CCC Information Services Inc., provider of software and information technology to the U.S. auto physical damage industry, was named a sample vendor for its claims analytics capabilities in two Hype Cycle reports published by Gartner, an information technology research and advisory company.
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“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.
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.”
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 Information Services Inc. “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 visit ccc.cccis.com to download a complimentary copy of Analytics and Big Data, an industry perspective by CCC Lead Analyst Susanna Gotsch.