Crawford & Company Business Analysis Insights

Crawford & Company is a global leader in claims management and outsourcing, with a rich history that spans over 75 years. The company was founded in 1942 by Robert Crawford.

Crawford & Company has grown significantly over the years, expanding its services to over 700 locations in 60 countries. This global presence has enabled the company to serve a diverse range of clients, including insurance companies, corporations, and governments.

One of the key factors behind Crawford & Company's success is its commitment to innovation and technology. The company has invested heavily in digital solutions, such as its proprietary claims management system, to improve efficiency and reduce costs.

As a result, Crawford & Company has been able to deliver high-quality services to its clients, while also driving business growth and profitability.

Crawford & Company's revenue has seen a mix of increases and decreases over the years, with a high of $1,316.9 in 2023 and a low of $1,047.6 in 2019.

Their revenue has been steadily increasing since 2021, with a notable jump from $1,139.2 to $1,231.2 in 2022.

Here's a breakdown of Crawford & Company's revenue over the years:

Financial statements are a crucial part of any company's financials, and they can be a bit overwhelming at first. But don't worry, let's break it down together.

Revenue is a key metric that shows how much money a company is bringing in. According to Crawford & Company's financial statements, their revenue was $1,123.0 in 2018, and it fluctuated over the next few years, reaching $1,316.9 in 2023.

The cost of revenue is an important metric that shows how much it costs a company to generate its revenue. Unfortunately, Crawford & Company's financial statements don't provide a clear breakdown of their cost of revenue.

Gross profit is the difference between revenue and cost of revenue. However, since we don't have the cost of revenue figures, we can't calculate the gross profit.

Crawford & Company's balance sheet provides a snapshot of their financial situation at a specific point in time. One of the key items on the balance sheet is cash and equivalents, which includes money in the bank and other liquid assets.

According to Crawford & Company's balance sheet, their cash and equivalents were $53.1 in 2018, and they fluctuated over the next few years, reaching $58.4 in 2023.

Here's a summary of Crawford & Company's revenue and cash and equivalents over the years:

As you can see, Crawford & Company's revenue and cash and equivalents fluctuated over the years, but they generally trended upwards.

Crawford & Co likely spends a significant amount on technology to support its digital strategy.

IT Client Prospector provides intelligence on Crawford & Co's likely spend across technology areas, enabling us to understand their digital strategy.

Crawford & Co's ICT spend priorities are not explicitly stated, but we can infer from the provided information that they place a high value on understanding their digital strategy.

Understanding ICT spend priorities is crucial for making informed decisions about technology investments, and IT Client Prospector's intelligence can help with that.

Crawford & Co's likely spend across technology areas can be used to inform their digital strategy, but the exact figures are not publicly available.

Crawford & Company offers a wide range of services and products to help clients manage risk and recover from losses. Their services include claims management, risk consulting, and managed care.

Crawford's claims management services help clients navigate the complex claims process, from first notice of loss to final settlement. This includes investigating and evaluating claims, as well as providing expert opinions on causation and damages.

Their risk consulting services help clients identify and mitigate potential risks, such as property damage and liability claims. Crawford's experts provide data-driven insights and recommendations to help clients make informed decisions.

Crawford's managed care services help clients manage medical claims and reduce costs. This includes medical bill review, utilization review, and case management services.

Crawford & Company has a global presence, with operations in over 70 countries. This allows them to serve clients with international needs and provide a seamless experience across borders.

Crawford & Company's sales have been steadily increasing over the years. In 2021, their sales reached $1.67 billion.

The company's geographical breakdown of sales reveals some interesting trends. In the United States, sales have consistently increased, reaching $788 million in 2023.

A closer look at the numbers shows that Crawford & Company's sales in the United Kingdom (U.K.) have also been on the rise, reaching $143 million in 2023.

Some claims can drag on for an incredibly long time, like the one mentioned in Example 1, which is still unresolved two years after it was first submitted.

This claim was made for flooding damage, and the insurance company, Crawfords, initially agreed to cover the costs and sent in contractors to assess the damage.

The policyholders were left to move out of their home at their own expense, into a mobile home, while the contractors worked on the property.

The contractors stripped the house from top to bottom, removing all white goods, kitchen fixtures, and even fitted wardrobes and showers.

The policyholders were banned from entering their home during this time, leaving them without access to basic necessities like heating or floors.

Even now, two years on, the policyholders are still waiting to hear back from the insurance company, despite being elderly and in need of a resolution.

Crawford & Company's sales by activity have been steadily increasing over the years. The company's International Operations saw a significant boost in 2022, reaching $357 million, and further increased to $382 million in 2023.

In North America, Loss Adjusting has been a significant contributor to the company's sales, reaching $275 million in 2022 and $304 million in 2023. Broadspire has also seen consistent growth, reaching $314 million in 2022 and $356 million in 2023.

Platform Solutions, on the other hand, saw a decline in sales from $244 million in 2022 to $225 million in 2023. Crawford TPA Solutions and Crawford Loss Adjusting have been steady contributors to the company's sales, but their sales figures are not available for 2022 and 2023.

Here is a breakdown of Crawford & Company's sales by activity:

Crawford & Company's sales by activity have been a mix of growth and decline, but the company's overall sales have been steadily increasing.

Crawford & Company has a strong presence in the claims management industry, with a global network of offices and a team of experienced professionals.

Their expertise in handling complex claims is evident in their ability to process over 900,000 claims annually.

The company's focus on innovation is reflected in their use of cutting-edge technology, such as data analytics and artificial intelligence, to improve claim outcomes.

Crawford & Company's global reach and expertise make them a significant player in the claims management market.

Their commitment to customer service is demonstrated by their ability to provide 24/7 support to clients and policyholders.

The company's financial stability is reflected in their annual revenue of over $1.2 billion.

Crawford & Company's experience in handling large-scale catastrophe claims is a testament to their ability to scale and adapt to complex situations.

Crawford & Company has a diverse group of shareholders, with several notable entities and individuals holding significant stakes in the company.

Jesse Crawford is the largest shareholder, holding approximately 67.78% of the company's equities, with a valuation of $152 million.

Renaissance Technologies LLC, a prominent hedge fund, holds a smaller but still significant stake of 3.44% of the company's equities, with a valuation of $8 million.

The Capital Management Corp. and Minerva Advisors LLC also hold notable stakes in the company, with 2.846% and 1.447% of the equities, respectively, valued at $6 million and $3 million.

Here's a breakdown of the top shareholders:

The Board of Directors at Crawford & Company has a diverse composition. Jesse Crawford has been a Director since 1986 and also served as Chairman at some point.

Charles Ogburn has been the Chairman since 2010. He's 69 years old.

The Board has a mix of experienced members, with some having served for over three decades. Jesse Crawford, for example, has been on the Board since 1986.

Rohit Verma, who joined the Board in 2020, is the youngest member at 50 years old. In contrast, Jesse Crawford, who is also on the Board, is 35 years old, indicating a significant age gap.

Here is a list of the Board members, including their titles, ages, and the dates they joined:

Shareholders play a crucial role in the governance of a company. Jesse Crawford holds a significant amount of shares in Crawford & Company, with 67.78% of the equities valued at $152 million.

Renaissance Technologies LLC is another notable shareholder, owning 3.44% of the company's equities worth $8 million. The Capital Management Corp. also has a notable stake, with 2.846% of the equities valued at $6 million.

Here's a breakdown of the top shareholders in Crawford & Company:

Jesse Crawford's ownership stake is even more significant when looking at the company's valuation, with 35.99% of the equities valued at $129 million.

Crawford & Company's SWOT analysis is a comprehensive evaluation of its internal and external factors. It takes into account the company's performance in comparison to its competitors.

The strengths of Crawford & Company are based on its internal factors, but unfortunately, the article doesn't specify what these strengths are.

The weaknesses of Crawford & Company are also based on its internal factors, but again, the article doesn't provide any information on this aspect.

Opportunities for Crawford & Company are based on trends and demand in the Third-Party Administrators & Insurance Claims Adjusters industries.

Threats to Crawford & Company also focus on external influences, but the article doesn't mention what these threats are specifically.

Getting someone to listen can be a challenge, but it's not impossible. You can make Crawford sit up and listen by organizing with other dissatisfied consumers to demand better services.

We can all make a difference by banding together and asking for change. This can be done by collectively demanding that our Insurers no longer employ Crawford until they improve their services.

Perhaps we can all ask for another firm of loss assessors/adjusters to be offered to us.