Automate and Improve Claims Subrogation Management with CCC Intelligent Solutions’ AI-Powered Safekeep Guidewire Marketplace App

Rhea-AI Summary

Guidewire (GWRE) and CCC Intelligent Solutions (CCCS) announced the launch of CCC Safekeep, a new accelerator for Guidewire ClaimCenter. This AI-backed platform enhances subrogation management by automating data handling and streamlining workflows for insurance claims. The integration allows for faster identification and prioritization of recoverable claims, ultimately improving efficiency and accuracy. The CCC Safekeep platform will support various insurance lines, including auto and property.

Positive

• Launch of CCC Safekeep to automate and streamline subrogation management.
• Integration of CCC Safekeep with Guidewire ClaimCenter enhances operational efficiency.
• AI technology allows for near-real-time detection of recoverable claims.

Negative

• None.

SAN MATEO, Calif. & CHICAGO--(BUSINESS WIRE)-- Guidewire (NYSE: GWRE) and CCC Intelligent Solutions (CCC), a leading SaaS platform digitizing the P&C insurance economy, today announced that CCC’s new Ready for Guidewire validated accelerator for ClaimCenter – CCC^® Safekeep – is now available to users in the Guidewire Marketplace.

Insurers deploy digital strategies and AI to streamline workflows and improve their customer’s experience. Insurers’ ability to recover payments from third-party entities for claims losses, called subrogation, traditionally has been a time-intensive, manual process requiring in-depth investigations and analyses. CCC Safekeep, an enterprise platform that is part of CCC’s suite of smart digital solutions, is designed to leverage AI to speed and improve subrogation management to monitor, score, and prioritize claims according to an insurer's specific parameters.

The CCC solution removes manual touchpoints to help streamline the recovery process, reduce cycle times and improve accuracy by digitally packaging and automatically sending data, materials and evidence needed for negotiations. CCC Safekeep for Guidewire ClaimCenter integrates subrogation data directly into insurers’ digital workflows according to insurer rules, streamlining recovery identification, referrals, and the investigation process.

Within ClaimCenter, CCC Safekeep enables claims and subrogation adjustors to:

• Leverage AI-powered technology to quickly analyze data and evidence, and
• Provide near-real time detection of potentially recoverable dollars across the claims process.

CCC Safekeep can be used to help improve subrogation management across auto, property, workers’ compensation, and other insurance lines of business.

“Safekeep’s AI engine applies a combination of machine-learning, natural language processing, rules, and predictive models to score and prioritize claims for more efficient subrogation management,” said Jeff To, senior vice president, CCC Safekeep. “That increases the identification of subrogation opportunities, as well as accelerates time to resolution. We're excited to expand upon the number of integrations that already exist between CCC and Guidewire.”

“We congratulate CCC Safekeep on its accelerator for ClaimCenter,” said Becky Mattick, vice president, Global Solution Alliances. “As an AI-decisioning solution, Safekeep simplifies subrogation and enables insurers to better serve customers and manage their businesses more profitably.”

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 and AI 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.

About Guidewire PartnerConnect ecosystem and Ready for Guidewire

Guidewire’s solution ecosystem is the largest in the P&C industry, with over 150 solution partners providing over 170 integrations in the Guidewire Marketplace. Guidewire PartnerConnect Solution partners provide software, technology, and data solutions as well as insurance support services. Our Solution partners help drive business value and innovation for insurers by developing and delivering integrations, extensions, apps, and other complementary solutions for Guidewire products. All of our Ready for Guidewire partner solutions are validated for security, quality, and compatibility with Guidewire, and can be found on the Guidewire Marketplace.

For more information about Guidewire PartnerConnect, please visit http://www.guidewire.com/partners.

About Guidewire Software

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 450 insurers, from new ventures to the largest and most complex in the world, run on Guidewire.

As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.

For more information, please visit www.guidewire.com and follow us on Twitter: @Guidewire_PandC.

NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220726005240/en/

Melissa Cobb

Senior Public Relations Manager

Guidewire Software, Inc.

+1.650.464.1177

mcobb@guidewire.com

Michelle Hellyar

Director Public Relations

CCC Intelligent Solutions

mhellyar@cccis.com

Source: Guidewire Software

FAQ

What is CCC Safekeep and how does it benefit Guidewire ClaimCenter users?

CCC Safekeep is an AI-powered accelerator for Guidewire ClaimCenter that automates subrogation management, improving efficiency by quickly analyzing data and prioritizing claims.

How does CCC Safekeep improve the claims process?

CCC Safekeep enhances the claims process by reducing manual touchpoints, speeding recovery, and increasing accuracy through digital packaging of necessary evidence.

Which insurance lines can benefit from CCC Safekeep?

CCC Safekeep can improve subrogation management for auto, property, workers' compensation, and other lines of insurance.

When was the CCC Safekeep accelerator announced?

The CCC Safekeep accelerator was announced on July 26, 2022.

What companies are involved in the CCC Safekeep launch?

The launch involves Guidewire (GWRE) and CCC Intelligent Solutions (CCCS).