CCC Intelligent Solutions Named Winner of 2024 AI Breakthrough Award
Pioneering AI Leader for the P&C Insurance Economy Recognized for Excellence in Computer Vision
CCC Intelligent Solutions Inc. (CCC), a leading cloud platform powering the P&C insurance economy, announces today that it has been recognized with a 2024 AI Breakthrough Award for "Best Overall Computer Vision Solution." In its seventh year, the annual awards program conducted by Tech Breakthrough recognizes the world's most innovative companies, technologies and products in the AI industry today.
"CCC is honored to be acknowledged for our work in AI, specifically for computer vision. Our AI-powered solutions analyze and assess vehicle damage photos for any make and model, helping speed up the automotive claims and repair process," said John Goodson, chief product and technology officer at CCC. "This award underscores our commitment to helping our customers deliver intelligent experiences and leveraging advanced AI to tackle industry challenges like labor shortages and increasing vehicle complexity."
CCC is a leader in AI-powered solutions for the auto insurance and repair industry. Its broad solution offering applies more than 300 AI models that leverage computer vision, natural language understanding and deep learning, to improve customer interactions, streamline operations, and digitize assessments across estimating, casualty and subrogation.
"The auto insurance and collision repair industries are facing challenges that include workforce shortages, inflation, supply chain issues, increasing vehicle complexity and rising consumer expectations. These factors have led to a significant increase in repairable, total loss, and casualty claim cycle times and costs," said Steve Johansson, managing director, AI Breakthrough. "CCC is tackling these challenges head-on. We're proud to award them with ‘Best Overall Computer Vision Solution.' With their proven AI and technology, CCC is driving the industry's next evolution by helping companies make earlier decisions, streamline processes and support teams facing labor shortages."
CCC recently introduced the CCC Intelligent Experience (IX) Cloud™ platform that will bring intelligent experiences to life through a new event-driven architecture that overlays onto CCC's existing cloud applications, customer workflows, and customer and partner systems. This microservices-based approach will proactively provide additional insights about business events, infuse the latest AI into workflows and cascade innovation across customer operations.
CCC introduced its first AI solution for vehicle damage assessment in 2013 and has since developed a powerful offering of AI-powered solutions which have been adopted by more than 100 auto insurance companies and thousands of collision repair operators.
Visit cccis.com/ai to learn more about the company's AI-enabled solutions.
About CCC
CCC Intelligent Solutions Inc. (CCC), a subsidiary of CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS), is a leading cloud platform for the multi-trillion-dollar P&C insurance economy, creating intelligent experiences for insurers, repairers, automakers, part suppliers, and more. The CCC Intelligent Experience (IX) Cloud™ platform, powered by proven AI and an innovative event-based architecture, connects more than 35,000 businesses to power customized applications and platforms for optimal outcomes and personalized experiences that just work. Through purposeful innovation and the strength of its connections, CCC technologies empower the people and industry relied upon to keep lives moving forward when it matters most. Learn more about CCC at www.cccis.com.
About AI Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the AI Breakthrough Awards program is devoted to honoring excellence in Artificial Intelligence technologies, services, companies and products. The AI Breakthrough Awards provide public recognition for the achievements of AI companies and products in categories including Generative AI, Machine Learning, AI Platforms, Robotics, Business Intelligence, AI Hardware, Computer Vision and more. For more information visit AIBreakthroughAwards.com.
Tech Breakthrough LLC does not endorse any vendor, product or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.
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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