CorVel Corporation

Climate Impact & Sustainability Data (2020, 2022, 2024)

The impact of the COVID-19 pandemic, including reduced customer demand, travel restrictions, employee work-from-home arrangements, and widespread unemployment.
Decreasing number of workers' compensation claims due to a less labor-intensive and more service-oriented labor market.
Increased competition from larger companies with greater financial and marketing resources.
Cybersecurity attacks and data security incidents.
Healthcare providers' resistance to cost containment techniques and related litigation.

Implemented travel restrictions and remote working arrangements for employees.
Continued investment in technology to scale virtual care services.
Investment in information technology and data security tools, measures, processes, initiatives, policies, and employee training.
Not specified in the report.

Awarded Great Place to Work Company certification for the second year in a row.
Over a third of employees identify as racially/ethnically diverse.
Over 79% of employees identify as women. Over 71% of managers identify as women.
Diversity, equity and inclusion training completed by leaders and mandated for all employees.
Variety of comprehensive benefit programs supporting physical, mental, and financial well-being of employees (wellness programs, EAP, telemedicine, retirement plans, tuition assistance, remote work arrangements, paid time off).

Adopted a code of ethics and business conduct that applies to all employees, officers, and directors.

Mergers and acquisitions, inflation, and the Great Resignation impacting the casualty and health markets.
COVID-19 pandemic impacting human capital management (62% of employees permanently working from home).
Decreasing number of national claims due to decreasing number of injured workers.
Increased competition from larger companies with greater resources.
Healthcare providers becoming increasingly resistant to certain healthcare cost containment techniques.
Potential litigation related to authorization or denial of claims for payment of benefits or allegations of engaging in the practice of medicine.

Fiscal conservatism, ongoing development of the team, and continual investment in technology and innovation.
Safety protocols and procedures for employees in the office.
Leveraging the latest technological innovation to connect all parties involved in workers' compensation, risk management, and insurance processes.
Maintaining professional liability insurance and other coverages.
Implementing and enhancing information systems to analyze data related to the workers’ compensation industry.

Awarded "Great Place to Work Company" certification for the fourth consecutive year.
Over a third of employees identify as racially or ethnically diverse. Over 79% of employees identify as women. Over 72% of managers identify as women.
Launched CorVel University, a national training initiative for claims specialists.

Competition from larger companies with greater resources.
Potential for customers to handle managed care services in-house.
Declines in workers' compensation claims.
Healthcare providers becoming increasingly resistant to cost containment techniques.
Inflation risks increasing wages, benefits, and other costs.
Cybersecurity risks.
Potential litigation and legal liability.