Insights
Average Length of Rental for Repairable Vehicles: Q2 2018
Average Length of Rental (LOR) for Q2 2018 landed at 11.6 days in the United States, an increase of 0.1 days compared to Q2 2017. This stagnation in the 2nd Quarter is now an official trend after similar results in 2017 and 2016. 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 course.
Field Inspection vs Virtual Estimating Trends
4 MIN READ
Insurance companies continue to seek ways to improve customer satisfaction while driving production efficiencies. Historically, most insurance companies offered three, maybe four standard methods of inspection (MOI’s) to assess damages to a vehicle in the claims process. These standard methods often include: a direct repair program (DRP), staff inspection at the vehicle’s location if within a staff member’s territory; or inspection by an independent appraiser.
Mitchell Total Loss Data: Q2 2018
View the total loss data for both vehicle age and actual cash value of total loss vehicles processed through Mitchell servers.
Mitchell Collision Repair Industry Data: Q2 2018
The initial average appraisal value, calculated by combining data from all first and third-party repairable vehicle appraisals uploaded through Mitchell systems in Q2 2018, was $3,109, $31 more than this same period last year. The continued development suggests a final Q2 2018 average appraisal value of $3,140.
The Power of Perspective: Seeing the Full Picture of a Claim
4 MIN READ
Every decision matters when handling an auto casualty or workers’ compensation claim. A poor decision could cause a delay in helping an injured worker get back to work, while a well-informed choice could help an auto insurance claimant receive compensation for their injuries sooner rather than later.
Off Patent Medications & Drug Patent Expiration: Quarterly Drug Update
3 MIN READ
Managing pharmaceutical decisions in a claim can greatly impact the outcome of that claim, from recovery time to costs. Therefore, close monitoring of pharmacy changes and compliance updates is vital. In our previous quarterly update, we took a closer look at the utilization of generic drugs and 'me-too' medications.
New Hazards and Opportunities for Insurers in the Internet of Things
According to the famous futurist Ray Kurzweil, “we won’t experience 100 years of progress in the 21st century—it will be more like 20,000 years of progress.” We are at an incredibly important moment in time—one that I believe historians will look back on as a pivotal time in the advancement of technology and in the way humans interact with it.
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