AI and Advanced Technology Help Carriers Assess
Inbound Demands in Minutes and Efficiently Pay What They Owe When
Settling Subrogation Claims
CCC Intelligent Solutions Inc. (CCC), a leading cloud platform
powering the P&C insurance economy, announces the official
launch of CCC® Inbound Subrogation, a solution designed to help
carriers assess inbound demands in minutes and determine what they
owe. Inbound subrogation, the process of evaluating and resolving
claims demands initiated by third parties, is a crucial aspect of
insurance operations. CCC Inbound Subrogation leverages AI and
advanced technology to streamline the claims review process,
improving cycle time and reducing manual intervention.
“Reviewing inbound subrogation demand packages, some as long as
200 pages, can be a painstakingly slow and manual process prone to
inconsistencies, which can lead to inaccurate payments and
unnecessary delays,” said Jeff To, senior vice president of
Subrogation at CCC Intelligent Solutions. “To address this
challenge, CCC designed an inbound subrogation solution that
streamlines this process and uses AI to extract data and reduce
errors for all parties involved. Leading carriers have run demands
through the new solution, including several of the top 10 auto
carriers.”
With the introduction of CCC Inbound Subrogation, the company
becomes the first in the industry to offer an end-to-end AI-enabled
subrogation solution. CCC provides carriers with a centralized
system that utilizes AI and workflow to manage both inbound and
outbound, enhancing operational effectiveness for carriers.
CCC Inbound Subrogation automatically evaluates inbound demands
against configurable audit rules, and utilizes AI extraction,
classification, and identification of data to help carriers make
decisions on next steps. Carriers can extract relevant facts from
demand packages and assign them to the appropriate staff member as
well as automatically assess estimates based on carrier-configured
audit rules. CCC Inbound Subrogation also helps identify which
demands need further action and which can be settled, flag claims
that deviate from carrier guidelines, and document the carrier’s
decisions. Another feature being rolled out includes available
pre-uploaded state jurisdiction traffic laws, providing adjusters
and handlers a further starting point in their assessment.
“Inbound subrogation demands pose significant challenges for
insurers, often requiring meticulous review and assessment,” said
Andrew Schwartz, senior analyst at Celent. “Technological
innovations that use AI like CCC Subrogation are reshaping this
landscape, offering insurers the opportunity to expedite processes
and improve accuracy, ultimately driving operational efficiency and
better customer outcomes.”
CCC Inbound Subrogation is part of CCC® Subrogation, a suite of
solutions that apply AI and workflow automation to both outbound
and inbound subrogation. For outbound subrogation, the solution
helps improve outcomes by connecting to insurer claim data,
detecting subrogation potential, and streamlining demands,
negotiation, and settlement. For inbound subrogation, the solution
assesses demands in minutes using advanced technology, the
insurer’s own configurable audit rules, and CCC’s parts
history.
“Our experience with CCC’s Inbound Subrogation solution has
exceeded our expectations,” said Anthony Galianese, Director of
Technical Claims, CURE Auto Insurance. “The integration was
seamless, and adjusters quickly adopted the new easy-to-use
capabilities. We are seeing increased efficiency and accuracy in
handling our claims, enabling us to serve our customers
better.”
To learn more about CCC Subrogation, visit
cccis.com/subrogation.
About CCC
CCC Intelligent Solutions Inc. (CCC), a subsidiary of CCC
Intelligent Solutions Holdings Inc. (NASDAQ: 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 35,000 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.
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 digital solutions. 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 CCC’s filings with the
Securities and Exchange Commission (“SEC”), including the Form 10-K
filed February 28, 2024, 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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version on businesswire.com: https://www.businesswire.com/news/home/20240320572721/en/
Laura Weber lweber@cccis.com | 773.960.7144
CCC Intelligent Solutions (NASDAQ:CCCS)
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