archiveAnnouncements

Audatex parent company Solera last month announced a study of “tech-savvy” customers found a massive proportion would trust an automated claims experience. Solera said it polled 1,500 “tech-savvy” consumers, a combined 500 bodyshops and dealerships and 500 insurers across the Asia-Pacific, Europe and North America in November-December 2021. The research...

Mitchell on Wednesday announced the photo estimating artificial intelligence software Claim Genius could be available to insurers through Mitchell Intelligent Open Platform. “As a leader in AI-based auto claims technologies, we're dedicated to streamlining the appraisal process and to helping reduce claim processing time, increase carrier profitability and revolutionize the...

CCC on Thursday announced the amount of claims handled inside a manner incorporating deep machine learning grew a lot more than 50 percent in 2021. It said more than five million claims received “a CCC deep learning AI solution.” And the quantity of claims handled using more than one artificial...

A new Texas bill would require auto insurance policies to not only carry appraisal clauses but make the process more cost-effective for consumers trying to use RTA to treat a short-pay. If the right-to-appraisal process produces a total loss or repair cost valuation $1 greater than the insurer’s last offer,...

A sweeping auto insurance reform measure approved by the Texas House Insurance Committee in 2021 is back for that Lone Star State’s 2021 legislative session. House Bill 1131 contains virtually identical language towards the substitute version of HB 1348 the committee reported favorably inside a 6-1 vote. But the 2021...

Progressive earlier this year reported its personal lines profitability rose nearly $1.46 billion this past year despite paying out COVID-19 premium credits, reimbursing higher auto severity, and increasing its advertising spend. The nation’s No. 3 auto insurer, which derives 94 percent of their personal lines revenue from private passenger auto,...

Farmers on Wednesday announced it might by mid-March have upgraded its discount-providing telematics app Signal to hold a “CrashAssist” feature. Upon detecting a possible crash in line with the phone’s sensor data, the new technology will send a push notification towards the driver’s smartphone asking if a collision occurred and...

Allstate recently reported its auto underwriting profit more than doubled last year to a lot more than $3.4 billion, despite having to absorb higher severity and refunds to policyholders. The profitability stemmed at least partly from the 29.1 % decline in gross auto property damage frequency. “Insurance underwriting margins continued...

CCC on Wednesday released its annual “Quick studies,” and while the 2021 data might in some aspects capture a real outlier of a year, collision repairers should still hustle over and download the free industry resource. The metrics and analysis within the document examines key trends in consumer behavior throughout...

The Iowa Collision Repair Association notched up a legislative victory this session using the passage and enactment of the bill raising the harm threshold for a salvage title. “We wrote that bill,” ICRA lobbyist Scott Weiser said Tuesday of Senate File 230, which Republican Gov. Kim Reynolds into law on...