Insights
Surviving and Thriving During Challenging Times
June 8, 2020
COVID-19 has changed our world...literally. In just four months, we’ve seen businesses close, manufacturing plants halt production and the unemployment rate skyrocket. The collision repair market has been especially hard hit due to shelter-in-place mandates that have resulted in fewer cars on the road and far fewer accidents. According to a recent survey, 52% of U.S. repair facilities reported a decline in sales in March 2020 as compared to March 2019 and 43% have had to reduce their workforce. In Canada, the effects are similar.
Current Used Vehicle Market Conditions: Q1 2020
June 7, 2020
After a strong start to 2020 in January and February, the COVID-19 crisis wiped out gains in wholesale prices in virtually all categories.
Total Loss Trends Emerge Amidst the Pandemic
June 2, 2020
Every industry has been impacted by actions taken to control the spread of COVID-19, including the automotive industry. Growing unemployment, coupled with a pivot to remote working, has changed consumer priorities and curtailed car-buying habits. The decline in miles traveled has also resulted in less wear and tear on vehicles, thereby reducing the replacement rate. Additionally, like many other manufacturers, some automakers temporarily closed or repurposed plants to produce ventilators and personal protective equipment. They also closed dealer showrooms to protect employees and the public. Amidst the COVID-19 response, these and other changes in market dynamics are giving rise to new emerging total loss trends.
Reduce In-Person Interactions and Improve Efficiency with Virtual Claims
June 1, 2020
1 MIN READIn March, Ryan Mandell, director of Claims Performance for Mitchell’s Auto Physical Damage business unit, identified the market drivers converging to make the concept of claims virtualization a reality.
COVID-19 Ripple Effect on Auto Insurance Market
June 1, 2020
After months of sheltering in place, it should come as no surprise that claims volumes are down. COVID-19 has impacted markets around the globe, and has produced ripple effects in the auto insurance market that are influencing many aspects of the claims ecosystem—from the global supply chain to workflows to the car parc itself. So what does this mean for collision repair and the claims industry as a whole? Three early indicators have already emerged that could have a long-lasting impact.
Guide to Selecting an Electronic Payments Vendor
May 28, 2020
The workers’ compensation and auto casualty industries today are still in most cases, bogged down by paper. While it can be challenging to transition a claims operation to digital, removing paper from the claims process can provide many benefits, including improving data quality, efficiencies and effectiveness, and can help payors comply with current state regulations and adapt to future regulations. One highly effective and relatively simple method to move toward a paperless approach is implementing an electronic payment system to create a medical claims workflow where payment, fulfillment, remittance and filings can help carriers eliminate paper checks and the administrative processes and costs that come with them.
Pot Policies in Workers' Compensation and Auto Casualty [Webinar]
On-Demand
2 MIN READEven as the pandemic takes center stage, marijuana legislation has been making headway in several states this year.
Technology and Expertise Driving Better Claims Outcomes
Mitchell simplifies and accelerates claims management and collision repair processes through the broadest range of technology solutions, networks, and partners in the P&C industry.
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