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CCC Information Services Inc. Completes Sale of Its Subsidiary Professional Claims Services Inc.

CHICAGO -- CCC Information Services Inc. has announced that it has completed the sale of its subsidiary, Professional Claims Services Inc., to PCS Administration, Inc. Headquartered in Placentia, California, Professional Claims Services Inc., provides claims administration services to automobile insurance carriers.

"Our strategy to exit the claims outsourcing business, which was announced earlier this year, remains on target," said Githesh Ramamurthy, Chairman and Chief Executive Officer of CCC Information Services Inc.

"We are excited about the opportunity to take PCS private once again. The timing is perfect and fits squarely within our long-range business plans and objectives. We are working closely with CCC to ensure a smooth transition," said David Churchill, President of PCS Administration, Inc. "Fortunately, the PCS management team remains the same. This will allow us to focus on our core competency of providing extraordinary claims services to the insurance industry."

CCC Information Services Inc. previously announced its decision to exit the U.S. claims outsourcing business in April of this year.

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