Crawford & Co. President and CEO Jeffrey T. Bowman expects Broadspire Services Inc. to grow its revenue and profitability this year as the third-party administrator works to gain ground among competitors.

Broadspire, which handles workers compensation and liability claims, saw “steady and significant improvement” in 2014 revenue and profit, Mr. Bowman said in a conference call Monday to discuss Crawford's 2014 financial results.

The TPA generated $268.9 million in revenue last year, up 6.6% from 2013. And Broadspire, which accounted for 23.5% of Crawford's net revenue last year, is expected to continue its growth trajectory in 2015, Mr. Bowman said.

“We anticipate both continued organic growth and gains from new products and client wins in the coming year,” he said.

Mark Hughes, a Nashville, Tennessee-based director at SunTrust Robinson Humphrey Inc., noted in a report Tuesday that Broadspire saw a 7% increase in case volume for the fourth quarter and an 8% increase for the year.

Responding to a question from Mr. Hughes during Monday's call, Mr. Bowman said Broadspire has focused on innovation and processes that have allowed it to compete effectively with other TPAs.

“Our business is increasing because we've improved our technology,” Mr. Bowman said. “We've got some very, very good processes in place, and we are expanding our product lines and ability.” While competition still exists, “I think our game has just spun off significantly.”

Broadspire's results were a bright spot in Crawford's fourth-quarter and year-end earnings.

The Atlanta-based claims management services provider reported $3.7 million in net income for the fourth quarter of 2014, down 66.4% from the same period in 2013, and $31.1 million in net income for all of 2014, down 39.4% from the previous year.

Crawford's fourth-quarter revenue of $305.6 million was down less than 1% from the year-earlier period. Its revenue for the entire year of $1.22 billion was off 2.4% from the previous year.

“There were virtually no major weather events that led to significant insured losses” in 2014, reducing the number of weather-related claims that Crawford handled last year, Mr. Bowman said.

“The effect of this benign period is evident in the strong results reported by many of our insurance clients, as can be seen in their performance ratios, which were much improved from a year ago,” he said. “This environment, however, resulted in a shift in the mix of our claims business, with the decrease in higher-margin property claims, driven by a lack of severe weather, offset by increases in high-volume, low-value claims both in the U.S. and internationally.”