Insights
Mitchell Total Loss Data: Q1 2017
The chart below illustrates the total loss data for both vehicle age and actual cash value of total loss vehicles processed through Mitchell servers.
Will We See Human Interaction Disappear with AI in Insurance?
4 MIN READ
Artificial intelligence (AI) has the potential to profoundly impact the insurance industry. Although I would be challenged to explore all the potential use cases for it in a single blog post, I do want to take a look at how it is changing the way consumers interact with their insurance company and the ability of insurance companies to deliver optimal claims experiences—and ultimately, better outcomes.
The Compliance Corner: Using Subluxation Codes vs. Dislocation Codes
Before implementation of ICD-10-CM, during the archaic times of ICD-9-CM (was it really only 16 months ago?!), chiropractic physicians typically reported diagnosis codes from the 739 series of “non-allopathic lesions” which included “segmental and somatic dysfunction.”
Motor Vehicle Markets: Q1 2017
The tale of two markets resumed in March, as wholesale prices were below year-ago levels for cars and above prior year for trucks. Nevertheless, both groups showed price increases versus February’s unseasonably soft results, as retail sales and wholesale activity showed signs of the traditional spring/tax season market typical for used vehicles.
Computer Vision: From Diagnosing Cancer to Transforming the Collision Claims Process
From the day Watson beat Ken Jennings at Jeopardy, artificial intelligence (AI) has captured our collective imagination. Just six years later, AI has gone from game show gimmick to one of Gartner’s 2017 Top Ten Strategic Technology Trends. Every day brings more news about the latest advancements, and verticals of all types are turning to it to help meet evolving customer needs and business demands.
Workers' Compensation Medical Price Index: Q2 2017
2 MIN READ
The National CPI for All Services as reported by the Bureau of Labor Statistics in August 2017 is 120.9, which reflects a 1.7 percent decrease since Q1 2017. For the same period of time, Q1 2017 to Q2 2017, the National Workers’ Compensation MPI decreased 2.8 percent and as August 2017, sits at 110.7. Since Q1 2006, the MPI has increased 10.7 percent while the National CPI for All Services increased 20.9 percent.
The Compliance Corner: What Lies Ahead for Medical Marijuana Insurance Coverage?
Prescription protocols for medical marijuana are changing monthly due to new studies promoting use and regulatory bodies that allow the prescription of medical marijuana in their states. Medical marijuana, sometimes referred to as “Medical Jane,” has been used for medical purposes since 1550 BC in ancient Egypt to treat inflammation.