Following is the second in a series of excerpts from Crawford’s 2014 annual report. This post focuses on the news from Broadspire®. Full copies of the annual report are available here https://www.crawfordandcompany.com/media/1803962/crawford-2014-annual-report.pdf.
“Through our earnest efforts and commitment to our goals, we are focused. By investing in and implementing beneficial new technology and products, we are innovative. With a genuine concern to help our clients, we are passionate. This is Broadspire.” — Danielle M. Lisenbey
Broadspire is a global Third-Party Administrator (TPA) specializing in servicing the claims needs of corporations, brokers and insurers who wish to take greater control over the claims process, total loss costs and data capture, as well as to access meaningful management information. Our team of claims management, clinicians, account management and risk management information system (RMIS) professionals has the global reach and local expertise to serve as a full-service TPA partner. Utilizing a broad suite of leading-edge tools and resources, we develop solutions in areas such as workers compensation claims management, auto and general liability claims management, medical management and disability management programs. Broadspire strives to offer a comprehensive suite of solutions designed to increase employee productivity while reducing the cost of risk.
GROWING OUR BUSINESS
2014 was an exciting year of growth and progress for Broadspire with our operating earnings nearly doubling that of the previous year. By developing meaningful partnerships with new clients and maintaining successful relationships with our existing clients, we continued to build our business. Our efforts realized a 7 percent increase in revenue over last year from new clients and increased claim volume from existing clients. In the past year, we welcomed new clients such as Staples, Johnson Controls, CPS Energy, Saks, Extended Stay America and Sanderson Farms, among many others. We also retained over 92 percent of our existing clients during the year, a key metric in sustainable growth.
ENHANCING OUR TECHNOLOGY AND SERVICES
Broadspire continues to boost efficiencies and capabilities by upgrading technology and analytics with new tools and enhanced processes. The use of business process management technology that transforms the way we operate. 2014 also saw the expansion of our offerings by introducing disability and leave management services as well as enhanced product recall and cyber claims management, all of these enhancements have been well received in the industry.
As we move forward into 2015 and beyond, we expect to continue to build upon our recent successes through the continued use and expansion of our new technology as well as our claims and medical management services. Accelerating our growth, retaining our existing client base, and enhancing our process management are all key drivers to future success in accomplishing our goals. Arguably, the most important is continuing to engage, train and develop our employees. As a service organization, you are only as good as those that deliver the service and we believe we have the best in the industry.
DANIELLE M. LISENBEY
Executive Vice President and Chief Executive Officer, Broadspire®