CCC Intelligent Solutions Inc. announced March 22 that Indiana Farmers Insurance is the latest auto insurer to leverage its industry-first AI-powered CCC® Estimate–STP solution.
Estimate-STP uses advanced AI and insurer-driven rules to automatically initiate and populate detailed and actionable estimates in seconds. In market with 15 insurers, including seven of the top 10 carriers based on direct written premium, representing 50% of U.S. auto claims volume, CCC Estimate–STP offers line level estimates from photos without the need for human intervention.
"Indiana Farmers Insurance is committed to providing our members with an exceptional claims experience," said Wes Sprinkle, president and CEO, Indiana Farmers Insurance. "By using CCC Estimate–STP we can reduce the time our members are without their vehicles. With a combination of AI and our own business rules, CCC helps us automate the repair estimate and frees up our claims representatives to focus on our relationship with members."
CCC Estimate–STP uses a powerful combination of technologies, data and partner connections to digitally generate comprehensive estimates for qualified repairable claims. The outcome is actionable estimates with line-level detail, including parts, labor operations and hours. CCC Estimate–STP is configurable by insurer, including claim eligibility thresholds and desired policyholder communication experiences.
“Indiana Farmers Insurance epitomizes the customer-centricity and spirit of innovation that’s pulsing across the industry today,” said Mike Silva, chief commercial and customer success officer, CCC. “Technology has an important role to play in the P&C insurance economy as participants face mounting pressures from macroeconomic trends and consumers, who have high expectations for service and personalization. The CCC cloud and our configurable AI-powered solutions are designed for speed and scale, helping businesses of any size quickly ramp on the latest technologies to meet their business objectives.”
Learn more about CCC Estimate–STP.
Source: CCC Intelligent Solutions
