Cognizant Claims: CCC sees 19 percent revenue growth, driven by AI deployment

Chicago, Illinois ⁠— CCC Intelligent Solutions announced its fourth quarter and fiscal year financial results on Tuesday, sharing the tech provider saw 19 percent adjusted revenue growth in 2021, a feat it says was driven by the increased deploying of artificial intelligence (AI) in insurance claims. The company said it processed nine million unique claims […]

The Gecko Gets Thinkin’: GEICO to use Tractable AI in estimates

Maryland, U.S. ⁠— Geico⁠—the no. 2 auto insurer in the United States⁠—will use Tractable AI Review photo estimating to re-check estimates, according to a press release from Tractable. “GEICO customers know us for our speed of service and value,” GEICO CEO Todd Combs said in a statement Wednesday. “Tractable’s artificial intelligence solution delivers both, helping […]

Will AI and Virtual Claims Build a Bridge or Widen the Chasm?

A thought leadership article by Sean Carey, President, SCG Management Consulting Anyone that has spent time in and around the auto claims ecosystem recently can’t help but notice that digital and virtual auto claims processing is in vogue, so much so that Insurtech companies and insurers are releasing related new products and services into the […]

Pace of Progress: AI adoption grows in 2020 for American auto insurers

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 […]