CCC Intelligent Solutions Inc. announced March 28 it has been recognized by Business Intelligence with two Artificial Intelligence (AI) Excellence Awards.
The 2023 AI Excellence Awards recognize organizations, products and people applying AI to solve real business challenges.
CCC's industry-first AI-powered estimating solution CCC® Estimate-STP was recognized as a top innovation in the product category for 2023. CCC Estimate-STP uses advanced AI and insurer-driven rules to automatically initiate and populate detailed and actionable estimates for qualified repairable estimates in seconds without the need for human intervention.
In the organization category, CCC's NXT Lab innovation hub was recognized as a center of excellence for its work across internal teams, including data science, R&D, engineering, support and design, to develop and test next-generation AI solutions for the industry.
“CCC is excited to be recognized for our work applying advanced AI to elevate, personalize and simplify customer and consumer experiences across the P&C insurance economy,” said John Goodson, chief technology officer for CCC. “More than a billion days elapse in the U.S. every year between when auto claims are opened and when they are resolved. This is stressful to vehicle owners and costly to auto insurers. Our work with AI and other advanced technologies through our NXT Lab accelerates our ability to bring new innovations to market and helps our customers bring better experiences and faster claims resolution to millions of drivers.”
CCC Estimate-STP is in market with 15 insurers representing 50% of U.S. auto claims volume, including seven of the top 10 carriers based on direct written premiums. The CCC NXT Lab innovation hub was expanded and relaunched in 2022 as part of the company's new corporate headquarters and technology design center.
“We are so proud to name CCC as a winner in our inaugural Artificial Intelligence Excellence Awards program,” said Maria Jimenez, chief nominations officer for Business Intelligence Group. “It was clear to our judges that CCC was using AI to improve the lives of its customers and employees. Congratulations to the entire team.”
To learn more about CCC's AI solutions, visit cccis.com/our-technology/ai/.
Source: CCC Intelligent Solutions, Inc.
