CCC Intelligent Solutions (CCC), an SaaS platform for P&C insurance, has acquired InsurTech Safekeep.
Safekeep’s enterprise platform leverages AI to speed and improve subrogation management across auto, property, workers’ compensation, and other insurance lines of business.
The acquisition of Safekeep extends CCC’s AI-powered claims software to include subrogation management, and now part of CCC’s completely digital, AI-enabled, end-to-end claims solutions.
Safekeep solutions are available to any insurer, including the more than 300 leading carriers already active on the CCC Cloud. Subrogation protects consumers and insurers from paying for losses where the insured is deemed not at fault or only partially at fault.
The company’s solution works by applying a combination of machine-learning, natural language processing, rules, and predictive models to score and prioritize claims for more efficient subrogation management. The Safekeep technology also digitally packages documents and automates workflows, removing manual touch points to accelerate and improve subrogation outcomes.
Marc Fredman, chief strategy officer at CCC, said, “Subrogation is a largely manual, time-intensive process impacting every insurer across every line of business. Our insurance customers have been asking for an intelligent way to automate the subrogation process, which accounts for billions of dollars in administrative costs annually.
“Jeff and the Safekeep team have built a comprehensive platform, making it a highly celebrated InsurTech. The team and technology are a wonderful complement to the work we’re doing at CCC to bring straight-through processing across every facet of the claims experience.”
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