CCC Intelligent Solutions Inc. (CCC), a company providing software for the collision repair industry, has released its 28th annual Crash Report detailing "trends impacting the P&C insurance economy," Business Wire reports.
The report was created based on “more than $100 billion in transactions processed annually through CCC’s solutions by its 30,000 customers,” and “more than 280 million claims-related transactions, 50 billion driving miles of driving data, and millions of bodily injury and personal injury protection (PIP)/medical payments (MedPay) casualty claims.”
The report outlines how the industry is experiencing a lot of technological advancement while also going through economic difficulties related to “inflation, supply chain constraints, and labor shortages.”
With the shortages in labor and supplies, it poses a challenge for the industry as a whole to keep up.
Jason Verlen, CCC’s vice president of product marketing, said that economic issues are “putting pressure on an industry that is simultaneously managing through major advancements in vehicle technology, including the growing popularity of advanced driver safety systems (ADAS) and EVs.”
Verlen cites this as the reason for the report’s subtitle of “The Era of Experience:” to reflect an industry that is faced with a wave of change and doing its best to work through it.
