CCC Acquires Injury Sciences
Dec. 18, 2012—CCC Information Services Inc. has signed a definitive agreement to acquire Injury Sciences, a provider of scientifically-based analytic tools that help insurance carriers identify fraudulent and exaggerated injury claims associated with automobile accidents.
The acquisition is expected to close by the end of the year. Terms of the transaction were not disclosed.
“Injury Sciences is the pioneer of injury causation technology and we are thrilled that they will become part of the CCC family,” said Githesh Ramamurthy, chairman and CEO of CCC, which provides claims software to more than 350 insurance companies and more than 21,000 repair facilities. “With their addition, CCC will be able to leverage the synergy between the most advanced scientific software for the analysis of vehicle damage and related auto injury claims with the largest auto claims database in the United States. This is a tremendous opportunity to further advance our market-leading position in predictive analytics.”
Scott Palmer, president and CEO of San Antonio-based Injury Sciences, which provides its software and services to more than 50 insurance carriers, said the combination of the two companies will allow for improved software solutions through an exponential increase in access to collision data and tight integration with CCC’s workflow platform.
“We are extremely excited about the opportunity to be a part of CCC. For many years, CCC has uniquely shared our vision of scientifically leveraging auto physical damage analysis to proactively deter the high cost of fraudulent injury claims,” Palmer said. “We see this acquisition as a natural fit that will only strengthen the solutions we both provide to the auto insurance industry.”