IRVINE, California, Sept. 22, 2020 — CorVel Corporation (NASDAQ: CRVL) was named Third Party Administrator Team of the Year at the Business Insurance U.S. Insurance Awards on September 10 for its innovative work with the State of Tennessee. The award honors teams of professionals that accomplish major achievements and demonstrate excellence in the commercial insurance and risk management sector.
The State of Tennessee partnered with CorVel to increase the efficiency and cost-effectiveness of its program by leveraging CorVel’s integrated claims management services. Over the past two years, CorVel helped Tennessee implement a statewide return-to-work program, comprehensive pharmacy solutions, and an innovative intake process that includes Advocacy 24/7 and virtual care through telehealth. CorVel’s team effectively managed the State’s risk and achieved significant results by proactively identifying and addressing cost drivers.
“We are thrilled to be honored for our work with the State of Tennessee,” said Michael Combs, CorVel CEO. “The program’s success is directly related to the partnership created by our claims team members, many of whom have been with the program since its inception. Our team is invested as an extension of the state and committed to taking care of injured workers, returning them to pre-injury health as productive employees of the State of Tennessee.”
The Tennessee Claims and Risk Management division administers workers’ compensation, tort liability, loss prevention, and other insurance programs for various institutions and agencies across the state, covering 85,000 employees and 6.7 million residents.
“We were looking for a partner that could provide innovative solutions to transform our traditional claims process, which had remained static for nearly two decades,” said Rodney Escobar, Director of Claims and Risk Management, Tennessee Department of Treasury. “CorVel implemented an integrated program that helped us meet and surpass our goals. They are a trusted partner and a valued part of our team. We are so excited that they have been recognized for their work with the State of Tennessee.”
Launched last year, the U.S. Insurance Awards program highlights exceptional work by insurance professionals at companies across the commercial insurance industry. Recognizing that major achievements are seldom the work of individuals working in isolation, the awards honor teams of professionals working on specific projects. Entries are reviewed and scored by an independent panel of judges composed of professional risk managers.
To learn more about the U.S. Insurance awards, please click here.
CorVel Corporation is a national provider of industry-leading workers’ compensation solutions for employers, third-party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. We apply technology, intelligence, and a human touch to the risk management process so our clients can intervene early and get connected to the critical intelligence they need to proactively manage risk. With a robust technology platform at its core, our connected solution is delivered by a national team of associates who are committed to helping clients design and manage programs that meet their organization’s performance goals.
CorVel Corporation is publicly traded on the NASDAQ National Market System under the stock symbol CRVL. The CorVel Corporation Annual Report on Form 10-K filed with the Securities and Exchange Commission may be obtained by clicking here or by contacting:
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Irvine, California 92614