The start of 2016 finds the property casualty insurance and collision repair industries at what might be described as an inflection point. Auto claim frequency and loss costs are on the rise again: consumers are back at work, spending more time behind the wheel, and quickly adapting to a world that is rapidly becoming more digital. With technology providing greater speed and transparency, businesses are using mobility, big data and analytics to improve processes and products that cater to a broader array of customer demands.
It’s 2016 and our industry is at an inflection point – the pace of change will be swift. Taking strategic and systematic steps to continue to modernize our technologies and business models is essential to remain competitive.