Automation Glossary: Need-to-Know Terminology for Property & Casualty Claims Organizations and Collision Repair Facilities
Automating claims workflows have long been a central strategy for Property & Casualty (P&C) claims organizations and collision repair facilities seeking to efficiently and accurately process claims and manage repair complexity. In today’s dynamic environment, where each week seems to bring a new technology advancement, staying up-to-date on the latest automation technologies is key to understanding the future of the P&C industry.
Current Used Vehicle Market Conditions: Q3 2019
Average wholesale prices in October were flat relative to September, but remained modestly up on a year-over-year basis. Car prices fell on a monthly and annual basis, while truck-segment prices faired more favorably. Off-lease units showed signs of price softness. On the other hand, October CPO sales were strong, which is supportive of off-lease demand.
Average Length of Rental for Repairable Vehicles: Q3 2019
Average Length of Rental (LOR) for Q3 2019 landed at 12.4 days in the United States, an increase of 0.4 days compared to Q3 2018. Once again, there was very little consistency between regions and states or with Q2’s numbers. The Mid-Atlantic and Midwest regions produced the largest increases at 0.5 days each.
Airbags Take a Front Seat in Vehicle Safety and Collision Repairs
After veering into a ditch during an afternoon drive in 1952, an industrial engineering technician named John Hetrick drew inspiration for vehicle safety from an unlikely source; the inflatable, protective covers used on Navy torpedoes.
2020 Vision: A Look at Proper and Safe Glass Repair
As ADAS system components increasingly become standard on newer vehicles, running an efficient glass business while ensuring proper and safe glass repair is increasingly challenging. Glass installers need the best available tools to help streamline business operations and glass repair.
The Future of Humane Automation in Property & Casualty Claims and Collision Repair: Emotion AI
Renowned machine learning researcher and New York Times best-selling author, Kai-fu Lee, has described the era we are living in as “the age of implementation,” or a time period during which artificial intelligence (AI) is moving out of the lab and into practical applications.
Three Automotive Claims Market Predictions for 2020
With the end of 2019 rapidly approaching, it is only natural to start thinking about the year ahead. We took a look at our data from the past three years and started to forecast what we expect to see in the year ahead. The wave of complexity in the automotive industry shows no signs of slowing down, and that means additional pressures on claims costs in the coming year. The following are three predictions for what we expect to be in store for the automotive claims industry in 2020.
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