CCC Intelligent Solutions Holdings Inc., a leading SaaS platform for the P&C insurance economy, announced its financial results for the three months ended March 31, 2022.
“CCC delivered strong first quarter results, highlighted by 18% revenue growth and 33% adjusted EBITDA growth,” said Githesh Ramamurthy, chairman and CEO of CCC. “Our results demonstrate our ability to solve the most pressing operational problems facing our customers’ businesses.
“The P&C insurance industry is still in the early stages of digitization. Our significant and ongoing investment in innovation positions CCC to continue to drive durable growth in the near and long-term.”
First quarter business highlights included:
- Strong momentum across customer groups in the P&C insurance ecosystem. With CCC’s insurance clients, they’re seeing good adoption by insurers of their total loss care portfolio, where CCC now has 21 carriers either onboarded or in pilot. CCC also added two new carriers to their casualty platform in the quarter. Within repair facilities, CCC is seeing strong growth in repair facility locations, which now exceed 27,000, as well as higher solution adoption per location driven by a 21% increase in the number of facilities adopting four or more solutions from CCC compared to 2020.
- As part of their commitment to making it easier for clients to achieve quality repairs and operate at the pace of innovation, CCC recently leveraged the open ecosystem of the CCC Cloud to further expand the CCC Diagnostics network with the addition of asTech, a Repairify company and a global leader in diagnostic, calibration and programming solutions. The integration makes it easier for repair facilities to capture and document scan information in CCC ONE workfiles. Digitally integrated systems make it easier for repairers to access, capture and document information needed to achieve complete repairs. CCC Diagnostics has now been rolled out to over 10% of their repair facility clients.
For more information on CCC, visit cccis.com.
