TempusDirect and CCC Intelligent Solutions are now working together on third-party casualty solutions.
With TempusDirect’s repricing services integrated into CCC’s cloud platform for the property and casualty (P&C) insurance economy, insurers can better review, adjust and negotiate third-party medical bills, the companies said in a Thursday (May 4) press release.
“By working with CCC we can help our mutual customers identify ineligible bills, ingest referrals automatically or manually based on customer preference, and provide the valuable services in an integrated solution that will be unmatched in the industry,” TempusDirect Chief Operating Officer and Co-Founder Josh Dickerson said in the release.
The integration of TempusDirect into the CCC Network will enable CCC customers to perform medical bill review in CCC’s Injury Evaluation Solutions (IES), refer medical bills for TempusDirect’s services, and apply adjustments and finalize an evaluation when the referral results are returned to the IES, according to the release.
The combination will also bring together CCC’s photo-based artificial intelligence (AI) and newly upgraded bill review engine, and TempusDirect’s capabilities around collateral source validation, live benchmarking, and direct-to-provider networks and negotiations, the release said.
“Combining CCC’s bill review engine and full suite of offerings with integrated access to TempusDirect’s suite of direct-to-provider solutions will create powerful synergy to drive outcome accuracy,” CCC Vice President of Product Management Kevin Moynihan said in the release. “This integration also improves the adjuster experience by eliminating the need to access multiple systems to perform these critical evaluation activities.”
The digitization of the P&C insurance economy continues to grow markedly, CCC executives said Tuesday (May 2) during the company’s quarterly earnings call.
AI is a key driver of that shift toward a streamlined and more cost-effective claims experience for all parties involved.
“Our clients in the P&C insurance economy are increasingly focused on the need to manage the business through two powerful megatrends: accelerating operational complexity and rising consumer expectations,” CCC CEO Githesh Ramamurthy said during the call. “Last year, auto insurers in the United States paid out over $200 billion in claims indemnity and spent about $25 billion on administrative expenses to handle those claims.”
PYMNTS research has found that digitization is a very important strategy to improving balance sheets.
Seventy-one percent of finance and insurance CEOs said that’s the case, as did 64% of healthcare and medical CEOs, according to “Money Mobility Comes to the Insurance Industry,” the January edition of the “Money Mobility Tracker®,” a PYMNTS and Ingo Money collaboration.