Crawford and Broadspire
Founded in the year 1941 in Columbus Georgia, Crawford and company has grown rapidly to become one of the largest insurance companies in the world. The company has grown to have major offices through the United States, as well as other sub-companies including Broadspire company. Having been initiated by Jim Crawford, who was initially a claims manager in an insurance company, Crawford Company was founded as an independent claims management company. Notably, the company has grown over the last 78 years with major clients as the insurance companies and even becoming a publicly traded company in the year 1968. Broadspire Company employs technology and data analytics in the execution of programs indorse lower charges and faster reclamation of claims. Founded in 2003, Broadspire operates in major towns such as New York, with its headquarters in Peachtree, Georgia. Crawford/Broadspire presents the beast opportunity for any aspiring individual who needs employment in the insurance sector, owing to the large scale of operation, employee value addition programs, and company philosophical values and beliefs.
Mission, Vision, and Goal
Crawford company mission is to be the highest quality service provider in the claims industry, and to be able to be the best choice for all the customers seeking administrative solutions. The vision is to be the world’s largest mediator and provider of custom claims and administrative solutions. The company values honesty, valued service to clients, open and positive communication with both clients and employees, and continuous learning and innovation.
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The company’s major goal is grown in all spheres, with regards to innovation and customer service. The strategies are therefore geared towards maximizing on innovation and acquiring a greater market share through expansion and better innovation programs, in a bid to stay the largest global claims management company.
Services and Customers
Crawford serves all customers in need of any form of insurance and advice on claims and risks. With services such as rehabilitation services, risk management services, catastrophe services, property and casualty claims services, as well as the claims alert services, the company has managed to maintain an edge over the other companies in the market. Other services include loss adjusting, third party administration, managed repair, medical management, and catastrophe response. The aforementioned products and areas of specialization have allowed the company to serve an extremely wide range of customers with different needs. The major customers are therefore insurance companies as well as individuals seeking insurance solutions.
Marketing, Sales, Strategies
Crawford and company uses a Go-to marketing strategy to reach out to its customers. This implies that it employs both a sales task force and distributors top reach out to its target market. The sales strategy involves direct sales to clients who attend their various offices for consultation services, and independent agents as well as brokers employed by the company. Besides, Crawford and company has a significant online presence indicated by the traffic in the company website. It also employs social media platforms such as Facebook, and twitter to interact with its customers and prospects.
Crawford and company faces competition from companies such as Marsha and McLennan companies Inc., AON plc., Corvel Corporation, and Robert Half International Inc., among many others. Notably, these companies compete globally. Crawford and company has branches and sub companies in 70 countries across the world. Broadspire Company has outlets both in New York and Georgia, with main competitors as Corvel and Sedgwick claims management services.
Philosophical Beliefs and company values
Crawford and company, including Broadspire, operate on a set of philosophical beliefs and values. These include integrity and honesty to the customer, hard work, knowledge and innovation, as well as open communication with both clients and employees. Besides, the company sensitizes on the importance of safety and healthy working environment, as well as increased value to shareholders, and acting as a market leader. It promotes environmental ethics as well as social and corporate integrity in all its operations with suppliers, customers, and employees.
Public image, Environmental concern, and Social Responsibility
Crawford and company is an advocate of environmental conservation and safety, as depicted in its eco-friendly solutions. Notably, the company has always used vendors with eco-friendly solutions. The company participates in several global humanitarian activities in a bid to create a better corporate social responsibility. Some of the projects include building homes for the homeless in Florida, as part of the global day of service initiative by the company. Moreover, the company participates in charitable donations through activities such as the annual Broadspire charity golf tournament, aimed to raise funds to non-profit organizations and to help the needy. The company has also teamed with safe America Foundation in the past, to help victims of the Hurricane Maria in Puerto Rico. These activities are an indication that the company is concerned and close with the society, and is equally environmentally conscious.
Competencies, SWOT analysis
Broadspire and Crawford’s major competitive advantage is innovativeness and product customization. The company has a set of highly qualified data analytics as well as talented staff that are geared towards continuous innovation. This consequently culminates to better strategies and products and services, which are customized to the consumers’ needs. Providing what the consumer needs leads to increased demand for the company’s services, hence an edge over its competitors. Additionally, the strong brand portfolio build for over seventy years of service plays a major role in its competitive advantage. This aspect not only contributes to its customer numbers, but to its product development as well. Reliable suppliers, go-to marketing strategies, and highly skilled personnel also contributes largely to the company success.
The main challenges and weaknesses include limited success outside the core business as records indicate that the company has not been entirely successful in moving to other product segments. Besides, the company’s product demand forecasting is reported to be inefficient, hence a larger inventory as compared to its competitors.
However, Crawford/Broadspire is able to take advantage of several opportunities presented by the market. These opportunities include new technology and government incentives. New technology which allows differentiation of pricing will enable the firm to maintain its customers, as well as attract new customers. Government incentives such as the green drive, which has created an opportunity for procurement of Crawford’s products by the state and federal government contractors, also presents a significantly great area for financial growth.
Employees are a valuable and significant part of Crawford/Broadspire. Besides the vast employee training and mentoring programs which the company offer to new employees, it highly upholds the global code of conduct and employee ethics. Moreover, the company encourages open communication between its employees. Employee compensation and motivation in the company are well defined, and recorded to be very beneficial. Notably, after the Hurricane calamity in the U.S in 2017, Crawford and company took the initiative to financial assist all its employees who were affected by the tragedy, to allow them fix their financial losses and settle, an initiative of the Crawford cares Inc., Foundation. These events and actions therefore indicate that the company values its employees.
Diversity and inclusion
At Crawford/Broadspire, diversity is one of the top priorities. As evident in the fact that the company is part of the business insurance diversity and inclusion Institute which promotes diversity in every aspect of the insurance industry. Besides, the company runs projects that enhance women empowerment and leadership. It prioritizes diversity, in aspects of culture, gender, age, ethnicity, and experience.
Broadspire career opportunities are regularly advertised and posted on the company websites as well as the local business journals. The remuneration rate is reported to be fair, and the working conditions highly favorable, with intern salaries of about $14 per hour, and claims examiner position salary of about $65,000 annually. This is highly favorable as compared to the competitors in the market. Crawford/Broadspire annual report indicate an annual claim payments of over 14billion dollars, and a revenue of between $100-500 million annually for Broadspire Company. This is a significantly high revenue operation.
With a significantly large financial base, Crawford and company is one of the most coveted organizations in the insurance industry. As aforementioned, the employee remuneration strategies, coupled with the training and mentoring programs are quite appealing. Besides, one would have the opportunity to meet and mingle with highly talented and skilled individuals in the industry. Besides, the company sensitizes on environmentally friendly solutions, and its social responsibility programs presents a great opportunity for its growth and the growth of its employees and the society at large. Crawford/Broadspire therefore remain the best insurance company for any individual interested in the field of insurance and risk management.
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