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Friday, 07 January 2022 09:50

Auto Insurers Embrace AI at Scale in 2021 

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CCC Intelligent Solutions, the SaaS platform powering the P&C insurance economy, on Jan. 7 provided an update to its 2020 insurer AI adoption report, which shows significant growth in AI adoption in auto claims across key metrics.

The company reports a 50% year-over-year increase in the application of advanced AI for claims processing. The company also reports more than 9 million unique claims have been processed using a CCC deep learning AI solution, growing more than 80% in 2021, and the number of claims using four or more of its AI applications grew 6X year-over-year. 

 

CCC also announced insurer adoption of its industry-first AI-powered touchless estimating solution, CCC® Estimate–STP, has doubled to eight national insurers since launching the solution in October. Today, more than 95 U.S. auto insurers are actively using CCC’s AI-powered capabilities. 
 
“The data paints a clear picture of an industry embracing innovation and insurers activating AI at scale,” said Shivani Govil, chief product officer, CCC. “As our industry becomes increasingly complex and consumer demand for personalized experiences grows, AI has become essential. Discrete applications of AI are giving way to broader use cases and more intelligent automation. The sharp increases in the use of multiple AI applications and the rapid adoption towards fully touchless estimating are evidence of the industry’s digital transformation, which CCC is proud to lead, supporting our customer’s ability to redefine the insurance experience.” 

 

The sharp growth in AI-powered claims is driven by...


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