Driving much of the change in our industries and many others is the rapid change within technology. Market conditions have changed consumer expectations, with larger numbers of customers willing to pay more for a personalized experience. Consumers now also spend more time than ever before researching their options before they make any type of purchase - making it increasingly important for Insurers to focus on the customer experience. Insurers now more than ever need to ‘reimagine’ their business – reshaping it around the customer or user experience – a concept termed ‘human centered design’.
In the November edition of CCC Trends Susanna offers projections for the coming year in terms of automotive accident claim frequency and costs. The impact technologies like crash avoidance and light weighting of vehicle construction on the severity and frequency of automotive accident claims and vehicle repair costs is examined. This month we also take an in-depth look at the effects of economic factors such as GDP growth, interest rates, available financing and trends in vehicle leasing on trends in annual U.S. light vehicle sales and average MSRP.
We're excited to present a new monthly video series 'CCC Trends.' Watch as CCC's lead industry analyst, Susanna Gotsch gives her take on market trends covered more broadly in CCC’s annual Crash Course Report. In our inaugural edition of CCC Trends Susanna examines consumer preferences, advances in technology and some of the market forces that continue to shape the auto physical damage industry.