Perspectives

Extreme Weather & Total Loss: Preparing Insurance Carriers for Catastrophe Season

Tarek Wiley / Auto Insurance, Auto-Finance, Perspectives, Research, Total Loss Care /

Preparing Insurance Carriers for Catastrophe Season To account for reduced driving because of social distancing and shelter-at-home guidelines, auto insurers are returning around $10.5 billion to their customers, providing financial relief when they need it most. But on top of the premium rebates being offered to drivers, a major natural disaster could be catastrophic for business. As we enter peak catastrophe […]

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Shelter at Home – Impact of COVID-19 on Auto Accident Frequency

CCC Corporate / Client Updates, Collision Repair, COVID-19, Data, Industry News, Insurance, Perspectives /

Impact of Shelter at Home Orders   The New York Times reported as of April 2nd, “… [there are] 297 million people in at least 38 states, 48 counties and 14 cities and two territories are being urged to stay at home.”(i)  The state of California was the first to issue this decision, with the order effective March 19th.      Overall miles driven are already seeing a dramatic drop.  Daily traffic volume trends nationally had […]

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CCC Publishes its 2019 Crash Course Report

Michelle Hellyar / Crash Course, Industry News, Perspectives, Research, Uncategorized /

CCC Publishes its 2019 Crash Course Report Industry trends report explores shifts in vehicle technology, personal ownership, and driving and their impact on automakers, insurers, and collision repairers CCC Information Services Inc. (CCC) announced today the availability of its 2019 Crash Course report, a data-driven look at the business drivers and technology trends impacting the […]

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Streamlining Financial Data – a Win-Win

CCC Corporate / Collision Repair, Perspectives /

If you think about it, body shops must keep several balls in the air; along with the day-to-day demands of running a small business, they manage inventory of in-stock parts, order parts for incoming jobs, schedule jobs, attract and retain the right labor to complete quality work, etc., etc.  In addition, they may also be […]

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A Repair Shop Marriage Made in Heaven

CCC Corporate / Collision Repair, Perspectives /

Why It’s Important to Understand Your Shop Partners’ Workflow As a leader in CCC’s Solutions and Consulting Group, I have a broad view into the auto claims that CCC processes annually and the tools that enable this process. Our consulting group invests significant time each year working with our insurance carrier partners to help them […]

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Harvey: Trying to Gauge Impact

CCC Corporate / Perspectives /

To understand potential impact of Harvey on insurance losses to date, a comparison to past events can be instructive.  The following graph illustrates the impact on just total loss costs from several major weather events between 2003 and 2012. Superstorm Sandy was by far the most impactful, with both the volume and cost of the […]

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Rethinking the Business Case for Usage Based Insurance in Private Passenger Auto

CCC Corporate / Data, Perspectives, Telematics /

Strategize to Get the Most out of UBI Programs Several well-meaning experts in this space have written about the unsustainability of usage-based insurance (UBI) programs due to high costs and low returns. They argue that when you add up all of the acquisition, technology, and administrative expenses, as well as premium discounts or other incentives, […]

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Next Gen Hyperscale Expectations

CCC Corporate / Data, Perspectives, Telematics /

Data, Information, and Knowledge – The Trinity of Enterprise Value Based on the fundamental premise that data, information, and knowledge, are three intricate, indispensable, and interdependent elements, hyperscale systems – distributed computing environments that efficiently scale from a few servers to thousands of servers – are being built to unearth its untapped business values with unprecedented […]

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What’s Driving Repair Cycle Time?

CCC Corporate / Crash Course, Perspectives /

(As published in Claims Journal.) Numerous studies have been completed over the years that show consumer satisfaction with auto insurance companies is tied to their satisfaction with the vehicle repair.  Consumers say they want more visibility throughout the claim and repair process, and prefer information be sent to them on the device and at the […]

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When Will Safety Tech Really Make a Difference?

CCC Corporate / Crash Course, Perspectives /

(As published in Insurance Networking News.) There has been a great deal of press and research released in the last several months that have begun to question the how and the when of the advanced safety systems that have begun to make strides within the market.  Specifically, what percent of the overall vehicle fleet/auto claim […]

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