Insights
The Power of Technology: Six Ways to Improve Casualty Claim Outcomes
7 MIN READ
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.
The Art of Creating a Physician Peer Review Panel: Contracting and Training
4 MIN READ
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.
Average Length of Rental for Repairable Vehicles: Q4 2018
Average Length of Rental (LOR) for Q4 2018 landed at 12.7 days in the United States, an increase of .3 days compared to Q4 2017. This is a departure from the flat year-over-year results in Q2 and Q3. Once again, there was very little consistency between regions and states, suggesting the quarterly result for the U.S. is not reflective of a genuine national trend.
5G: What High-Flying Predictions Mean for the Property & Casualty and Collision Repair Industries
Today’s technology news is dominated by articles about the promise of 5G, and with 5G set to roll out even more broadly in 2020, the impact that it will have on the Property and Casualty and collision repair industries will be significant. 5G, so named because it’s the generation following today’s 4G, could bring mobile phones information 600 times faster than today’s speeds.
Premiums Written: Q1 2019 Casualty Must-Reads
2 MIN READ
This quarter, we were featured in PropertyCasualty360 where Executive Vice President and General Manager Nina Smith explained how technology and automation can actually help to further humanize the claims process by freeing up employee’s time to focus on the claimant.
OEM Efforts to Promote Environmental Stewardship
According to the Environmental Protection Agency (EPA), transportation contributes 27% of all greenhouse gas emissions in the United States. Much of this pollution comes as a result of carbon monoxide (CO) and nitrous oxide (NOx) emissions in addition to other hydrocarbons and particulate matter. With the potential for an increase in Corporate Average Fuel Economy (CAFE) requirements looming on the horizon, automakers have been focused on improving the fuel efficiency of their fleets with increasing commitments to electric vehicle production.
Current Used Vehicle Market Conditions: Q4 2018
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.