Auto insurers adopt AI at scale in 2021

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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

CHICAGO– (BUSINESS WIRE) –
Intelligent CCC solutions (CCC), the SaaS platform that powers the P&C insurance economy, today provided an update to its 2020 Insurer AI Adoption Report, which shows significant growth AI adoption in auto claims based on key metrics. The company reports a 50% year-over-year increase in the application of advanced AI for handling complaints. The company also reports that over 9 million unique complaints were processed using a CCC deep learning AI solution, increasing by over 80% in 2021, and the number of complaints using at least four of its AI applications has grown 6-fold year over year. .

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 October 2021. Today, more than 95 U.S. auto insurers are actively using CCC’s AI-powered capabilities.

“The data paints a clear picture of an industry embracing innovation and insurers activating AI at scale,” said Shivani Govil, product manager, CCC. “As our industry becomes more complex and consumer demand for personalized experiences increases, AI has become essential. Discrete AI applications are giving way to broader use cases and smarter automation. The sharp increase in the use of multiple AI applications and the rapid adoption of fully contactless estimation is proof of the digital transformation of the industry, which CCC is proud to lead, supporting the capacity of our customers to redefine the insurance experience.

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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.

About CCC

CCC Intelligent Solutions Inc. (CCC), a subsidiary of CCC Intelligent Solutions Holdings Inc. (NYSE: CCCS), is a leading SaaS platform for the multibillion-dollar property and casualty insurance economy for insurers, repairers, automakers, parts suppliers, lenders , etc. CCC cloud technology connects more than 30,000 businesses by digitizing critical workflows, commerce and customer experiences. A trusted leader in AI, IoT, customer experience, network and workflow management, CCC delivers innovations that empower people’s lives to move forward when it matters most. more. Learn more about the CCC at www.cccis.com.

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 Dragoneer Growth Opportunities Corp. with the Security and Trade Commission (“SEC”) on July 6, 2021, which can be obtained, free of charge, from the SEC website (www.sec.gov). The forward-looking statements contained in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will change our perspective. However, although we may choose to update these forward-looking statements at any time in the future, we currently have no intention of doing so, except to the extent required by applicable law. Therefore, you should not rely on any such forward-looking statements as representing our views as of a date subsequent to the date of this press release.

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CCC Media Contact: Michelle hellyar
[email protected] | 773.791.3675

Source: CCC Intelligent Solutions Inc.

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