CCC Intelligent Solutions Acquires EvolutionIQ for $730 Million
laims professionals, combines industrial AI with a scalable SaaS business model. This acquisition allows CCC to enhance its existing auto casualty product suite and accelerate its strategy of leveraging real-world AI to solve complexity across the broader insurance ecosystem.
With EvolutionIQ’s Next Best Action capabilities and CCC’s connected network and event-based architecture, insurers can expect a transformational leap forward in integrating AI into their existing workflows. This is a critical step in unlocking the power of AI for their business and improving the experience for their claimants.
EvolutionIQ has been making waves in the industry, expanding its MedHub offering to cover all life, health, accident, and casualty lines of insurance. This medical summarization solution provides claims professionals with tactical insights to turn medical data into a competitive advantage.
Partnering with organizations like the Council of Australian Life Insurers (CALI) and Guidewire Software, EvolutionIQ continues to innovate and collaborate to create a connected ecosystem of industry experts. Their AI-powered Claims Guidance platform, integrated with Guidewire Software’s suite of software and data services, aims to help insurers transform their claims processes to better support claimants’ recovery and return to work, while reducing claim losses and expenses.
The acquisition of EvolutionIQ by CCC Intelligent Solutions for $730 million solidifies CCC’s commitment to delivering cutting-edge solutions for the insurance industry. By combining forces, CCC and EvolutionIQ are poised to reshape the landscape of insurance claims management and revolutionize the industry with the power of AI.
Overall, this acquisition marks a significant development in the world of insurance and technology, setting the stage for a new era of innovation and efficiency in resolving insurance claims.
