3 InsurTech Stocks Reinventing the $7 Trillion Insurance Industry

: CCCS | CCC Intelligent Solutions Inc. News, Ratings, and Charts

CCCS – Given the growing demand for insurance products across varied segments and the growing adoption of advanced technology, the insurance industry is well-poised for continued solid growth. Hence, it could be wise to invest in top insurtech stocks CCC Intelligent Solutions (CCCS), Oscar Health (OSCR), and Root, Inc. (ROOT) which are reinventing insurance industry. Continue reading…

The insurtech industry combines insurance operations with cutting-edge technologies like AI, ML, and IoT, offering consumers convenient and fair solutions and services. The insurtech segment is growing strongly and reinventing the $7 trillion insurance industry, including how its solutions are designed, delivered, and managed.

Given the industry’s rapid evolution, investing in fundamentally strong insurtech stocks CCC Intelligent Solutions Holdings Inc. (CCCS), Oscar Health, Inc. (OSCR), and Root, Inc. (ROOT) could be ideal investments in the upcoming year.

The insurance industry is rapidly evolving owing to the various factors that are reshaping the landscape. Robust economic growth, technological advancements, rising healthcare costs, demographic shifts, growing cyber risks, and evolving customer expectations are key contributors to this expansion.

Besides, the emergence of Insurtech companies has significantly revolutionized the market with the introduction of innovative technologies like artificial intelligence (AI), machine learning, the Internet of Things (IoT), big data, and blockchain. These innovative technologies have resulted in improved risk identification and mitigation measures, streamlined processes, and enhanced customer experience.

Statista projects that the insurance market in the United States will reach a market size (gross written premium) of $3.93 trillion in 2025. Further, the USA life & non-life insurance market in terms of net written premiums value is anticipated to reach around $3.02 trillion by 2030, exhibiting growth at a CAGR of 6.9%.

Further, insurance companies are increasingly leveraging AI to optimize their operations, enhance customer experiences, and stay competitive in the market, resulting in robust growth of global artificial intelligence (AI) in the insurance market. The market is poised to reach $141.44 billion by 2034, expanding at a CAGR of 33.1%.

Considering this favorable backdrop, let’s assess the fundamentals of the three insurtech stocks which are reinventing and revolutionizing the $7 trillion insurance industry.

CCC Intelligent Solutions Holdings Inc. (CCCS)

CCCS operates as a software as a service company for the property and casualty insurance economy internationally. The company’s cloud-based SAAS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflow across the insurance economy, including insurers, repairers, automakers, parts suppliers, lenders, and more.

On January 6, 2025, CCCS and its subsidiary completed the acquisition of EvolutionIQ, Inc., the leading platform for AI-powered guidance for disability and injury claims management. The strategic acquisition expanded CCCS’ market reach into strategic adjacencies – disability and workers’ compensation- and strengthened its SaaS platform with transformative AI capabilities.

The companies’ combined strength of AI-based platforms will revolutionize claim resolution across the insurance economy.

On November 13, 2024, CCCS and Repairify, the global leader in remote diagnostics, calibrations, programming, and automotive intelligence, announced today a new integration between the ADAS-focused platform, adasThink, and CCC ONE® software from CCCS.

The collaboration aims to provide collision repair shops with seamless access to advanced driver assistance systems insights, helping to enhance repair precision, increase efficiency, and reduce cycle times.

For the third quarter that ended September 30, 2024, CCCS’ revenues grew 7.8% year-over-year to $238.48 million. The company’s adjusted gross profit increased 8% from the year-ago value to $185.93 million. Its adjusted operating income came in at $91.19 million, up 10.3% from the prior year’s quarter.

Furthermore, the company’s adjusted net income was $62.58 million or $0.10, reflecting 9.5% and 11.1% year-over-year increases, respectively. Also, CCCS’ adjusted EBITDA rose 9.3% from the prior year’s period to $101.55 million.

CCCS issued its financial guidance for the fourth quarter and full-year fiscal 2024. The company expects revenue of $242.50 million to $246.5 million and adjusted EBITDA of $103 million – $105 million for the fourth quarter.

For the full fiscal year 2024, the company projects revenue between $ 941 million and $945 million. Its adjusted EBITDA is set between $ 394 million and $396.0 million.

Street expects CCCS’ EPS for the fourth quarter (ended December 2024) to increase 8% year-over-year to $0.10, while its revenue for the same period is expected to grow 7.2% year-over-year to $245.09 million. Also, the company topped the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.

Shares of CCCS have gained 4.2% over the past six months and 6.2% over the past year to close the last trading session at $11.70.

CCCS’ robust outlook is reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.

CCCS has a B grade for Growth, Stability, and Sentiment. It is ranked #10 out of 18 stocks in the A-rated Software – SAAS industry.

In addition to the POWR Ratings I’ve just highlighted, you can see CCCS’ Momentum, Value, and Quality ratings here.

Oscar Health, Inc. (OSCR)

OSCR is a health insurance company that offers health plans in individual and small group markets and provides reinsurance products. It also offers +Oscar, a technology-driven platform that helps providers and payors directly enable their shift to value-based care.

On November 15, 2024, OSCR introduced affordable health insurance products with Oscar experience, which empower individuals, families, and businesses through the ACA marketplace in New Jersey. This includes services built to meet personal needs and preferences, high-quality networks, and technology solutions.

Also, on November 4, 2024, OSCR entered the greater Charlotte and Winston-Salem areas of North Carolina and introduced the Oscar experience to individuals and families through the ACA marketplace in 2025.

For the nine months that ended September 30, 2024, OSCR’s total revenue increased 53.1% year-over-year to $6.78 billion, and its earnings from operations was $ 205 million. The company’s net income attributable to OSCR and EPS came in at $178.98 million and $0.65 for the period, respectively.

In addition, the company’s adjusted EBITDA grew 370% from the year-ago period to $311.88 million.

Analysts expect OSCR’s revenue and EPS for the first quarter (ending March 2025) to increase 30.3% and 2.4% year-over-year to $2.79 billion and $0.64, respectively. Moreover, the company has an impressive earnings surprise history as it surpassed the consensus EPS and revenue estimate in three of the trailing four quarters.

OSCR’s shares have surged 20.4% over the past month and 47% over the past year to close the last trading session at $16.26.

OSCR’s bright prospects are reflected in its POWR Ratings. The stock has a B grade for Value. Within the A-rated Medical – Health Insurance industry, OSCR is ranked #9 out of 10 stocks.

Click here to access additional OSCR ratings for Sentiment, Quality, Growth, Momentum, and Stability.

Root, Inc. (ROOT)

ROOT offers insurance products and services. The company provides automobile, homeowners, and renters’ insurance products. It operates a direct-to-consumer model and serves customers primarily through mobile applications and its website.

On December 17, 2024, ROOT introduced Root Insurance in Minnesota, marking its presence in over 35 states, offering an innovative approach to auto insurance to over 4 million registered drivers in Minnesota. The service expansion will provide drivers with a new option for fair, affordable prices that reflect their individual driving habits.

On September 5, 2024, ROOT partnered with First Connect Insurance Services, a digital platform designed to support independent agents. The partnership aims to offer API-powered quotes and binding capabilities to independent insurance agents. The interface streamlined access to ROOT’s standard and preferred auto insurance for agents and expanded companies’ offerings.

In the third quarter that ended September 30, 2024, ROOT’s total revenue increased 5.7% from the prior quarter to $305.70 million. Its gross profit grew 39.5% from the quarter-ago value to $98.90 million. Also, the company’s adjusted EBITDA rose 243.8% from the previous quarter to $41.60 million.

The company’s net income and EPS were $22.80 million and $1.35 for the quarter, respectively.

Analysts expect ROOT’s revenue for the fourth quarter (ended December 2024) to increase 47.7% year-over-year to $287.79 million. Likewise, the company’s revenue for the fiscal year 2024 is estimated to grow 149.6% from the prior year to $1.14 billion. Also, it has topped the consensus revenue and EPS estimates in all four trailing quarters.

ROOT’s stock has gained 14.3% over the past month and 790.1% over the past year to close the last trading session at $81.18.

ROOT’s POWR Ratings reflect its promising outlook. The stock has an A grade for Momentum. It also has a B grade for Growth. ROOT is ranked #46 of 55 stocks within the A-rated Insurance – Property & Casualty industry.

To see additional POWR Ratings of ROOT for Value, Stability, Sentiment, and Quality, click here.

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CCCS shares were trading at $11.49 per share on Thursday afternoon, down $0.21 (-1.79%). Year-to-date, CCCS has declined -2.05%, versus a 3.75% rise in the benchmark S&P 500 index during the same period.


About the Author: Rjkumari Saxena


Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions. More...


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