Crawford & Company (CRD-B) Stock Analysis & Winston Score

Crawford & Company helps insurance companies figure out how much to pay when someone files a claim. When a car gets damaged, a house floods, or a business suffers a loss, Crawford sends trained adjusters to investigate and calculate the cost. Their main customers are insurance carriers, corporations, and government agencies around the world. Crawford earns money by charging fees for each claim it handles or through longer-term managed care and outsourcing contracts with large insurers. The company operates in over 70 countries, making it one of the largest independent claims management firms globally. Its scale and long-standing relationships with major insurers create some switching costs, since clients rely on Crawford's established processes and workforce. The key growth driver is rising claims volume from natural disasters and an aging global infrastructure, but the business faces pressure from insurers building more claims-handling capabilities in-house and from technology platforms automating parts of the adjustment process.