Mitchell, a leading provider of technology, connectivity and information solutions to the Property & Casualty (P&C) claims and Collision Repair industries, today released its second quarter Industry Trends Report (ITR) for 2021. In this report, Mitchell executives share trends and predictions on how the tools and innovations seeing faster adoption following the COVID-19 pandemic empower the claims and collision repair industry to weather the future.
As the world heads into a post-pandemic era, the changes it brought to transportation, workers' comp, healthcare and the claims process are driving change at a rate several industries have never seen before. This quarter's report focuses on the increasing pace of innovation, with observations, data and analytics on the role of new technologies, along with expectations of industry leaders on their plans for investment in these technologies to continue to shape their industries.
These insights are collected into two editions: Auto Physical Damage and Casualty.
The Auto Physical Damage Edition: The Shift in Mobility Patterns
In this edition, Ryan Mandell, Director of Claims Performance, shares insights on how the pandemic disrupted original forecasts and altered the future of transportation in "The Shift in Mobility Patterns." He examines the three trends shaping mobility's "next normal," and their promise to have a lasting impact on the collision repair and auto insurance industries.
Also in this edition, Senior Vice President of Global Product Strategy and Artificial Intelligence for Mitchell's Auto Physical Damage division, Olivier Baudoux, shares insights in an article "AI and Its Impact on Automotive Claims." COVID-19 has fast-tracked the adoption of artificial intelligence, bringing "touchless" claims closer, thanks to four trends this article outlines: Shifting methods of inspection, the prevalence of big data, human-machine collaboration and the growth of cloud computing and open ecosystems.
This edition also includes a podcast with Mandell and special guest Jeff Helget, Vice President of Operations at B&R Auto Wrecking, "The Changing World of Automotive Recycling," on how the automotive recycling industry is adapting to growing vehicle complexity and more. It also includes data on the average length of rental for repairable vehicles for Q1, 2021 and current used vehicle market conditions for Q1, 2021.
Click here for the full edition.
The Casualty Edition: Outdated Imaging Equipment: A Problem That Could Impact Care Quality & Claims Loss
This quarter's Casualty Edition features a deep dive into the state of imaging equipment and the potential problems with care quality and claim costs. Guest author Ted Smith, Vice President of Sales for Apricus Specialty Networks, a division of Mitchell | Genex | Coventry, provides insights about the challenges with out-of-date imaging equipment, and the promise of investment in newer machines. "The latest equipment can enable healthcare providers to diagnose and treat patients with greater precision, giving them unprecedented visual and functional information on a patient's condition," says Smith. "At the same time, newer equipment facilitates faster, more intelligent imaging services that support medical decision making, improve outcomes, and boost the economics of imaging departments and facilities."
Additionally, experts from Mitchell, Genex and Coventry weigh in on COVID-19's impact on healthcare and claims and workers' compensation. In addition to insights the state of imaging equipment, these experts provide an update on the latest industry and technology trends related to predictive analytics, telemedicine, pharmacy, and more – including the impact of these trends on care and benefits.
Click here for the full edition.
About the Industry Trends Report
Now in its 20th year, Mitchell's Industry Trends Report reaches more than 20,000 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.
