CorVel Corp. - Common Stock (CRVL)
Competitors to CorVel Corp. - Common Stock (CRVL)
Broadspire
Broadspire, a subsidiary of Crawford & Company, competes with CorVel by providing integrated claims management and disability management services. With a strong emphasis on innovative technology and data analytics, Broadspire focuses on improving client workflows and streamlining claims processes, offering a significant competitive advantage. Their ability to leverage technology for improved outcomes positions them well against CorVel.
Cigna Corporation CI -0.10%
Cigna Corporation, a major player in the health services sector, competes with CorVel by offering integrated healthcare solutions that include medical management and workers' compensation services. Cigna's extensive network and capabilities in data analytics give them an edge in evaluating treatment outcomes and cost efficiency. This benefit allows them to create tailored care management programs that are appealing to employers and insurers, positioning Cigna as a strong alternative to CorVel in the market.
Genex Services
Genex Services focuses on claims handling, medical management, and case management services, directly competing with CorVel's offerings. With an emphasis on innovation and healthcare solutions tailored to the needs of injured workers, Genex has effectively positioned itself in the same market segment. Their significant investment in proprietary technology provides them with a competitive edge by enhancing service delivery and efficiency.
Marsh & McLennan Companies, Inc. MMC +0.13%
Marsh & McLennan operates in the risk management sector and competes with CorVel through its various business units that provide similar services including risk consulting and insurance brokerage. Their established relationships with insurance companies and large-scale employers give them a competitive advantage in negotiating better terms for clients. Although they offer broader services, their integrated approach to risk management often appeals to clients looking for comprehensive solutions.
Sedgwick Claims Management Services
Sedgwick is one of the leading providers of technology-enabled risk and benefits solutions, offering services similar to those of CorVel, such as claims management and injury management for workers' compensation. Sedgwick’s extensive service offerings and large market presence give them a competitive edge. They are known for their robust risk management strategies and customizable solutions, which attract large clients, particularly in self-insured sectors.