Technology has changed the way that we all interact with one another and our surroundings, and even how we choose which companies to do business with. Digital devices have become an ingrained part of everyone’s lives, with 92 percent of U.S. adults owning a cell phone (includes smartphones); 73 percent owning a desktop/laptop computer; 68 […]
2016 Auto sales in the U.S. set yet another record reaching 17.539M sales. 2016 also was the seventh consecutive year of annual sales gains, the longest streak since 1909-17. Despite record new sales, automakers are facing numerous challenges over the next several years – they must make significant investment to meet the fuel economy standards […]
As we head into the final weeks of 2016, the momentum for change is perhaps larger than we’ve seen in many years. Despite the daily headlines regarding companies like Google, Uber, MIT, Mobileye and others, the traditional car ownership model is not dead, and continues to drive the automotive insurance and collision repair industries. To […]
(As published in Insurance Networking News.) There has been a great deal of press and research released in the last several months that have begun to question the how and the when of the advanced safety systems that have begun to make strides within the market. Specifically, what percent of the overall vehicle fleet/auto claim […]
In this month’s issue of CCC Trends we explore some of the factors that are driving up repair cycle times for the industry. Over the last three years, the average number of days from the date the vehicle is brought into the shop to the date it is picked up, or “keys to keys” has […]
Total loss frequency continues to be elevated as we head into the second half of CY 2016. When looking at collision and liability losses the percent of vehicle appraisals flagged total loss for the 1st half of 2016 is the highest seen in the last six years (see Figure 1). In large part, much of […]
There has been a great deal of press and research released in the last several months that have begun to question the how and the when of the advanced safety systems that have begun to make strides within the market. Specifically, what percent of the overall vehicle fleet/auto claim count now has these systems; how […]
(This article was first published in Insurance Networking News.) With economic recovery and cheap gasoline prices, Americans have taken to the road again. With many in the midst of planning for 2017, understanding how increased miles driven may drive up auto claim frequency further is top of mind. In this article we’ll discuss some of […]
As we head into the second half of 2016, the industry continues to see elevated total loss frequency. In fact, for collision and liability losses, the percent of vehicle appraisals flagged total loss for the 1st half of 2016 is the highest seen in the last six years. So why do we see a larger […]
(This article was first published in PropertyCasualty360.) Economic recovery, cheap gas prices, more vehicles on the road overall, and more miles driven per vehicle have been attributed with much of the increase in auto accident/claim frequency coming out of the recession, and in particular in CY 2015 and CY 2016 to date. Overall miles driven in […]