We curate our primary research to walk through the unit flow of a single repairable US auto physical-damage (APD) claim. In 2024, according to CCC, the average claim severity $4,730 of an estimated ~16M US APD claims/year (NAIC 2024). CCC sits between the auto insurer and the body shop on the claim; the software is mission-critical to both sides and represents an estimated <1% of insurer premium and <5% of insurer LAE.

When it comes to CCC, there are casualty products and there is physical damage, auto physical damage. They call it APD, and casualty is casualty. The money that gets spent across the ecosystem; let's use GEICO as an example. $43 billion in premium and LAE is probably 8% or 9%. 8% or 9% of $43 billion is $3.5 billion, give or take. There is a lot of money in that bucket. CCC gets a lot, but it's not everything...maybe $50 to $100 million. - Former Senior Vice President at GEICO