Mitchell Issues Third Quarter 2018 Industry Trends Report
September 12, 2018—Mitchell released its Industry Trends Report (ITR) for the third quarter of 2018.
Mitchell provides insights in the report into three industry trends: the technology-driven changing nature of insurance risk in the Age of Automation, the importance of creating an outstanding blueprint for a proper and safe automotive repair, and how having a comprehensive perspective of a claim can provide better results throughout the claims process.
In this edition of the Industry Trends Report, Mitchell CEO Alex Sun discusses how technology is changing the nature of insurance risk in the Age of Automation, diving deep into one of its most powerful drivers, the Internet of Things (IoT). Sun discusses how technologies are now leveraging the power of IoT connectivity, creating new types of hazards and opportunities that have no historical precedence, from smart cities and homes to autonomous vehicles and connected medical devices.
This quarter’s Casualty edition explores the importance of having a complete, objective view in its feature article, “The Power of Perspective: Seeing the Full Picture of a Claim.” In this article, Nina Smith, Mitchell International executive vice president and general manager, casualty solutions, explains how integration and “the combination of technology and data provides the insights required … to give adjusters a full picture of the claim, creating better outcomes and helping restore lives.”
As each model year brings technical advancements, vehicles get more complex and difficult to repair. Creating an outstanding blueprint to automotive repair is an integral part of performing a proper and safe repair. In this quarter’s Auto Physical Damage edition of the ITR, Wayne Krause, Mitchell’s manager of editorial content, provides the 10 keys to complete estimating in his, “10 Tips Every Estimator Should Be Following.” Krause explains that, “creating a road map of how the vehicle is going to be repaired incorporates accuracy, efficiency and SOP compliance into the repair process.”
Now in its 17th year, Mitchell's ITR reaches more than 30,000 collision and casualty industry professionals and provides meaningful visibility into data-driven trends in the P&C and collision repair markets. The complete reports are available here.