On November 17, 2017, CCC Information Services China and Ping An Property Insurance Co., Ltd. of China officially entered into in-depth cooperation in insurance technology. Both parties will give full play to their respective advantages to drive the innovation and development of the insurance industry with innovative technologies. We will work together to carry out extensive cooperation in insurance technology fields such as intelligent auto insurance claims management, vehicle basic data, automotive aftermarket DRP ecosystem construction, etc.
Insurtech drives industry change
As the leading insurance technology company in the United States, CCCIS has the ability to integrate and build resources across the industry and ecosystem. Since its establishment in 1980, CCCIS has accumulated outstanding capabilities in the fields of auto insurance, auto aftermarket, big data mining, cloud computing, artificial intelligence and machine learning by virtue of cloud platform, mobile terminal solution and super-scale technology and application. So far, the system has accumulated accumulated precipitation of more than 30 years, tens of billions of claims data items, hundreds of billions of dollars of claims, tens of billions of pictures, has the insight and decision-making power based on massive data; Establish and maintain the largest information network in the American aftermarket, connecting a large number of insurance enterprises, auto repair enterprises, dealers, auto data and parts suppliers in the United States.
Since 2010, CCCIS has been deeply engaged in China's insurance market, helping many of the top 10 domestic large insurance companies to optimize their auto insurance claims management, risk control rules and business intelligence analysis platforms with localized products and services.
Refined control and intelligent claim settlement
CCCIS will provide Ping An Property Insurance with APD claims management system and its unique risk rule engine, which can conduct real-time quantitative supervision on risks through pre-mandatory control, in-process risk control and post-report audit. And carry out detailed analysis and risk screening from three directions and seven dimensions; At the same time, combined with the analysis and management ability of massive claims information for Ping An property Insurance service.
Precise, granular and coverage of super - strong vehicle basic database
The vehicle basic database developed by CCCIS for the insurance and aftermarket is based on hundreds of people and completed in three years. It not only exceeds the market standard in terms of the number of parts per vehicle, the size of the model and the model of the part, but also innovatively introduces the first method of refining attributes processing around the parts in China, so as to make the basic data deeply coupled with the control system. To maximize the control effect; Compared with the industry, the basic data of CCCIS has three advantages: the highest integrity of the average density of accessories, the highest matching accuracy of accessories and types, and the deepest mining depth of accessories logic.
Create a win-win DRP ecosystem
After the secondary fee reform of commercial auto insurance, insurance companies must actively respond to the reform, reduce claims costs and administrative expenses, and increase profits by improving efficiency, among which DRP will play a crucial role. This time, CCCIS and Ping An Property Insurance will work together to further promote the construction of DRP ecosystem. Based on the construction of big data, transparent and efficient DRP solutions will make the upstream and downstream of the industrial chain trust each other and smooth the cooperative relationship, and completely transform the past "zero-sum game" into the future "win-win symbiosis".
In the first half of this year, the basic work of DRP's domestic implementation has been well underway. CCCIS actively promotes the connection between insurance companies and large Auto repair chain enterprises, and has reached DRP strategic cooperation with Ningbo Baochen Group, one of China's top 100 auto dealers, Fix Auto, a repair chain group, and Huasheng Group, a luxury car repair chain group. Help maintenance enterprises to make full preparations in terms of system, technology and compliance, and lay a solid foundation for docking with insurance companies in the future, establishing effective communication mechanism and benign cooperative relationship.
Mr. Zhu Yougang, Deputy General Manager of Ping An Property Insurance, said: "The pursuit of excellence and continuous change are the genes of Ping An Company. Ping An Property Insurance has been committed to driving the innovation and development of the financial industry with innovative technologies. The cooperation with CCCIS is another upgrade of Ping An Property Insurance in the field of intelligent auto insurance claim management, vehicle basic data, automotive aftermarket DRP ecosystem construction, AI intelligent application and other financial insurance technology fields. "We look forward to the strong chemistry that can be generated from our collaboration and the new claims technology that will lead the world."
Talking about the significance of in-depth insurance cooperation with Ping An Property Insurance, Mr. Ji Taishi, Chairman and CEO of CCCIS Group, said: "Large property and property insurance companies in both China and the United States face common opportunities and challenges, and we are honored that CCCIS has built a strong foundation of trust with the insurance industry in the United States for nearly four decades. In the past few years, many large property and property insurance companies in China have recognized the value and role of CCCIS. Ping An Property Insurance is not only recognized as an excellent insurance company, but also its determination and achievements in transforming "insurance technology" are also recognized by all. CCCIS is very honored to cooperate with Ping An Property Insurance. With the help of its years of experience in insurance technology, CCCIS provides services to Ping An Property Insurance with intelligent auto insurance claim settlement APD, automotive aftermarket DRP and accurate basic data solutions. This not only represents the trust and recognition of Ping An Property Insurance for our brand and technical strength, but also lays a foundation for our future exploration and cooperation in more cutting-edge insurance technology fields. In the medium to long term, CCCIS will introduce more mature market commercialization of the latest technology, help Chinese insurance companies to embrace industry changes, improve management and control efficiency, and create business value. Get business continuity."
Cutting-edge scientific research leads the development of insurance technology in the future
On the basis of original products and services, based on decades of profound understanding of business and data, CCCIS has carried out more pioneering exploration and commercial practice in the innovation field of insurance technology, relying on the intelligent service platform of Internet of vehicles, intelligent human injury judgment, intelligent claim settlement based on picture deep learning and other advanced technologies. Help the vehicle, insurance, maintenance, spare parts industry to meet the changing changes, solve the confusion of industry development, create a virtuous circle of the ecosystem.
Among them, the intelligent service platform of the Internet of vehicles has great potential to comprehensively improve the claim service. Relying on the Internet of vehicles, insurance companies can provide more active customer support and service, reduce the time limit of claim settlement, coordinate customer support resources such as police force, medical emergency, trailer, intelligent prediction of vehicle damage and human injury, and realize real-time data docking with maintenance and spare parts enterprises. Accurately simplify the claim service process, reduce costs, improve efficiency, and provide owners with more rapid service. Two of the top three U.S. automakers have given CCCIS carte Blanche to handle Internet of Vehicles data in their in-vehicle systems.
Intelligent human injury science is built by CCCIS on the basis of nearly 40 years of human injury data, annual review of tens of billions of dollars of medical bills, processing tens of millions of pages of paper medical data, and integrating hundreds of millions of historical car damage claims in the correlation system. Combining scientific principles and human crash test data, it makes scientific injury judgment through the potential correlation between car damage and human injury. Can proactively alert suspicious injury diagnosis and treatment, continuously help insurance companies to improve the level of internal management. Seventeen of the top 25 property insurers in America have now commissioned CCCIS to provide medical services.
In terms of machine learning and artificial intelligence, CCCIS is the world's first insurance technology company to commercialize AI image loss determination technology. With the accumulation of massive historical claims, compensation amounts and tens of billions of historical photos, we can automatically generate loss orders through loss photos by using highly forward-looking data models, and confirm loss amounts through the coverage dimension of the whole vehicle parts, so as to improve the time limit of claim settlement for the insurance industry, reduce personnel costs and improve operation and management ability.
The above revolutionary insurtech products and applications will be gradually introduced into the domestic market in time sharing. With innovative insurtech research and development and practice, CCCIS will help the upstream and downstream of the industrial chain to reduce operation and transaction costs, improve customer service capabilities, and create a closed loop for the whole ecology -- insurance, maintenance, parts supply, Internet of vehicles, medical and human injuries, and ultimately achieve mutual benefit and win-win results. Built to last forever.
