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.
Blinded by the Light: The Impact of Advances in Headlamp Technology on Auto Claims
Automotive headlamp technology has progressed tremendously over the past twenty years, rapidly moving beyond sealed beam and halogen headlamp assemblies. The early 2000’s saw the introduction of the first Xenon/HID systems that used pressurized gas to create a brighter and more expansive field of vision for drivers. Such technology was only available as an option on high-end luxury vehicles such as the Mercedes S Class and the BMW 7 Series.
Frequency and Severity Trends in Auto Claims
In late 2018, three of the largest auto insurers in the United States reported decreased frequency and increased severity in third quarter auto claims.
Advanced Driver-Assistance System Trends and Challenges
Automotive safety trends have come a long way from the first seatbelts offered in the 1950s. Today's advanced driver-assistance systems (ADAS) do more than reduce the risk of injuries during a crash; some features are designed to help avoid accidents altogether.