Dec. 13, 2013—Mitchell released its insurance industry predictions for 2014 on Wednesday, forecasting improvements for the collision repair industry pertaining to operations and better ways to contain costs.
"As the amount of data rises throughout the property and casualty and collision repair industries, more organizations will find ways to leverage this information to improve operations and contain costs," said Greg Horn, vice president of industry relations for Mitchell. "The rate of data coming in is too large and too fast to ignore, making technology and insights into business intelligence and predictive modeling a top priority for everyone."
According to a press release “Big Data” analytics will improve operations and streamline processes. The release goes on to state that the data can help insurers identify fraud cases more effectively, improve cycle times, and consumer satisfaction.
For more information about the 2014 forecasts, visit Mitchell’s website.
