Collision repair software-as-a-service provider CCC Intelligent Solutions on Oct. 30 told stock-watchers it had split a senior executive position into two separate roles, chief product officer (CPO) and chief technology officer (CTO), and is “actively recruiting to fill both positions,” according to Chairman and CEO Githesh Ramamurthy. He said the change will bring greater focus to its work, which includes quarterly double-digit revenue growth and more adoption of its artificial intelligence products.
The news came during CCC’s third-quarter conference call with analysts and others. CCC’s revenue has grown 11% to 12% each quarter this year, and it expects full-year 2025 revenue to track at that rate. Ramamurthy said AI services, such as Mobile Jumpstart, Build Sheets, First Look, and Intelligent Reinspection, all of which have been in regular collision repair use alongside CCC ONE for about two years now, have added users and streamlined repair work.
Ramamurthy said a new CPO and CTO “will drive stronger execution, enhance client satisfaction, and elevate the consumer experience,” and more AI is coming: CCC is “integrating advanced AI features that enhance our ability to deliver differentiated value at scale.”
Former EVP John Goodson, who held the combined CPO/CTO role, resigned in September, effective Oct. 10, according to a regulatory filing. He’d been with the company since 2020, before it went public in 2021 in a blank-check SPAC merger, a 2021 press release on his promotion to CTO said. CCC’s 2024 Annual Report noted his three decades of experience in tech work. In September, Goodson sold $1.5 million in CCC stock, reports said.
Three insurance conclusions from C-suite meet and greet
Ramamurthy said he and CCC’s new president, Tim Welsh, who was named to that post in February, have been meeting with clients over the past six months, or since about the time the company told analysts of its “outcome-driven bundling to accelerate adoption of newer innovations.” The pair learned three key lessons from these conversations, Ramamurthy said.
First, “our insurance customers are increasingly focused on … affordability.” Ramamurthy cited data showing one-fourth of Americans have lowered or dropped coverage to save money, and one-third would temporarily drop it to buy necessities.
Second, clients want more “technology-driven transformation. AI creates new possibilities for handling claims. Insurers, repair facilities, OEMs, and other participants in the ecosystem are looking to us for strategic guidance on how to leverage AI.”
Third, he said, “clients want us to do more with them.” Hence the bundling of products for sale, followed by Ramamurthy’s regular quarterly calls referencing new-client “top 10” or “top 20” insurers signing with CCC.
Four ways CCC is using AI with collision repair providers
Repair shops are increasingly adopting the company’s AI offerings.
In parts selection, Ramamurthy said Build Sheets adoption grew 10% the past three months, to north of “5,500 repair facilities, up from about 5,000 last quarter.” In September, AI estimator Mobile Jumpstart “surpassed an annual run rate of over 1 million AI-based repair estimates.” The technology cuts estimate prep from 30 minutes to less than two, he said. Mark Fincher, CCC vice president, echoed this to Autobody News in August.
Meanwhile, “CCC’s routing AI solution First Look … prevent[s] shops from losing valuable time and space on vehicles” destined for total loss, while “workflow AI solution Intelligent Reinspection … reviews supplement requests” in two-thirds of cases, automatically approving 40% of them.
Ramamurthy said CCC products affect 50,000 people a day who are involved in collisions.
“Since going public in 2021, we’ve doubled the annual dollar value of claims processed in our system” to more than $200 billion, he said.
Since the company’s roughly $7 billion IPO, revenue has grown from $600 million in 2020 to a projected $1 billion this year. Original private equity investor Advent International has been selling shares since mid-2024. A Nov. 5 CCC regulatory filing said Advent would sell about 37.3 million CCC shares for about $291 million, exiting its position.
Paul Hughes