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CCC Intelligent Solutions Holdings Inc. (Symbol: CCCS) is a leading provider of cutting-edge technology solutions for the automotive and property & casualty insurance industries. For over 30 years, CCC has pioneered innovative software, delivering exceptional customer service and insightful analysis to shape the industry. Their advanced SaaS platform, utilizing cloud, mobile, AI, telematics, and hyperscale technologies, connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. CCC is instrumental in helping people get back into their cars quickly after accidents through seamless integrations between insurers, auto manufacturers, repairers, part suppliers, and millions of drivers worldwide.
Recent achievements include significant advancements in telematics, ridesharing, autonomous vehicles, and usage-based insurance, demonstrating their commitment to driving the future of vehicle and insurance technology. With a strong presence in the United States and China, CCC generates the majority of its revenue from software subscriptions and professional services, primarily within the U.S.
The company’s ecosystem not only enhances operational efficiencies but also delivers superior customer experiences, making CCC a pivotal player in the insurance economy. Whether you are an insurer, auto manufacturer, or repairer, CCC offers the solutions you need to innovate and succeed. If you are looking to be part of a dynamic and forward-thinking team, CCC Intelligent Solutions Holdings Inc. is the place to be.
CCC Intelligent Solutions reports a significant 60% year-over-year growth in the use of its advanced AI for claims processing. In 2022, the company processed over 14 million unique claims using its AI solutions, a 3X increase since 2019. The adoption of the industry-first AI-powered touchless estimating solution, CCC Estimate – STP, is now utilized by 15 insurers, including 7 of the top 10 carriers, covering 50% of U.S. auto claims volume. The report highlights increasing claims initiated by digital photos, with 27% of claims in 2022 driven this way. Despite progress, CCC acknowledges ongoing challenges like labor shortages and vehicle complexity that demand further AI integration.
Root Insurance has expanded its partnership with CCC Intelligent Solutions to enhance casualty claims processing. The integration of CCC First-Party Casualty allows Root to manage auto physical damage and casualty claims through a single digital workflow. This solution digitizes bill intake and utilizes insights for accurate medical bill reviews. The collaboration aims for improved claims efficiency and outcomes through better data utilization. Root Insurance has garnered nearly 11 million app downloads and collected over 18 billion miles of driving data for its offerings.
CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS) announced that it will release its financial results for the fourth quarter and fiscal year 2022, ending December 31, 2022, on March 1, 2023, after U.S. markets close. A conference call to discuss these results and the business outlook will occur the same day at 5:00 p.m. ET. Interested parties can access a live webcast on the Investor Relations page of the company's website. CCC is a leading SaaS platform serving the P&C insurance and repair industries, connecting over 30,000 businesses to enhance operational efficiency and customer experience.
CCC Intelligent Solutions has announced a new integration between its CCC ONE Repair Workflow and CDK Global's dealer management system, aimed at enhancing efficiency in dealer-owned collision centers. This integration will streamline operations by synchronizing crucial information such as repair orders and vehicle details, thereby reducing manual data entry and minimizing errors. According to Mark Fincher from CCC, this advancement addresses the traditional disconnect in collision repair processes. The integration promises to improve the repair management experience for both dealers and vehicle owners, ultimately enhancing operational performance.
CCC Intelligent Solutions Inc. announces the retirement of Susanna Gotsch, Sr. Director Industry Analytics, after 30 years of service. Her contributions have been significant, including the development of CCC's Crash Course publication and recognition as one of the 'Most Influential Women in the Collision Repair Industry'. Jason Verlen will lead the trends and insights team moving forward, with additional focus from Kyle Krumlauf and Erik Bahnsen on specific areas. Chairman and CEO Githesh Ramamurthy highlighted the need for expanded capabilities to address industry complexities.
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.
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