The ‘shelter-at-home’ directive that took place across most of the U.S. this spring shed new light on just how different ‘home’ is across the U.S., and led to a number of new, enhanced, accelerated or disrupted demographic trends. Time spent commuting to work grew in the last two decades as populations gravitated toward metro areas […]
With numerous public insurers reporting Q2 2020 and first half CY 2020 results, a common theme has emerged. Collision and property damage liability claim frequencies for Q2 2020 were reported down between 20 – 40 percent, while claim severities were reported up between 10 – 20 percent. In this month’s edition of CCC Trends, analyst […]
COVID-19 is dramatically changing driving behavior nationwide. While claims and miles driven are decreasing, one thing has increased – drivers’ appetite for risk. The reduction in U.S. daily trips taken and miles driven resulted in 65 percent less miles traveled in April 2020 versus January 2020. Speeding during COVID-19 increased by 27 percent. In […]
With economic recovery and cheap gasoline prices, more people have taken to the road again. This increase in miles driven can be expected to drive up auto claim frequency – a key concern. Although miles driven are expected to grow further, projections from the FHWA suggest the rate of growth will slow in the next […]
Increases in auto claim frequency have been a topic of great interest to all in our industry. Miles driven in the U.S. had been trending up slowly coming out of the recession, but when gas prices dropped, miles driven began to increase again. Overall miles driven rose 3.5% in CY 15 versus the prior […]
(This article was first published in Claims Journal.) 2015 was in many ways a break-out year, where the automotive insurance and collision repair industries emerged from an almost eight year hiatus or pause in historic trends for automotive claim frequency. 2016 will likely see continuation of many of the trends experienced in 2015, but also […]
The October 2015 CCC Trends video explores further demographic shifts in terms of where people are choosing to live and how that may be driving auto claim frequency trends. Analysis of recent census data through July 2014 by William Frey of the Brookings Institute confirms populations in the U.S. large cities have continued to grow. […]