CHICAGO–(BUSINESS WIRE)–CCC Intelligent Solutions, a leading cloud platform provider powering the P&C insurance economy and a subsidiary of CCC Intelligent Solutions Holdings Inc., announced today that it has completed the previously announced acquisition of EvolutionIQ, the leading platform for AI-powered guidance for disability and injury claims management.
“We are excited to officially welcome the EvolutionIQ team to the CCC family,” said Githesh Ramamurthy, chairman and chief executive officer of CCC. “The acquisition expands CCC’s market reach into strategic adjacencies – disability and workers’ compensation – while strengthening our industry-leading AI-powered SaaS platform through the addition of transformative AI capabilities, including Medical Summarization and Next Best Action, that will work to revolutionize how insurance claims are resolved.”
As previously announced, CCC acquired EvolutionIQ using a combination of cash and CCCS common stock. Together with the announcement of the EvolutionIQ acquisition on December 20, 2024, it was announced that CCC’s board of directors authorized a share repurchase program of up to $300 million.
About CCC
CCC Intelligent Solutions Inc. (CCC), a subsidiary of CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS), is a leading cloud platform provider for the multi-trillion-dollar P&C insurance economy, creating intelligent experiences for insurers, repairers, automakers, part suppliers, and more. The CCC 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 that just work. Through purposeful innovation and the strength of its connections, CCC technologies empower the people and industry relied upon to keep lives moving forward when it matters most. Learn more about CCC at www.cccis.com.
