Chicago, Illinois — American automotive technology company CCC Information Services is reporting a more than 50 percent year-over-year increase in claims processed using artificial intelligence (AI) and deep learning.
The company also reports that more than 5 million unique claims have been processed using a CCC deep learning AI solution, and the number of claims using two or more of its AI applications has more than doubled year-over-year.
Today, more than 75 U.S. auto insurers are actively applying CCC’s advanced AI to power claims decisions and improve policyholder experiences, said the company via online press release.
The company says the sharp growth is spurred by a combination of increased adoption, expanded applications and the more than 300-strong library of AI models supporting personalized claims decisions.
“Artificial intelligence is contributing to safer, more accurate and accelerated decisions across the APD claims lifecycle,” said Barret Callaghan, executive vice president, markets and customer success at CCC. “Policyholders are benefiting from expedited processing. Lienholders can now be notified of a total loss days earlier. And AI is helping to ensure repair facilities big and small receive a greater percentage of repairable vehicles, eliminating noise and increasing productivity. The benefits of increased AI adoption span the network.”