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Auto Physical Damage
Podcast
Episode 10: Collision Claim Trends and What to Expect in 2024
What keeps carriers and collision repairers up at night? In this episode, Ryan highlights the effect of recent collision claim trends—including rising repair costs, parts supply chain disruptions and advancements in vehicle technology—on the auto insurance ecosystem. He also provides a sneak peek at the four trends to watch for in 2024.
Auto Physical Damage
Article
Plugged-In: EV Collision Insights Q3 2023
Electric vehicle (EV) repairable claims frequency rose to 1.86% in the U.S. and 3.14% in Canada in Q3 2023—up a modest 0.37% and 0.50% respectively from Q2. Tesla, the world’s largest EV manufacturer, accounted for over 70% of the EVs repaired in North American collision facilities last quarter.
Auto Physical Damage
News Release
Mitchell Reports a Lower Total Loss Rate for Electric Vehicles
Mitchell released its latest trends report: Plugged-In: EV Collision Insights. This quarter’s report examines total loss frequency for electric and ICE automobiles. In the U.S. and Canada from Q1 to Q3 2023, the EV total loss rate was 7.25% for models 2020 and newer. Luxury ICE automobiles had a rate of 7.47% versus 8.49% for all ICE vehicles.
Auto Physical Damage
News Release
Mazda and Mitchell Renew Collision Network Agreement and Introduce Program Enhancements
Mitchell and Mazda North American Operations (MNAO) today announced that they have signed a contract renewal. Under the terms of the contract, Mitchell will continue to serve as program administrator of the Mazda Collision Network in the United States.
Auto Physical Damage
Article
Current Used Vehicle Market Conditions: Q3 2023
Average wholesale prices declined for the third month in July, although at a slightly more gradual rate than in June. Prices have so far stabilized in August and remain up by around 30% versus pre-pandemic.
Enlyte
Article
Beyond the Buzz: Do You Have GenAI FOMO?
Tech leaders are feeling pressured to integrate generative artificial intelligence (GenAI) into their programs, but what do we really need to understand about leveraging AI effectively and responsibly for Property and Casualty?