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Overview
Craig/is Ltd. ("Craig") is the leading independent national provider of full-scope, business process
outsourcing (BPO) subrogation recovery services to the property & casualty industry.
Craig materially increases net subrogation recoveries while improving the quality, delivery and understanding
of subrogation services to P&C companies and their customers through its Shared ShoresSM services.
In addition to the financial benefit of increased recoveries, customers use the Craig data to improve their
claim and non-claim practices. Our customers' insureds use the Craig data to improve their core businesses.
- Craig's Claims Without BordersSM platform coordinates the activities of more than 100 of our full time professionals in all aspects of subrogation, litigation managment and the claims life cycle.
- We employ over 150 full time professionals at Craig with skills in all aspects of subrogation, litigation management and the claims life cycle.
- We have seamlessly transferred more than ten million customer claims pages to our system.
- We have dramatically decreased our customers' expenses while increasing recoveries.
- We recover in excess of $100 million annually for our customers.
- Ten years of research & development and innovation preceded our current offering.
- We are one of the fastest growing firms and a leading professional services recruiter in greater Jacksonville/Northeast Florida.
- Unique among providers of subrogation services, Craig has been awarded full-scope long-term contracts with insurers in the Top 5, Top 25, Top 50, and Top 100 insurance carrier tiers
as well as self-insureds and government programs.
- We are SAS-70 certified and ISO compliant
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History
We were the first organization to redesign the subrogation recovery process from end-to-end. Our proprietary
platform significantly improves recoveries with far greater accountability. Craig was founded in response to
an industry-wide need for improved subrogation with predictable, measurable results.
1993 Founded
in Huntington, New York, for the
exclusive purpose of providing subrogation recovery services
to the P&C insurance industry.
1994-1999
Successfully provided recovery services on targeted books for
leading national carriers, while developing successive
versions of our proprietary, subrogation-specific technology
platform.
Added Harry Glasspiegel, a widely-known
outsourcing and BPO expert, as a principal.
2001 Relocated headquarters to Jacksonville,
Florida, and established the first full-scope, BPO subrogation
services business in the market.
Added Vista Equity
Partners as the primary capital partner, solidifying Craig's
financial strength and long-term capital position.
2002-2003 Rapid scaling of operations.
Established experienced leadership team integrating BPO,
insurance, technology, law, financial, process and customer
service capabilities. Designed showcase subrogation operations
center with advanced technology and integrated services,
located in the Wachovia Tower in downtown Jacksonville,
Florida.
Recovery status, results and
metrics are tracked real-time to the adjuster desk level and
shared throughout the enterprise within Craig. Completed
innovative customer service portal to integrate with customer
on-line systems.
2004 Expanded maritime offerings with addition of cargo, hull, and P&I services.
2005
Opened London office across from Lloyd's staffed by maritime experts.
Rolled out Craig's Claims Without BordersSM global platform, supported by Craig operations center in Pune, India.
Selected by IBM as exclusive global claims recovery partner
2006
Opened Shanghai office
Launched Shared ShoresSM BPO claim services
Today Seamless transition of
national subrogation accounts and fast, low-risk integration
of Craig systems to customer legacy claims platforms. Detailed
transition methodology assuring collaboration and integration
with the customer's national field organization. Claim analytics to support Underwriting and Marketing.
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Capital
Partner
Craig is backed by Vista
Equity Partners. Vista has more than $1.2 billion in
committed capital and is one of the leading firms in the
private equity industry focused exclusively on making growth
investments in technology-enabled businesses. Vista's portfolio companies are all leaders within their industry segments.
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