CCC Scales Effort to Help Connect Crash Data to Claims

Rhea-AI Summary

CCC Intelligent Solutions has announced a collaboration with Zendrive, integrating mobile crash detection data into its claims management solutions. This partnership allows insurers to access real-time crash data, enhancing the speed and accuracy of claims resolution. By leveraging Zendrive's analytics and proprietary AI, CCC aims to transform the claims process, helping over 300 U.S. auto insurers streamline operations and improve customer experiences. This innovation supports insurers in making informed decisions during the claims process, ultimately enhancing policyholder satisfaction.

Positive

• Partnership with Zendrive enhances CCC's claims management solutions.
• Integration of real-time crash data improves claims resolution speed and accuracy.
• Access to detailed crash analytics supports insurers in making informed decisions.

Negative

• None.

Zendrive Joins the CCC Network, Offering Insurers Instant Mobile Crash Detection Data Designed to Speed and Improve Claims Resolution Beginning at FNOL

CHICAGO--(BUSINESS WIRE)-- CCC Intelligent Solutions Inc. (CCC), a leading SaaS platform powering the P&C insurance economy, announces today that Zendrive, a mission-driven company making roads safer with data and analytics, is the newest mobility risk intelligence provider to join the CCC network. Insurance customers of the two companies will be able to seamlessly connect smartphone-centric crash detection data with CCC's claims management solutions, helping to improve and speed claims outcomes. CCC works with more than 300 U.S. auto insurers, including 18 of the top 20 carriers, powering better claims experiences for millions of drivers annually.

"We are excited to work with CCC, helping our joint customers connect with real-time crash notification data to drive further automation across the claims resolution process,” said Pankaj Risbood, CEO and Cofounder at Zendrive. "Zendrive leverages proprietary AI and machine learning algorithms trained by 200 billion miles of data and hundreds of thousands of verified collisions to detect accidents with an unprecedented degree of accuracy. By working with CCC, we can seamlessly pass relevant, timely accident data to the insurance industry, activating a number of processes and decisions beginning at FNOL."

CCC will ingest Zendrive’s mobile-centric crash data via its CCC Cloud and derive elements including point of impact, direction of force, and other pertinent telematics data that will accelerate and enhance its services. Participating customers can then leverage that data through CCC's software-driven workflows, powering auto physical damage and casualty claims, and supporting the customer’s ability to estimate damage severity, schedule repairs, and beyond, creating more straight-through experiences for drivers and insurers.

"Real-time crash notification data unlocks new possibilities for insurers to transform the entire claims resolution experience,” said Marc Fredman, Chief Strategy Officer, CCC. “By understanding the facts of an accident in the moments following the event, insurers can make more timely, informed decisions that impact policyholder satisfaction and claims costs. Zendrive is a proven provider of smartphone-centric crash detection services and we’re excited to help insurers connect to this type of data through our platform, supporting their claims objectives and efforts to achieve straight-through processing."

The CCC Cloud connects a network of 30,000 companies across the P&C insurance economy, including auto insurers, collision repairers, car manufacturers, parts suppliers, lenders, telematics data providers, and more.

To learn more about telematics-enabled claims, please visit: https://cccis.com/insurance-carriers/claims-solutions/apd/telematics/.

About Zendrive

Zendrive’s mission is to make roads safer through data and analytics. Its award-winning Mobility Risk Intelligence (MRI) platform — powered by 200 billion miles of data gathered from 100s of millions of drivers across the globe — helps insurers understand and mitigate mobility risk, reducing the likelihood of collisions by 49%. The platform also helps insurers find and acquire preferred risk, engage policyholders with unique digital insurance programs, and provide instant support in the moments of truth. With 100s of thousands of verified collisions detected through its patented technology, the MRI platform offers the most accurate and scalable smartphone-centric solutions for claims automation. The company has been recognized as one of Fast Company’s Most Innovative Companies and was recently included in the global Insurtech 100 list of most innovative companies

About CCC

CCC Intelligent Solutions Inc. (CCC), a subsidiary of CCC Intelligent Solutions Holdings Inc. (NYSE: CCCS), is a leading SaaS platform for the multi-trillion-dollar P&C insurance economy powering operations for insurers, repairers, automakers, part suppliers, lenders, and more. CCC cloud technology connects more than 30,000 businesses digitizing mission-critical workflows, commerce, and customer experiences. A trusted leader in AI, IoT, customer experience, network and workflow management, CCC delivers innovations that keep people’s lives moving forward when it matters most. Learn more about CCC at www.cccis.com.

Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding future use and performance of CCC’s digital solutions. Such differences may be material. We cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, competition, including technological advances and new products marketed by competitors; changes to applicable laws and regulations and other risks and uncertainties, including those included under the header “Risk Factors” in most recently filed Form 10-K by CCC with the Securities and Exchange Commission (“SEC”) on March 1, 2022, which can be obtained, without charge, at the SEC’s website (www.sec.gov). The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221213005109/en/

CCC Media Contact: Michelle Hellyar

mhellyar@cccis.com | 773.791.3675

Source: CCC Intelligent Solutions Inc.

FAQ

What is the partnership between CCC and Zendrive?

CCC Intelligent Solutions partnered with Zendrive to integrate mobile crash detection data into its claims management solutions, enhancing the efficiency of claims processing.

How does Zendrive improve CCC's claims management?

Zendrive provides real-time crash data that helps insurers make timely, informed decisions during the claims process, resulting in faster resolutions.

What benefits does the CCC-Zendrive collaboration offer insurers?

The collaboration allows insurers to leverage detailed crash data, facilitating quicker claims processing and better customer experiences.

How many auto insurers does CCC work with?

CCC works with over 300 U.S. auto insurers, including 18 of the top 20 carriers.

What technology powers Zendrive's crash detection?

Zendrive uses proprietary AI and machine learning algorithms, trained on 200 billion miles of driving data, to accurately detect accidents.