CCC Processes Record Number of Total Loss Transactions for Dec.
13 January 1999
CCC Processes Record Number of Total Loss Transactions for DecemberClaims Processed in December Establishes New Industry Mark CHICAGO, Jan. 13 -- CCC Information Services Inc. , the leading provider of solutions to the automotive claims industry, today announced that the company's December 1998 total loss business has established a new company record for claims transactions processed for the month of December. The company exceeded the previous record for December established in 1997. CCC pioneered a methodology for establishing vehicle valuations in 1980 based on surveys of local market prices performed at dealership used car lots. The company regularly surveys used vehicle prices at over 4,400 locations throughout the U.S. and Canada and for more than 17 years has been the automotive claims industry leader in electronic vehicle valuation services used to settle total loss claims. The computerized valuation process bases vehicle values on a database of over 450,000 current vehicle price records. CCC has valued more than 26 million vehicles since 1980. "We are delighted with December results, which reflect our customers' continued confidence in our vehicle valuation services," said Rich Radi, Executive Vice President of CCC's Insurance Division. "The fact that we were able to improve market penetration and grow the business in a month that was characterized by unseasonably mild weather demonstrates CCC's continued market leadership in total loss valuation services." CCC produces accurate, market-specific values using a unique computerized valuation process that leverages the industry's most extensive database of inspected vehicle inventory. The valuations are supported by the industry's largest field service operation with representatives that regularly service over 13,000 claims offices. Further support is provided at the company's state-of-the-art telephone servicing facility in Sioux Falls, S.D. CCC Information Services Inc., headquartered in Chicago, Ill., is the automotive claims industry's leading supplier of advanced software and communications systems. Its value-added, technology-based products and services increase efficiency and facilitate communication among more than 13,500 collision repair facilities, 4,400 dealerships, 350 insurance companies and a range of business partners. For more information about CCC Information Services, contact Peter Duckler at HLB Communications at 312-649-0371.