CCC Information Services Inc. (CCC) has published Crash Course 2021, a new report revealing industry-leading insights on the business and technology trends shaping the P&C insurance economy. The report explains how Covid-19 reshaped the industry with shifts in driving behaviour, attitudes toward personal mobility and the adoption of telematics-enabled usage-based insurance (UBI).
The 130-page report draws insights from decades of experience from processing more than 200-million claims-related transactions and 50-billion miles of driving data.
Key topics covered in Crash Course 2021 include: the rise of tech-enabled DIY customer experiences in insurance and the role of vehicle technology in increasing repair costs.
CCC’s Crash Course 2021 report also includes industry-level detail on new and used vehicle market dynamics, claims frequency, total loss and repair trends, and parts utilisation.
Susanna Gotsch, director, lead analyst, CCC and Crash Course author, says: “CCC has published Crash Course for 26 years and this edition reveals unprecedented change. And though we expect some changes like miles driven to revert to pre-pandemic levels, we project other changes will become the new baseline as photos, mobile, AI, and customer demands have reset expectations and changed how we work.”
CCC is a leading SaaS platform for the multi-trillion-dollar P&C insurance economy powering operations for insurers, repairers, automakers, part suppliers and lenders.