CCC Information Services Acquires DriveFactor
May 13, 2015—CCC Information Services Inc. (CCC) announced on Wednesday that it has acquired DriveFactor, a technology platform provider for insurance telematics.
CCC said it will strengthen and extend DriveFactor’s technology to create the first full-service, open telematics platform for auto insurance.
McKay said, “Telematics is rapidly evolving and holds enormous potential for carriers to increase consumer engagement, strengthen loss ratios, and improve claims performance,” said Steve McKay, CEO of DriveFactor. “To realize the promise of telematics and stay ahead of the curve, carriers will need to access an array of technologies, from OEM systems to device and service providers. A full-service, open platform delivers choice and scale to carriers as their needs in telematics grow and change.”
CCC said that DriveFactor’s technology “provides superior flexibility and data quality for underwriting and marketing, and by integrating telematics data into existing claims operations carriers, will have the first full-service solution to satisfy their policyholders and improve efficiency.”