Insights
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.
Advanced Technologies Reduce Complexity and Restore Lives
The renowned futurist Ray Kurzweil once said, “We won’t experience 100 years of progress in the 21st century—it will be more like 20,000 years of progress.” He is not alone in his thinking. By all accounts, we live in a time of unprecedented change, one that is driven by the exponential evolution of technology.
Do You Need a Medicare Set-Aside?
Workers' compensation payers are under increasing pressure to consider and protect Medicare's interests when settling claims. In this edition of Inside Workers’ Comp, Deborah Robinson Stewart, National Manager of Medicare Services at Genex, breaks down the basics of MSAs and offers insight of when they should be established.
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