CCC Intelligent Solutions Holdings Inc. - CCCS STOCK NEWS

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.

CCC Intelligent Solutions Holdings Inc. (NYSE: CCCS) announced management's participation in a virtual fireside chat hosted by Bank of America Securities on December 12, 2022, at 11:00 a.m. ET. The presentation will be available for live webcast, with replays on CCC's investor relations website. CCC is a leading SaaS platform in the P&C insurance economy, connecting over 30,000 businesses through its innovative technology, which enhances workflows and customer experiences. For more details, visit www.cccis.com.

CCC Intelligent Solutions Holdings Inc. announced the voluntary transfer of its common stock listing from the New York Stock Exchange to the Nasdaq Global Select Market, effective December 19, 2022. The stock will continue to trade under the ticker symbol CCCS. CCC provides a leading SaaS platform for the property and casualty insurance economy, connecting over 30,000 businesses with AI and IoT technologies. This strategic move aims to enhance visibility and liquidity for the company's shares.

CCC Intelligent Solutions has launched the new CCC First Party Claim Portal in partnership with USAA. This innovative digital platform aims to streamline the auto-related casualty claims process by allowing policyholders to engage with their insurers more effectively. The portal offers real-time claim status updates and mobile document sharing, enhancing transparency and ease of access for members. USAA is the first insurer to utilize this technology, which aligns with its strategy to improve the overall claims experience for customers.

CCC Intelligent Solutions has enhanced its Carwise.com collision repair services website to improve user experience. Visitors can now filter their search results to find repair facilities with specialized industry and OEM certifications. This update aims to help over 5 million unique visitors annually find qualified repair shops, contributing to better consumer safety and satisfaction. The enhancements include access to details about more than 23,000 repair facilities and certification filtering for popular automotive brands.

CCC Intelligent Solutions Holdings Inc. (CCCS) reported strong financial results for Q3 2022, with revenue of $198.7 million, a 13% increase from $176.6 million in Q3 2021. Adjusted EBITDA reached $78.1 million, growing 11% year-over-year. The company improved its full-year revenue and adjusted EBITDA guidance, anticipating $779-$781 million in revenue and $302-$304 million in adjusted EBITDA for FY 2022. CCC's gross profit margin increased to 73%, and GAAP net income was $9.8 million, compared to a loss of $189.8 million in Q3 2021. CCC continues to expand its customer base and innovate its digital solutions.

CCC Intelligent Solutions has enhanced its CCC Diagnostics product to address complexities in the collision repair industry. The updates aim to streamline diagnostics billing and improve transparency, including customizable diagnostic profiles and a diagnostics workflow dashboard. New features allow repairers to configure notifications and specify diagnostic procedures while ensuring correct billing. With these enhancements, shops can more efficiently manage diagnostic operations and improve repair processes, ultimately benefiting their customers.

CCC Intelligent Solutions (NYSE: CCCS) and Sfara announce a partnership to enhance claims management in the insurance sector. This collaboration integrates Sfara's smartphone-based mobile crash detection data with CCC's claims management platform, allowing insurers to streamline the claims process from the First Notice of Loss (FNOL). With access to immediate accident data, insurers can make timely decisions, reducing claims costs and improving policyholder satisfaction. CCC supports over 300 U.S. auto insurers, enhancing their claims processing capabilities significantly.

CCC Intelligent Solutions has expanded its relationship with Assurance America to enhance casualty claims processing. The integration allows Assurance to handle auto physical damage and both first- and third-party casualty claims within a single digital workflow. This solution streamlines the medical bill review process, leveraging accident data to ensure accuracy and appropriateness in treatment costs. The collaboration aims to improve operational efficiencies and customer experiences in the insurance industry.