Expanded footprint delivers even more value to Property & Casualty and collision repair claims handling industries
SAN DIEGO, CA–(February 15, 2012) – Mitchell, a leading provider of technology, connectivity and information solutions to the Property & Casualty claims and Collision Repair industries, today announced the launch of the new, all-digital Industry Trends Report (ITR). The ITR is Mitchell’s well-respected quarterly publication that has highlighted ongoing and emerging industry trends and key performance indicators for auto physical damage collision and casualty industries for over a decade. The first quarter 2012 ITR delivers invaluable insights and perspective to the industry via several editions focused on the data-driven, technology-enabled innovations impacting the insurance claims handling marketplace.
The Auto Physical Damage edition of the ITR features the article, “A Look at What Is Influencing Alternate Parts Usage,” written by Mitchell’s Vice President of Industry Relations, Greg Horn. In this article, Horn analyzes an issue key to the collision repair industry because of its impact on automotive claim severity: What does the future hold for alternate (aftermarket and recycled) and Original Equipment Manufacturer (OEM) vehicle parts sales?
“To determine the possible future direction of parts sales, we analyzed a number of factors influencing parts use, such as new vehicle sales and sales performance for each of the parts types by vehicle model year. Parts use has increased in the aggregate due in large part to the aging U.S. car fleet. Looking to the future, the decrease in new vehicle sales since 2008 will definitely impact both parts demand and supply, but which will be greater, and which parts supply channel mechanism will benefit most, the aftermarket or the OEM?” said Horn.
The inaugural 2012 ITR Casualty Edition Feature Article is “Claims Fraud — Addressing Six Key Challenges to Empower Accelerated Claims Success,” by Mike Mahoney, a Senior Director of Product Marketing with Mitchell. In this article, Mahoney offers a compelling analysis of the fraud challenges facing claims organizations, and outlines a best-practices approach to combating fraud effectively via the appropriate combination of people, process and technological change.
“To address claims fraud, organizations must examine their traditional methods of fraud detection and claims handling and embrace sophisticated data analytic capabilities,” said Mahoney. “Integrating advanced technologies into standard claims handling processes in ‘real time’ across the life of the claim will empower insurers to proactively detect fraud while accelerating prompt, effective and accurate claims handling.”
Complete content is available in the latest Industry Trends Report, which may be downloaded by visiting www.mitchell.com. First published in April 2001, Mitchell’s Industry Trends Report has grown in both content and circulation, now reaching more than 33,000 collision and casualty industry professionals. For continuous collision repair and property casualty industry updates and perspectives, follow Mitchell on Twitter @MitchellClaims and @MitchellRepair.
Mitchell empowers clients to achieve measurably better outcomes. Providing unparalleled breadth of technology, connectivity and information solutions to the Property & Casualty claims and Collision Repair industries, Mitchell is uniquely able to simplify and accelerate the claims management and collision repair processes.
As a leading provider of Property & Casualty claims technology solutions, Mitchell processes over 50 million transactions annually for over 300 insurance companies/claims payers and over 30,000 collision repair facilities throughout North America. Founded in 1946, Mitchell is headquartered in San Diego, California, and has 1,700 employees. The company is privately owned primarily by the Aurora Capital Group, a Los Angeles-based investment group. For more information about Mitchell, visit www.mitchell.com.