CHICAGO–(BUSINESS WIRE)–CCC Intelligent Solutions Inc. (CCC), a leading SaaS platform driving the P&C economy, today announced that it is a winner of the 2022 IDC FinTech Rankings Real Results Award that recognizes technology providers that have enabled real, measurable and future change with a client financial institution. The company was recognized with an efficiency and agility award for its CCC® Safekeep AI-powered subrogation platform and work to improve subrogation results 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 revenue attributable to financial institutions. CCC ranks #47 out of 100 financial technology providers.
“Congratulations to the CCC team for their work in bringing a powerful and differentiated approach to subrogation,” said Mark LeMaster, Root’s CEO and Chief Customer Service Officer. “We believe this technology will provide meaningful value to the recovery of subrogation over time.”
Jeff To, senior vice president of CCC Safekeep, added: “CCC is pleased 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 rates. Through AI and insurance connections we are transforming subrogation identification and recovery.”
CCC Safekeep uses a combination of machine learning, natural language processing, insurance company rules and predictive models to score and prioritize claims for more efficient subrogation administration. Safekeep technology also allows insurers to package documents digitally, automating workflows, removing manual touchpoints to accelerate and improve subrogation outcomes.
“As the industry recovers from years of disruption, the case studies submitted to this year’s IDC FinTech Rankings Real Results program demonstrated a strong return to innovation in all areas of the financial services industry,” said Jerry Silva, vice president of IDC Financial Insights. “IDC congratulates the vendors who helped financial organizations get back into the business of innovation.”
Learn more about CCC Safekeep.
For more information on the rankings, visit HERE, and on Twitter follow @IDC and look for #IDCFinTechRankings.
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-billion-dollar non-life insurance economy that runs operations for insurers, repairers, auto manufacturers, parts suppliers, lenders and more. CCC cloud technology connects more than 30,000 businesses digitizing mission-critical workflows, commerce and customer experiences. CCC is a trusted leader in AI, IoT, customer experience, network and workflow management, delivering innovations that keep people’s lives moving forward when it matters most. Learn more about CCC at www.cccis.com.
About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services and events for the information technology, telecommunications and consumer technology industries. With more than 1,100 analysts worldwide, IDC provides global, regional and local expertise on technology and industry opportunities and trends in over 110 countries. IDC’s analysis and insights help IT professionals, business leaders and the investment community make fact-based technology decisions and achieve their most important business goals. Founded in 1964, IDC is a subsidiary of IDG, the world’s leading technology media, research and events company. To learn more about IDC, 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,” “believes”, “estimates”, “predict”, “projects”, “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 could cause actual results, activity levels, performance or achievements to differ materially from the information expressed or implied in 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 sene is 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 CCC’s most recent Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 1, 2022, which may be obtained free of charge on 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 expect that subsequent events and developments will cause our views to change. Although we may choose to update these forward-looking statements at some point in the future, we have no current intention to do so except to the extent required by applicable law. Therefore, you should not rely on these forward-looking statements as representing our views as of any date after the date of this press release.
