CorVel Corporation Market Research Report

Company Overview

• Name: CorVel Corporation

• Mission: To provide an enduring culture where employees are empowered to seek their full potential while making a real difference in the industry.

• Founded: 1987

• Founder: V. Gordon Clemons

• Key People:

• Michael G. Combs, President & CEO

• Mark E. Bertels, Executive Vice President, Risk Management Services

• Brandon T. O’Brien, Chief Financial Officer

• Maxim Shishin, Chief Information Officer

• Sharon F. O’Connor, Vice President, Legal Services

• Jennifer L. Yoss, Vice President, Accounting

• Headquarters: 5128 Apache Plume Rd, Suite 400, Fort Worth, Texas 76109

• Number of Employees: 4,800+ across the U.S.

• Revenue: More than $719 million annually

• What is the company known for: CorVel Corporation is recognized as the leading provider of risk management solutions, offering services in workers' compensation, liability, and disability management.

Products

Workers' Compensation

• Description: Provides an integrated claims management process with solutions like CareMC Edge.

• Key Features: Triage nurses, claims adjusters, case managers, case management, and virtual care options.

Liability Management

• Description: Offers claims management to protect businesses from costly mistakes and lawsuits.

• Key Features: General liability, auto liability, fast-track claims, litigation management.

Disability Management

• Description: Manages employment leaves, optimizing return-to-work rates.

• Key Features: FNOL / Absence reporting, case management, functional capacity evaluations.

CareMC Edge

• Description: A fully integrated claims system providing transparency and efficiency.

• Key Features: Personalized claims scores, greater visibility, expert support.

Recent Developments

• New Products/Features:

• Integration of generative AI into claims and care solutions, enhancing efficiencies and reducing costs.

• Partnerships:

• Collaboration with O’Reilly Automotive Inc., recognized as “Claims Team of the Year” by Business Insurance.

• Awards:

• Business Insurance's Innovation Award for advancements in generative AI.

• CorVel recognized as a Great Place to Work® Certified Company in 2023.

Financial Overview

• NASDAQ Symbol: CRVL

• Market Capitalization: $4,795,000,000 (as of 5/22/24)

• Recent Stock Price: $280.12 (as of 5/22/24)

• Shares Outstanding: 17,128,896 (as of 3/31/24)

• Fiscal Year End: March 31

Strategic Outlook

CorVel continues to enhance its suite of services with cutting-edge technology such as generative AI to lead the claims management industry. The company's commitment to innovation positions it to provide superior outcomes for its clients and partners. With a strong base of key clients and an increasing market recognition, CorVel is well placed for sustained growth in the risk management domain.

Contact Information

• Corporate Address: 1920 Main Street Suite 900, Irvine, California 92614

• Phone: 888-7-CORVEL

• Investor Relations Email: investor_relations@corvel.com

CorVel Corporation remains committed to using technology to provide comprehensive risk management solutions while maintaining financial strength and market leadership.