Insights
Auto Casualty Medical Price Index: Q1 2018
2 MIN READ
The National Consumer Price Index, or CPI, for All Services, as reported by the Bureau of Labor Statistics in May 2018, was 124.14, which reflects a 0.6 percent increase since Q3 2017 and further eliminates the decrease experience seen in Q1 2017.
Average Length of Rental for Repairable Vehicles: Q1 2018
Average Length of Rental for Repairable Vehicles: Q1 2018 Average Length of Rental (LOR) for Q1 2018 landed at 12.5 days in the United States, an increase of .4 days compared to Q1 2017. This represents a return to the consistent upward trends generated throughout 2015 and 2016 after a largely fat 2017 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.
Total Loss: Q1 2018
The chart below illustrates the total loss data for both vehicle age and actual cash value of total loss vehicles processed through Mitchell servers.
Premiums Written: Q2 2018 Casualty Must-Reads
2 MIN READ
Each quarter, I round up and highlight some of my favorite articles written by Mitchell experts and let you know where we have been published outside of our mPower thought leadership website. This quarter, Mitchell was featured in PropertyCasualty360, where Senior Director of Product Management Rebecca Morgan partnered with Bill Morgan from Guidewire Software to discuss the value of systems integration.
Mitchell Collision Repair Industry Data: Q1 2018
The initial average appraisal value, calculated by combining data from all first and third-party repairable vehicle appraisals uploaded through Mitchell systems in Q1 2018, was $3,166, $124 more than this same period last year. Continued development suggests a final Q1 2018 average appraisal value of $3,196
June 2018 Used Vehicle Market Conditions
Average wholesale used vehicle market prices registered their first year-over-year price decline since August 2014, continuing the general softening pattern seen since the impact of the hurricanes waned in late 2017. Retail used vehicle sales, including CPO sales, were strong, reflecting Spring, tax-season demand.
Back to the Basics: Cost Control and the Role of Precertification and Utilization Review in Workers’ Compensation
3 MIN READ
Medical expenses, now averaging well over 60 percent of average claims costs,1 represent a significant impact on an employer’s workers’ compensation total cost of risk. This trend isn’t going away soon, as this average is expected to climb even higher in the coming years. Contributing to the climb are expenses incurred for treatment that are unrelated to an injured workers’ injury.