The AI-Powered Subrogation Platform Recognized for its Work with Root Insurance
CHICAGO–(BUSINESS WIRE)–CCC Intelligent Solutions Inc. (CCC), a leading SaaS platform powering the P&C insurance economy, announced today it is a winner of the 2022 IDC FinTech Rankings Real Results Award which recognizes tech providers that have enabled a genuine, measurable, and future-enabling change at a client financial institution. The Company was recognized with an Efficiency and Agility Award for its CCC® Safekeep AI-powered subrogation platform and its work improving subrogation outcomes for Root Insurance.
The Real Results Awards are published in conjunction with the most comprehensive vendor ranking in the financial services industry, the annual IDC FinTech Rankings, which ranks companies based on 2021 calendar year revenues attributed to financial institutions. CCC ranks # 47 of 100 providers of financial technology.
“Congratulations to the CCC team for their work bringing a powerful and differentiated approach to subrogation,” Mark LeMaster, chief claims and customer services officer for Root. “We think this tech will drive meaningful value to our subrogation recoveries over time.”
Added Jeff To, senior vice president of CCC Safekeep, “CCC is excited to be recognized by IDC for our CCC Safekeep subrogation platform. Our solution has proven to customers like Root that CCC Safekeep can help claims organizations significantly reduce their loss ratios. Through AI and insurer connections we are transforming subrogation identification and recovery.”
CCC Safekeep applies a combination of machine-learning, natural language processing, insurer rules, and predictive models to score and prioritize claims for more efficient subrogation management. The Safekeep technology also allows insurers to digitally package documents, and automates workflows, removing manual touch points to accelerate and improve subrogation outcomes.
“As the industry gets back its feet after years of disruption, the case studies submitted to this year’s IDC FinTech Rankings Real Results program showed a great return to innovation in every area of the financial services industry,” said Jerry Silva, vice president at IDC Financial Insights. “IDC congratulates the vendors that helped financial organizations get back to the business of innovation.”
Learn more about CCC Safekeep.
For more information about the rankings, visit HERE, and on Twitter follow @IDC and look for #IDCFinTechRankings.
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.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC’s analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a subsidiary of IDG world’s leading technology media, research, and events company. To learn more about IDC, please visit www.idc.com or follow IDC on Twitter at @IDC.
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 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.
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