Ccc Information Services (NASDAQ:CCCG)
Historical Stock Chart
From Jun 2019 to Jun 2024
As the trend of customizing mobile electronics in
vehicles grows (i.e. - speakers, amplifiers, video screens, navigation
systems), so does the number of claims. In 2004, an estimated 400,000
claims involving mobile electronics were filed. To help expedite
claims such as these, CCC Information Services Inc., signed an
agreement with Salt Lake City-based First Choice Solutions (FCS), a
provider of mobile electronics claims handling technology and services
to the insurance industry. The agreement with FCS is the second such
vendor agreement for CCC within the mobile electronic claims
marketplace. CCC, a subsidiary of CCC Information Services Group Inc.
(Nasdaq:CCCG), is a leading supplier of information technology
software and services to the auto-claims and collision-repair
industries.
Under the agreement, CCC's customers will send mobile electronic
system claims to FCS via CCC Autoverse(R) Claim Management - CCC's
convenient, centralized web solution designed to dispatch, receive,
review and conclude the process of a claim. With CCC Autoverse Claim
Management, users can access an electronic claim folder giving them a
common area in which they can enter, retrieve and augment pertinent
information relating to the claim.
Following receipt of the claim, FCS contacts the insured to verify
the correct make and model of the mobile electronic equipment through
its proprietary WebCARS(TM) estimating technology. Developed and
utilized by FCS for more than 13 years, WebCars tracks each electronic
component model by its features and matches it to a newer model of
equal features to determine a replacement. FCS also has access to many
mobile electronics manufacturers. Once the replacement equipment is
determined, FCS provides convenient installation options through a
nationwide network of more than 3,000 installation facilities.
"The agreement between CCC and FCS is logical for us as a
company," said FCS' CEO, Jacqueline Soechtig. "Both companies believe
in providing comprehensive data to help their customers'
decision-making processes."
CCC President of Service Operations Mary Jo Prigge, added: "It is
of primary importance that CCC gives its customers comprehensive data
across the spectrum of the claims process. Our working with FCS
strikes at the core of that principle by expanding our footprint in
the growing marketplace of mobile electronics replacement."
About FCS
First Choice Solutions is a leading provider of insurance claims
handling technology and services for property and casualty insurance
claims involving any audio or video equipment damaged or stolen in a
vehicle. Founded in 1987, First Choice Solutions maintains its
national headquarters in Salt Lake City, Utah. It has over 3,000
mobile electronics retail shops that are part of its national repair
network. First Choice Solutions can be contacted at 801-467-8686 or at
www.firstchoiceusa.com.
About CCC
Now in its 26th year, CCC Information Services Inc., headquartered
in Chicago, is a leading supplier of advanced software, communications
systems, Internet and wireless-enabled technology solutions to the
automotive-claims and collision-repair industries. Its
technology-based products and services optimize efficiency throughout
the entire claims management supply chain and facilitate communication
among approximately 21,000 collision-repair facilities, 350 insurance
companies, and a range of industry participants. For more information
about CCC Information Services Inc., visit our web site at
www.cccis.com or contact Michelle Hellyar of CCC at 312-229-2830 or
John Harris of CCC at 312-229-2693.