CCC Intelligent Solutions has been cited as a sample vendor for its claims analytics capabilities in two Hype Cycle reports published by Gartner, the world’s leading information technology research and advisory company. “Hype Cycle for P&C Insurance, 2012” and “Hype Cycle for Big Data, 2012” both examine the potential benefit of established and emerging technologies to help insurance carriers evaluate and make informed technology purchasing decisions. The reports were published in July and note that the use of claims analytics is at their peak. CCC is the leading provider of software and information technology to the U.S. auto physical damage industry.
As Kimberly Harris-Ferrante of Gartner noted in the Hype Cycle Reports, “P&C Insurers using claims analytics will gain better insight into their claims operations, including the impact of claims servicing on customer retention, the cost of claims handling, process bottlenecks, and better financial intelligence to identify leakage and loss. Greater insight will give claims managers the ability to run their units effectively, and make a better contribution to corporate profitability and operational efficiency.”
The insurance industry has always made use of data to make better decisions. The underwriting department of an insurance company has been at the forefront of data use for many years – using historical claims data as well as factors such as driver age, gender, and credit score, to project potential for loss, and make risk determinations. Today’s business environment and changing consumer demands have carriers turning to data to help create a competitive advantage and sustainable customer satisfaction.
“Claims analytics solutions have been the proven workhorse of many claims operations, delivering valuable insight to drive better decision-making,” said Chetan Ghai, SVP, Global Products and Technology, CCC Intelligent Solutions “CCC is excited to be considered by Gartner as sample vendor. We’re also very excited to combine our industry expertise, track record in analytics, and our investments in new technologies to bring predictive modeling capabilities to the market, delivering the next wave of solutions for improved decision-making and performance.”
To read more on the topic, please visit: cccutilities.wpengine.com to download a complimentary copy of Analytics and Big Data, an industry perspective by CCC Lead Analyst Susanna Gotsch.
About CCC Intelligent Solutions
CCC brings together what matters most – insight to make the best decisions, connections into the largest auto claims network and superior productivity through an innovative single platform. Founded in 1980, CCC is the nation’s leading provider of advanced software, workflow tools and enabling technologies to the automotive claims and collision repair industries. Its client base includes more than 350 insurance companies and more than 22,000 repair facilities. CCC also delivers the most comprehensive, best-in-class industry insight by leveraging data captured from the millions of transactions processed through its network, and the forward-looking, trusted advisor perspective of its people. You can find out more about CCC Intelligent Solutions by visiting the company’s website at cccutilities.wpengine.com.
About the Hype Cycle
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.