CCC Intelligent Solutions Acquires EvolutionIQ, Expands AI Capabilities

By Bobby Samwell • Tuesday, January 07 15:24 • Permanent Link

CCC Intelligent Solutions Inc. has announced the completion of its acquisition of EvolutionIQ, Inc., a leading platform for AI-powered guidance for disability and injury claims management. The acquisition was made using a combination of cash and CCC Intelligent Solutions Holdings Inc. common stock.

The acquisition is expected to expand CCC's market reach into strategic adjacencies such as disability and workers' compensation, while strengthening its industry-leading AI-powered SaaS platform. This addition includes transformative AI capabilities, including medical summarization and next best action, which are aimed at revolutionizing how insurance claims are resolved.

In addition to the acquisition, CCC's board of directors authorized a share repurchase program of up to $300 million in December 2024.

CCC Intelligent Solutions Inc. (CCC) is a subsidiary of CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS) and is a leading cloud platform provider for the multi-trillion-dollar P&C insurance economy. The company's intelligent experience (IX) cloud platform, powered by proven AI and an innovative event-based architecture, connects more than 35,000 businesses to power customized applications and platforms for optimal outcomes and personalized experiences. Following these announcements, the company's shares moved -1.4%, and are now trading at a price of $11.26. If you want to know more, read the company's complete 8-K report here.

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