The acquisition of Safekeep, a platform digitizing subrogation across P&C insurance lines of business, by CC Intelligent Solutions will help CCC to advance its vision for straight-through processing across the claims lifecycle. In a company statement, CCC states that Safekeep “leverages AI to speed and improve subrogation management across auto, property, workers’ comp and other insurance lines of business. The acquisition of Safekeep is a natural next step in CCC’s vision to deliver end-to-end straight-through claims processing.”
Safekeep’s acquisition will extend CC’s AI-powered claims software with subrogation management, a critical function, the company statement states, in achieving claims resolution. Safekeep is available to all auto insurance carriers.
“Subrogation is a largely manual, time-intensive process impacting every insurer across every line of business,” Marc Fredman, CCC’s chief strategy officer, says in the company statement. “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. [Safekeep founder and CEO] Jeff [To] 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.”