CCC Intelligent Solutions Launches Industry First: Touchless Auto Estimates With Line Level Detail
October 28 2021 - 8:00AM
Business Wire
USAA Among First of Four Auto Insurers Now Live
with CCC Estimate – STP, Driving the Industry’s Vision for
Straight-Through Claims Processing
CCC Intelligent Solutions Inc. (“CCC”), a leading SaaS platform
for the P&C insurance economy, announces it has made touchless
estimating a reality. The AI-powered CCC® Estimate-STP uses
advanced AI and insurer-driven rules to automatically initiate and
populate detailed and actionable estimates in seconds. In market
with four national insurers, including USAA, CCC Estimate – STP
offers touchless line level estimates from photos and is part of
CCC's broader offering that is digitizing the auto claims
experience.
“CCC Estimate – STP utilizes AI at levels not previously seen in
the industry and delivers the first ever touchless estimating
experience," said Barrett Callaghan, Executive Vice President,
Markets and Customer Success for CCC. “CCC is excited to deliver
innovations that simultaneously reset expectations for insurers and
policyholders, removing friction, increasing transparency and
delighting policyholders by accelerating the claims experience.
What many thought was impossible or years away is now live in
market with CCC-powered estimates being completed in seconds versus
days.”
CCC Estimate – STP uses a powerful combination of technologies,
data, and partner connections to digitally generate comprehensive
estimates for qualified repairable claims. The outcome is
actionable estimates with line-level detail, including parts, labor
operations and hours, and taxes. CCC Estimate – STP is configurable
by insurer, including claim eligibility thresholds and desired
policyholder communication experiences.
In market now, insurance customers live on CCC Estimate – STP
have marked an important step on their digital transformation
journey.
“Our members are at the center of everything we do, which today
means delivering digital-first experiences whenever we can,” said
Sean Burgess, USAA Chief Claims Officer. “We are excited to be
first to include the touchless estimating capabilities available
through CCC Estimate – STP in our claims process, automating steps
that free our team to focus on the personal, compassionate aspects
of the experience.”
“Touchless claims have long been the industry’s vision. CCC is
delivering the future today,” said Dr. Seth Rachlin, Executive Vice
President and Global Insurance Industry Leader at Capgemini.
“Advancements like these create the underpinnings of a frictionless
enterprise capable of better business outcomes and long-term
policyholder value. This is an important milestone in the
industry’s transformation.”
Today, CCC’s network of 30,000 customers use its solutions to
digitize operations, improve performance, and deliver seamless
experiences to their policyholders across millions of claims
annually. Insurer adoption of CCC’s advanced AI using
deep-learning, an important element of CCC Estimate – STP,
increased 50 percent year over year in 2020, and through 2020, more
than 5 million unique claims had been processed using a CCC
deep-learning AI solution. Today, more than 90 insurers are
actively applying CCC’s advanced AI to their claims process to
improve policyholder experiences. CCC Estimate – STP builds on
CCC’s track record of success and integrates seamlessly into the
claim workflow of existing CCC clients.
Learn more about CCC Estimate – STP.
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 the definitive proxy statement/prospectus filed by
Dragoneer Growth Opportunities Corp. with the Securities and
Exchange Commission (“SEC”) on July 6, 2021, 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.
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CCC Media Contact: Michelle Hellyar mhellyar@cccis.com |
773.791.3675
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