CCC Information Services | Top 20 Insurance Tech Solution Company - 2020
CCC Information Services: Improving the Experience for Millions of Drivers
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CIOREVIEW >> Banking Insurance >> CCC Information Services

CCC Information Services has been recognized by CIOReview Magazine as the recipient of “Top 20 Insurance Tech Solution Companies - 2020,” based on our proprietary methodology, reflecting its position in the industry. This profile has been developed by the CIOReview research and editorial team based on insights from an interview with Jason Verlen, SVP Product Management.

CCC Information Services
Improving the Experience for Millions of Drivers

CCC Information Services

Jason Verlen, SVP Product Management
Consumer demand for digital-first experiences is driving rapid innovation across AI, mobile, IoT and more. COVID-19 has accelerated this transformation across multiple industries, including banking, entertainment, retail, and others. The automotive and insurance industries are no exception, where heightened expectations around customer experience are bringing the role of connected data and platform-enabled technology into hyper focus for insurers.

This is where CCC Information Services (CCC) comes in.

CCC is the industry leader connecting data across key segments of the multi-trillion dollar driving economy. The company collaborates with leading insurers, automotive manufacturers, collision repairers, parts suppliers, lenders, and fleet operators to create elevated customer experiences through its cloud-based SaaS platform and digital and data service solutions. Connecting industries and accelerating decision-making, CCC is supporting digital transformations, and ultimately helping to transform experiences for the billions of consumers its clients serve daily.

Whether a client is helping a consumer select auto insurance for anew vehicle or reacting and responding to an accident event, CCC’s technology is at work. A digital-first mindset, CCC is harnessing mobile, AI, and IoT, to help insurers better serve policyholders - guiding, informing, speeding, modernizing, and connecting each step along the customer journey.

CCC is proof insurers are ready for transformation.

“The adoption of CCC’s photo estimating technology has more than doubled in 2020 with some carriers using photo estimates on more than half of their total claims volume,” said Jason Verlen, SVP of product management for CCC. And according to industry research and consumer-research from CCC, consumers like the technology. Verlen added, “Our research shows that digital claim filing is associated with a more positive overall claim experience and faster claim resolution. Most consumers that have used digital technology to file a claim say they would do so again.”

CCC also sees the impact AI is having on how its insurance clients do business, accelerating decisions and improving outcomes. According to Verlen AI isn’t a vision, but the reality for more than 50 insurance carriers already working with the AI leader across a variety of use cases.

Beyond driving business efficiencies, AI has a much bigger role to play in delivering on consumer expectations for self-directed experiences. Today, CCC’s AI solutions are powering personalized decisions at scale for its clients – providing unprecedented clarity, identifying anomalies to reduce risks, and elevating the consumer experience.

CCC understands that the relationships its clients have with their customers should not be a series of events, but a single end-to-end experience. From initial engagement to resolution, data flow and communication should be a seamless part of the process.

To support this seamless communication objective, CCC provides dynamic two-way texting to make it easy for insurers to engage with policyholders throughout the customer journey – from policy to claims and across all lines of business. In addition to offering enterprise capabilities, the texting solution, CCC Quick Chat, deeply integrates with CCC’s proven mobile and AI-powered claims solutions. Thus enabling real-time text conversations across each phase of a claim, speeding and improving the process for everyone involved.

This integrated approach to communications can extend across the insurance ecosystem, which is essential when so much of the auto insurance experience – especially when it comes to claims – is dependent upon the successful activation of a dynamic network, including collision repair, parts, lenders, and salvage. CCC has those connections covered and is positioned to help clients deliver a cohesive, personalized journey to customers.

Over the years, CCC has set a path for digital transformation in the insurance sector. AI-guided insurance services are refining the experiences of millions of drivers. CCC has successfully bridged the gap between technology and network, delivering a holistic, integrated platform helping clients transform the experience for billions of drivers.

CCC Information Services

News

Toyota Motor North America Selects CCC® Parts Technology

Thursday, July 27, 2023

CCC® Promote Helps Toyota and Lexus Dealers Present Promotional Parts Pricing to Thousands of Body Shops as Repair Estimates Are Being Written

CHICAGO -
CCC Intelligent Solutions (CCC) announces today that Toyota Motor North America (Toyota) will use CCC® Promote to support Toyota and Lexus dealers across the United States in their parts marketing efforts. CCC Promote enables parts suppliers to offer promotional pricing on parts to collision repairers as estimates are being written within the CCC ONE® platform. CCC estimating software is in use by more than 28,500 repairers and processes more than 26 million repair estimates annually.

“We are excited to offer our customers exceptional value on their parts purchases and our Toyota Dealers the opportunity to capture more parts sales,” said Mark Nazario, vice president, Guest Experience and Retention, Toyota. “We’ll be able to help our dealers offer promotional pricing on critical collision parts at the moment when repair estimates are being generated. We are looking forward to working with CCC, a leader in collision estimation and parts procurement, and being able to utilize CCC’s Promote technology.

CCC Promote provides suppliers with a convenient means to offer promotional pricing during the initial estimation phase when replacement part choices are being considered. The pricing can be tailored according to the vehicle's make, model, year, or part type. CCC Promote plays a vital role as part of CCC® Parts, the company's e-commerce platform for automotive parts. These two components collaborate to automate and streamline the process of acquiring parts, starting from offering upfront promotional pricing, generating electronic price quotes, managing orders and invoices, all the way to settling rebates with the suppliers. CCC facilitates more than $13 billion in parts sales annually and seamlessly integrates with major DMS providers.

“We are proud to support Toyota as it expands its parts marketing strategy, reaching more collision repairers earlier in the decision-making process,” said Andreas Hecht, senior vice president, CCC Mobility. “The CCC ONE platform is home to a dynamic, open community of participants who rely on real-time information to make business-critical decisions. We welcome Toyota to the network and look forward to connecting them to new opportunities.”

CCC Brings AI to Collision Repairers Offering Relief to Shop Labor Shortages

Tuesday, October 17, 2023

Advanced AI Solutions Integrate into CCC ONE Repair Process, Enabling Shop Estimators to Save Time and Stay Focused on Critical Tasks

CCC Intelligent Solutions Inc. (CCC), a leading cloud platform powering the P&C insurance and collision repair economy announced the introduction of its applied AI to collision repairers, offering relief to a community hit particularly hard by national labor shortages. The new AI-powered solutions integrate into the repair process of CCC ONE users, automating initial damage assessments and jumpstarting the estimating process. This helps experienced estimators – a shop’s valuable, yet scarce resource – remain focused on the most important tasks.

“AI gets the estimate started and then we can document additional damage right at the car with the customer using CCC ONE Mobile.”

Repair Cost Predictor uses AI to automate an initial damage assessment, instantly generating a repair cost prediction of damage for consumers, while Mobile Jumpstart uses AI to pre-populate an initial estimate from a user’s mobile phone. Both solutions save an estimator’s precious time by streamlining labor-intensive tasks, as well as delivering intelligent solutions that help create the best possible outcome for everyone involved in the repair process.

“Our estimators are putting in long hours, struggling to keep up with the daily demands placed on our shop,” shared Michael Whittemore, owner of Flagstaff Collision Center in Flagstaff, Arizona. “CCC’s new AI solutions have already made a real difference. Our estimators now have breathing room to focus on what truly matters—delivering exceptional service to our customers. Our customers that have used Repair Cost Predictor love how quickly they can get an idea of how much repairs may cost, empowering them to make informed decisions about what to do next.”

Repair Cost Predictor, a feature of CCC Engage, applies AI to digital photos of vehicle damage submitted by consumers, generating a predicted range for the cost of repair in seconds. The tool helps inform consumers about the potential extent of damage to their vehicles so they can determine next steps, including if they want to file a claim. It also allows them to schedule an appointment for a detailed estimate with their selected repair facility.

“Our estimators have wanted the ability to start writing estimates from their phone while at the car and Mobile Jumpstart lets them do just that,” Whittemore continued. “AI gets the estimate started and then we can document additional damage right at the car with the customer using CCC ONE Mobile.”

Mobile Jumpstart, a feature of CCC ONE Estimating IQ, enables technicians to initiate the estimating process right at the vehicle using their smartphones. Advanced AI analyzes vehicle damage photos and pre-populates estimate lines using AI developed with millions of historical data points contained within CCC’s system. It also provides recommendations to repair, replace, or remove and install parts. Mobile Jumpstart empowers repairers to initiate estimates on the spot, sync work seamlessly and harness AI technology for more accurate estimates.


Top 20 Insurance Tech Solution Companies - 2020

Company
CCC Information Services

Headquarters
Chicago, IL

Management
Jason Verlen, SVP Product Management

Description
CCC is the industry leader connecting data across key segments of the multi-trillion dollar driving economy. The company collaborates with leading insurers, automotive manufacturers, collision repairers, parts suppliers, lenders, and fleet operators to create elevated customer experiences through its cloud-based SaaS platform and digital and data service solutions.Connecting industries and accelerating decision-making, CCC is supporting digital transformations, and ultimately helping to transform experiences for the billions of consumers its clients serve daily

Top 20 Insurance Tech Solution Companies - 2020

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