What key digital trends are
most impacting insurance
claims departments and how?
Claims organizations are experiencing
seismic shifts in their businesses.
The three broad trends we see most
impacting claims departments are
changes in consumer behavior and
preferences, driven largely by the
proliferation of personal technology;
the Internet of Things (Io T); and the
explosion of data.
The rapid adoption of mobile
technologies is dramatically increasing
consumer expectations for self-service.
If I can deposit a check through my
smartphone, why can’t I handle my
entire insurance claim the same way?
Enabling this requires new capabilities,
but also provides the opportunity for
significant efficiency gains.
Io T is another transformational
technology in that it provides insurers
real-time data on the assets they are
insuring. This means that, for the first
time, insurers can know the instant a
claimable event takes place and then
resolve that claim in minutes or seconds
instead of days.
Finally, you have the explosion of new
data sources such as connected car
and social media, paired with the rise
of new tools like computer vision and
artificial intelligence (AI). Insurance
companies are now dealing with the
challenge of figuring out how to work
with all this new data.
How is your business model
changing to meet the needs of
a new generation of workers
while continuing to serve the
needs of your clients?
One of the things we see across the
board is that cars are becoming
extremely complex, with advancements
like new materials, lane departure
systems and the like. This is raising
the bar for technical knowledge to
handle accidents – and both insurers
and repairers need to keep up. At
the same time, a lot of the most
experienced people are retiring from
the industry, so we have to outfit a new
generation of workers with technical
knowledge at the precise moment that
the underlying technology is taking a
major leap. That’s why we’re embedding
our solutions with AI and predictive
analytics to help these individuals keep
pace with the times.
What do you see as the greatest
challenge the claims industry
will face in the next five
years and how is the industry
addressing this issue?
Our view is that the root challenge
facing the claims industry is rising
complexity because it extends in so
many different ways. For example,
complexity in vehicles is driving
significant increases in severity. That
complexity also raises questions
about how to handle a repair – what
equipment or training you need
to repair that vehicle correctly, for
There is also rising complexity in the
technology and data infrastructure with
which claims organizations need to
compete. An insurer may want to take
advantage of mobile, connected car, AI
and other new technologies, but being
able to do that quickly, reliably and at
scale requires a completely different
architecture and way of working than
most insurers are ready for.
Now, and over the next five years, we
see the industry embracing platforms
that structure this complexity in all of
its forms so that insurers can rapidly
innovate and not get left behind.
CCC and its affiliates bring together
what matters most – connections into
the industry’s leading automotive
claims network, superior productivity
through innovative cloud, mobile,
hyperscale technologies and apps, and
insights to make the best decisions.
Founded in 1980, CCC is the nation’s
leading provider of advanced
software, workflow tools, and enabling
technologies to automotive collision
repairers, property/casualty insurance
carriers, OE manufacturers, and part
suppliers. Its client base includes more
than 350 insurance companies and
more than 22,000 repair facilities.
You can find out more about CCC by
Senior Vice President, Corporate
Strategy and Development