CCC Crash Course 2022 Trends Report Reveals Accelerated Innovation in P&C Insurance Economy Amid Disruption
March 15 2022 - 7:00AM
Business Wire
Labor shortages, supply chain challenges,
climate change, and COVID uncertainty reshaping insurance economy
trends as showcased in 27th annual edition of industry’s preeminent
report
CCC Intelligent Solutions Inc. (CCC), a leading SaaS platform
for the P&C insurance economy, announces today it has released
CCC Crash Course 2022, a data-driven report covering the business,
consumer, and technology trends shaping the automotive, claims,
repair and collision industries. The report offers insights on
today’s economic, social and technology trends impacting and
reshaping the P&C insurance economy, including shifts in
driving behavior, advances in vehicle technology and the record
pace of growth in digitization across the insurance economy.
CCC Crash Course 2022 marks the 27th year for the
industry-leading report, which this year explores the future of
digital journeys in the wake of disruption: supply versus demand,
labor shortages, inflation, increasing vehicle technology and more
complex repairs. The extensive report draws insights based on
decades of experience from solutions offered by CCC and its
affiliates, Including 260-million claims-related transactions,
50-billion miles of driving data, and millions of auto bodily
injury and personal injury protection (PIP) /medical payments
(MedPay) casualty claims.
“After tracking key trends for so many years, we can confidently
say the P&C insurance and automotive industry landscape has
been forever changed,” said Susanna Gotsch, senior director and
industry analyst, CCC. “The disruption experienced over the last
two years has accelerated the pace of innovation driven by
everything from supply chain and labor to climate change. There is
more urgency than ever for the industry to adapt and evolve with an
increased focus on the advancement of digital technologies, user
experiences, and connected networks foundational to change and
growth.”
Gotsch continued, “Today’s customer expects a business to
provide an always-on user experience. This coupled with managing
growing complexities presents both challenges and opportunities for
the P&C economy.”
Key topics covered in Crash Course 2022 include:
- Supply versus demand imbalances and the impact on U.S.
inflation.
- Labor shortages and the role its playing in driving up wages
and altering experiences across nearly all industries.
- The operational future of automakers, insurers, repairers, and
other providers.
- The role of vehicle technology (ADAS, EVs) and complexity in
increasing repair costs.
- Technologies such as AI, mobile, cloud, and the Internet of
Things, and their role in user experiences.
- Changes in driving behaviors and the impact to frequency and
severity of auto accidents and auto casualty claims.
In addition to macro trends and topics, CCC Crash Course 2022
also includes industry-level detail on claims frequency and
severity, parts costs and utilization, total loss trends and
more.
Download the full report here:
https://cccis.com/crash-course-2022/.
About CCC CCC Intelligent Solutions Inc. (CCC), a
subsidiary of CCC Intelligent Solutions Holdings Inc. (NYSE: CCCS),
is a leading SaaS platform for the multi-trillion-dollar P&C
insurance economy powering operations for insurers, repairers,
automakers, part suppliers, lenders, and more. CCC cloud technology
connects more than 30,000 businesses digitizing mission-critical
workflows, commerce, and customer experiences. A trusted leader in
AI, IoT, customer experience, network and workflow management, CCC
delivers innovations that keep people’s lives moving forward when
it matters most. Learn more about CCC at www.cccis.com.
Special Note Regarding Forward-Looking Statements This
press release contains forward-looking statements that are based on
beliefs and assumptions and on information currently available. In
some cases, you can identify forward-looking statements by the
following words: “may,” “will,” “could,” “would,” “should,”
“expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,”
“predict,” “project,” “potential,” “continue,” “ongoing” or the
negative of these terms or other comparable terminology, although
not all forward-looking statements contain these words. These
statements involve risks, uncertainties and other factors that may
cause actual results, levels of activity, performance or
achievements to be materially different from the information
expressed or implied by these forward-looking statements.
Forward-looking statements in this press release include, but are
not limited to, statements regarding future use and performance of
CCC’s solutions. Such differences may be material. We cannot assure
you that the forward-looking statements in this press release will
prove to be accurate. These forward-looking statements are subject
to a number of risks and uncertainties, including, among others,
competition, including technological advances and new products
marketed by competitors; changes to applicable laws and regulations
and other risks and uncertainties, including those included under
the header “Risk Factors” in the most recently filed Form 10-K by
CCC with the Securities and Exchange Commission (“SEC”) on March 1,
2022, which can be obtained, without charge, at the SEC’s website
(www.sec.gov). The forward-looking statements in this press release
represent our views as of the date of this press release. We
anticipate that subsequent events and developments will cause our
views to change. However, while we may elect to update these
forward-looking statements at some point in the future, we have no
current intention of doing so except to the extent required by
applicable law. You should, therefore, not rely on these
forward-looking statements as representing our views as of any date
subsequent to the date of this press release.
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Michelle Hellyar mhellyar@cccis.com | 773.791.3675
CCC Intelligent Solutions (NYSE:CCCS)
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