CCC Information Services Inc., a unit of Investcorp since early 2006 when it was acquired for about $496 million, was an early pioneer in the now-huge field of information services. Formed in 1980 by Chicago attorney Howard Tullman with a $300,000 investment, it used computer databases to help smooth the dents in auto-claims processing. It continues to offer software and services to help 350 insurers, 21,000 auto body collision-repair facilities and a range of independent appraisers and other industry participants.
From 1981 through 1985, CCC Information Services was the fastest-growing company in Illinois as well as one of the top 100 fastest-growing companies in the United States. It ranked No. 31 on the 1986 Inc. magazine 100 list and No. 54 on the magazine’s 1987 list as well as first in profitability among all of the listed companies for both years. That growth was spurred by a massive database of car dealers’ new and used inventories created by CCC in 1983 to keep its valuation system current. The system could be updated every few days and reflected the actual prices car dealers asked for used cars; insurers began to adopt the service.
CCC Information Services employs about 900 people, with the majority of those at its Chicago headquarters and its Itasca, Ill., facility.
