Crawford® Launches Industry’s First Smart Water Detection and Mitigation Claims Solution
Source: Nasdaq GlobeNewswire / 01 Apr 2019 14:00:07 Europe/London
ATLANTA, April 01, 2019 (GLOBE NEWSWIRE) -- Crawford & Company®, the world's largest publicly listed independent provider of claims management and outsourcing solutions to insurance companies and self-insured entities, has launched the industry’s first smart water detection and mitigation solution to address escape of water claims. This ground-breaking, turnkey claims management solution delivers a rapid and effective response to water loss claims initiated by wireless sensors that detect water leaks.
Escape of water has been a growing concern to insurance carriers and risk managers for several years and is one of the largest causes of non-catastrophe losses. Costs are rising and the complexity of water damage claims is increasing the pressure on claims teams to develop innovative solutions to reduce costs without negatively impacting customer outcomes.
With Crawford®’s Escape of Water solution, carefully placed sensors throughout a property provide round-the-clock monitoring and leak detection. If water is detected, the sensors escalate the event to Crawford’s state-of-the-art operations center through wireless communication. The center notifies the property owner of the event within minutes, and, as needed, Crawford rapidly dispatches a water mitigation company to the site. In addition to sensor alerts, we have a 24-hour call center to take first notice of loss claims over the phone to initiate our water damage mitigation protocol.
“In early 2018, we launched an Escape of Water solution in the U.K.,” explains Crawford’s Global COO Rohit Verma. “With the addition of smart water sensor technology, we are taking our solution to the next level as a disruptive response to help address escape of water claims.”
Speed of response is critical with escape of water events as water can do substantial damage to a property over a short period of time. Crawford stands ready to engage and address this market trend to help our clients control the costs associated with escape of water claims.
“Crawford’s new Escape of Water solution demonstrates our drive to be a leader in innovation for our industry,” says Crawford’s President and CEO, Harsha V. Agadi. “To be able to mitigate a water damage claim within minutes can be a game changer for many clients and we intend to continue changing the game as we pursue our mission of restoring and enhancing lives, businesses and communities.”
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Based in Atlanta, Crawford & Company (NYSE: CRD‐A and CRD‐B) is the world’s largest publicly listed independent provider of claims management and outsourcing solutions to insurance companies and self‐insured entities with an expansive global network serving clients in more than 70 countries. The Company’s two classes of stock are substantially identical, except with respect to voting rights and the Company’s ability to pay greater cash dividends on the non-voting Class A Common Stock (CRD-A) than on the voting Class B Common Stock (CRD-B), subject to certain limitations. In addition, with respect to mergers or similar transactions, holders of CRD-A must receive the same type and amount of consideration as holders of CRD-B, unless different consideration is approved by the holders of 75 percent of CRD-A, voting as a class. More information is available at www.crawco.com.