Is Your Collision Repair Facility Ready for Electric Vehicles?
Some automakers are staking their futures on electric vehicles (EVs). General Motors announced it will launch twenty new, completely electric vehicles by 2023. VW plans to build 22 million electric cars in ten years. Daimler plans to offer an electrified variant for every model in its portfolio.
Humanizing the Collision Claims Experience in the Digital Age
Today’s customers have high expectations. From ordering coffee to online banking, they experience personalized, on-demand service from the businesses they interact with, and they expect the same from their insurers. How can insurance claims organizations adapt to a digital world and continue to exceed customer expectations? Start by reading these five tips from industry experts for humanizing the collision claims experience.
Top Five Automotive Trends for 2020
With each new year, we seem to be faced with another salvo of changes in the automotive industry, far surpassing trends experienced over the past few decades. 2020 appears poised to be a pivotal year for both the furtherance of development already in place and fresh forces of disruption.
Changes in Weather Patterns and Claims Impact
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We haven’t reached mid-year 2019, and the United States has already experienced several severe weather events, including a polar vortex and many hail storms in the Midwest, massive flooding in the Northern Plains, and heavy El Niño rains in California.
Average Length of Rental for Repairable Vehicles: Q1 2019
Average Length of Rental (LOR) for Q1 2019 landed at 12.8 days in the United States, an increase of 0.3 days compared to Q1 2018. Once again, there was very little consistency between regions and states, suggesting that the quarterly result for the U.S. is not reflective of a genuine national trend. The Mountain and Pacific regions produced the largest increases at 1.1 and 0.9 days respectively. The Southwest was the only region that did not increase by staying even at 13 days.
Property & Casualty in the Age of (Humane) Automation
Welcome to the age of (humane) automation. As organizations ramp up technology investment in search of greater efficiency, a global conversation is emerging around the need to use artificial intelligence ethically and to ensure that people remain at the center of technological innovation.
Current Used Vehicle Market Conditions: Q1 2019
Average wholesale prices and retail used vehicle sales were strong in March, typifying the usual spring/tax season market uptick. In addition, our analysis increasingly indicates that prices for car segments are beginning to hold up better, while crossover and SUV truck segments may be starting to have a tougher go. In recent years, the opposite has been true. As mentioned in previous commentaries, this is to be expected as more crossovers and SUVs start coming home to roost from strong new vehicle sales over the last few years.