Home Finance CCC Unveils the First AI Estimating Tool for Car Collisions For Insurers

CCC Unveils the First AI Estimating Tool for Car Collisions For Insurers

Last Modified Date - May 27, 2020

Recently, CCC Information Services Inc. rolled out the first ever in-production artificial intelligence (AI) solution intended for car collision estimates.

CCC Smart Estimate uses CCC’s estimating AI photo and logic analytics abilities in pre-populating an estimate, primarily with recommendations for human estimators to advance, edit and review.

Through this process, human estimators and Smart Estimate AI are able to learn from one another, developing fast and smarter auto physical damage estimates over a period of time.

Smart Estimate is the newest in a selection of telematics and AI-driven products that all deliver the first-of-its-kind end-to-end digital claims experience targeting insurance companies and their policyholders.

CCC prides itself on being a top software as a service (SaaS) provider to the collision repair, insurance, and automotive industries.

Smart Estimate integrates CCC’s estimating AI and logic to car collision photos in a bid to forecast repair requirements and recommend estimate lines, including the parts that are likely needed in completing the repair.

Smart Estimate can easily be implemented by insurance clients of CCC ONE® Platform services.

What’s more, the guided nature of the particular solution allows new estimators to not only be trained but also productive.

“Many other industries are already benefitting from AI, and now it’s the insurance industry’s turn,” said Jason Verlen, SVP, Product Management for CCC. “Vehicle complexity and rising repair costs along with increasing consumer expectations for service are necessitating real change.

CCC’s Smart Claims suite, culminating with Smart Estimate, flips the switch on a 100-year old process, presenting an opportunity for insurers to achieve operational excellence while delivering a modern, differentiated claims experience to policyholders.”

The Smart Suite

Smart Estimate helps in capping the only artificial intelligence (AI)-guided, end-to-end claims experience:

For telematics powered cars linked to the CCC ONE™ Platform, vehicle crashes can be identified instantly, alerting insurance companies in real-time when their clients have been involved in an accident, ending a longstanding reactive process.
Insurance companies can digitally interact with their policyholders via video chat and convey a link for a mobile application to assist drivers in capturing and submitting accident information instantly and quickly through CCC’s Quick Estimate solution.
CC Smart Total Loss™ uses one photo in helping an insurer in determining in real-time and with an improved level of accuracy whether a car is a total loss or repairable
The Damage Detection solution utilizes artificial intelligence (AI) in detecting vehicle damage automatically as well as visually showing the damage through CCC’s distinctive heat maps.
Virtual Inspection helps in making claim assets such as heat maps and AI photos instantly available and easy to use.
CCC Smart Audit offers more efficiencies through applying AI and photo analytics to not only flag-line outliers but also intelligently route the necessary claims, primarily for inspection.
Smart Estimate integrates AI and photos with estimating logic in a bid to pre-populate recommendations in a baseline estimate.

Verlen added, “Our system processes 100K auto claims a day and the solutions in our Smart Claims suite can significantly reduce the time and cost associated with managing these claims.

By leveraging the technology most of us carry in our pocket, insurers can now interact with policyholders digitally, offering a better, self-directed and personalized claims experience.”