Insurtech Leader CCC Intelligent Solutions Reports 50% Year-Over-Year Increase in Advanced AI Application for Complaints Handling
Adoption of CCC’s AI-powered contactless estimation solution doubled to 8 national insurers in three months of innovation launch
CCC also announced that insurers’ adoption of its first AI-powered contactless estimation solution, CCC® Estimate – STP, has doubled to 8 national insurers since the launch of the solution in
“The data paints a clear picture of an industry embracing innovation and insurers activating AI at scale,” said
The strong growth in AI-based claims is driven by an increase in the number of insurers using AI solutions and the expansion of applications for AI across their businesses, including estimation, audit, total loss management, damage and fraud detection. The number of insurers using at least one of CCC’s AI-powered solutions grew almost 30% year-on-year.
A leader in AI-powered solutions, CCC’s application of AI extends beyond claims decision-making. CCC’s solutions leverage AI to improve customer interactions, streamline operations, and digitize reviews. Whether it’s applying language recognition to better engage consumers, computer vision to assess medical bills, or deep learning to accelerate decisions throughout the claims lifecycle, CCC continues to ” apply AI to improve policyholder interactions and operations across the network.
Learn more on CCC’s AI solutions.
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements 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”, “,” Believe “,” estimate “,” anticipate “,” project “,” potential “,” continue “,” in progress “or the negative of these terms or other comparable terminology, although all forward-looking statements do not contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from the information expressed or implied by such forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding the future use and performance of CCC’s digital and AI solutions. Such differences can be significant. We cannot assure you that any forward-looking statements contained in this press release will prove to be correct. These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, competition, including technological advances and new products marketed by competitors; changes in applicable laws and regulations and other risks and uncertainties, including those included under the heading “Risk Factors” in the Management Proxy Circular / Final Prospectus filed by
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