CCC Intelligent Solutions Holdings Inc. - CCCS STOCK NEWS

CCC Intelligent Solutions (NYSE: CCCS) announced an expanded partnership with Elephant Insurance to enhance digital claims processing. Utilizing CCC's AI-driven technology, Elephant aims to streamline total loss claims, improving efficiency and customer satisfaction. The collaboration addresses rising total loss situations fueled by increasing vehicle costs and supply chain issues. CCC's solutions will enable real-time engagement with policyholders, facilitating quicker resolutions and improved customer experience. This digital transformation is expected to significantly decrease processing times for claims.

CCC Intelligent Solutions Inc. (NYSE: CCCS) has announced its participation in two upcoming investor conferences. The first is the J.P. Morgan Global Technology, Media and Communications Conference in Boston, scheduled for May 24, 2022, at 10:50 a.m. ET. The second event is the William Blair Growth Stock Conference in Chicago, set for June 7, 2022, at 2:00 p.m. CT. Live webcasts of these presentations will be accessible on CCC's investor relations website.

CCC Intelligent Solutions (NYSE: CCCS) has announced a partnership with Bear River Mutual Insurance Company to enhance claims processing through CCC’s advanced AI and mobile solutions. Bear River Mutual will utilize CCC’s digital tools, including mobile photo capture and Smart Estimate®, improving efficiency and customer service. CCC’s platform supports over 300 auto insurers in the U.S., with a focus on transforming the claims experience for policyholders. This collaboration signifies a shift towards digital claims management in the insurance industry.

CCC Intelligent Solutions Holdings Inc. (NYSE: CCCS) reported strong first quarter 2022 results with 18% revenue growth to $186.8 million and 33% adjusted EBITDA growth to $73.7 million. The company achieved a GAAP net income of $12.0 million, recovering from a loss of $5.1 million in Q1 2021. With 74% gross profit margin, CCC emphasizes its growth potential in the digitizing P&C insurance industry. The company provided guidance for Q2, projecting revenue between $189.5 million and $191.5 million, and adjusted EBITDA between $69 million and $71 million.

CCC Intelligent Solutions Holdings Inc. (NYSE: CCCS) is set to announce its financial results for Q1 FY2022, ending March 31, 2022, on May 5, 2022, after market close. The company will also hold a conference call at 5:00 p.m. ET on the same day to discuss the results and future outlook. CCC, a leader in SaaS for the P&C insurance sector, connects over 30,000 businesses with innovative cloud technology that enhances customer experiences and operational efficiencies.

CCC Intelligent Solutions Inc. announces the promotion of Scott Janik to Senior Vice President of the Insurance Services Group. Janik, who has been with the company since 2007, will focus on strategic growth and aligning business priorities to meet customer needs. This shift occurs during a pivotal time as the auto insurance sector increasingly adopts AI technology, with over 9 million claims processed using CCC’s AI solutions. Janik aims to enhance digital transformation for over 300 clients, promising enhanced customer experiences.

CCC Intelligent Solutions Inc. has implemented BillingPlatform to enhance its billing processes, aiming to improve operational efficiency and offer diverse invoicing models. This integration is designed to support CCC’s complex pricing structures and facilitate smoother client management and renewals. The CEO of BillingPlatform highlighted the importance of their enterprise-grade solution in addressing CCC's diverse billing needs. The partnership is positioned to provide significant advantages in monetization and customer experience.

CCC Intelligent Solutions Holdings announced the pricing of a public offering of 20 million shares of common stock at $9.70 per share. This offering, set to close around April 11, 2022, involves existing stockholders as sellers; the Company will not receive any proceeds. An additional 3 million shares may be available through underwriters' options. Morgan Stanley and Citigroup lead the offering with several other financial institutions acting as managers. The registration statement has been approved by the SEC, and the offering documents are accessible online.

CCC Intelligent Solutions Holdings Inc. (NYSE: CCCS) has announced an underwritten public offering of 20 million shares of its common stock by existing stockholders. The Selling Stockholders plan to allow the underwriters a 30-day option to purchase an additional 3 million shares. The offering will not generate any proceeds for the company, as all shares sold will come from the Selling Stockholders. Morgan Stanley and Citigroup are the joint book-running managers for this offering. The SEC has declared the registration statement effective.