Company: CRD-A
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030894
Chunk: 207

Company: CRAWFORD & CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 207
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 decreased revenues of (21.3)% in 2024. Changes in product mix and in the rates charged for those services accounted for a (0.4)% revenue decrease for 2024 compared with 2023. 

Revenue variance components for our Platform Solutions segment for the year ended December 31, 2024 are summarized as follows:

    2024 Period compared to 2023 Period Ending:
     
    December 31

    Decrease in cases received
     
    (7.7)%

    Reduction in low value inspection services cases
     
    6.4%

    Decrease in revenues from staff augmentation
     
    (21.3)%

    Change in product mix and rates
     
    (0.4)%

    Decrease in Revenues before Reimbursements
     
    (23.0)%

Reimbursed Expenses Included in Total Revenues

Reimbursements for out-of-pocket expenses incurred in our Platform Solutions segment were $1.8 million and $2.7 million for 2024 and 2023, respectively. The decrease was due to reduced Networks revenues in 2024. 

31

Case Volume Analysis

Platform Solutions unit volumes by service line, as measured by cases received, for 2024 and 2023 were as follows:

    Year Ended December 31,
     
    2024

    2023

    Variance

    Contractor Connection

    121,704

    139,739

    (12.9
    )%

    Networks

    150,083

    161,456

    (7.0
    )%

    Subrogation

    38,635

    35,028

    10.3
    %

    Total Platform Solutions Cases Received

    310,422

    336,223

    (7.7
    )%

Overall case volumes were (7.7)% lower in 2024 compared with 2023, due to decreases in Contractor Connection and Networks driven by higher weather-related activity in the prior year. There was a reduction in low value inspection services cases within our Networks service line of 21,600 cases in 2024. The decrease in cases in our Contractor Connection service lines in 2024 is due to higher weather-related activity in the prior year. The increase in Subrogation cases for the year is due to an increase from higher volume customers. 

Direct Compensation