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 wholesale prices in December fell on a year-over-year basis for the second month in a row and for the seventh time in 2018, supporting our expectation of general price softening due to supply growth. Supply growth is increasingly concentrated in the truck segments, which consequently saw greater price softening in December than did cars.
Though the Property & Casualty (P&C) industry has made definitive inroads into technology adoption, there remain vast opportunities for the sector to reap the benefits of technology to achieve better, faster results. Insurers and claim organizations at large still have a big opportunity to digitize their operations to improve casualty claim outcomes––incumbent insurance carriers could more than double their profits over a five-year period by digitizing their current business operations, according to a McKinsey report.
In part I of the series, we discussed the first steps of developing a physician peer review panel including determining candidates for the panel and some basic steps to credentialing, including validating state licenses, experience, knowledge and other factors.
The Latest Technology Trends, Industry Insights, Data And Analyses On The Property & Casualty And Collision Repair Industries.
The introduction of photo-based estimating brings insurance carriers great benefits such as increased efficiency and cost-effective resource management.
Keep current with new legislation and its potential effect on your organization. This regulatory update is for informational purposes only, and provides some key highlights on state initiatives that may impact the bill review services Genex provides.