San Diego, Calif. (Aug. 15, 2014) – Repair professionals say digitally-empowered customers are transforming their business, driving the adoption of new technology and forcing them to communicate in new ways, according to a survey by AudaExplore™, the US business unit of Solera Holdings Inc. and a leading data-driven solution provider to insurance carriers, repairers, dealerships, fleet owners and suppliers.
The survey of 135 repair and insurance professionals at the 2014 NACE | CARS Expo & Conference held two weeks ago found that repair professionals see three key “disruptive technologies” as playing a significant role in transforming their businesses: mobile (32 percent), social media (30 percent), and data analytics (30 percent). More than half of respondents (53%) say rising consumer expectations are the primary driver for adopting new technology.
Respondents were also asked to select the most important technology capability to their business. Out of six possible business capabilities, estimating accuracy ranked most important (35 percent). This was closely followed by real-time customer communications (24 percent) and employee productivity (22 percent). Capabilities such as business analytics (12 percent), advanced vehicle identification technology (6 percent), and parts efficiency (4 percent) ranked lowest.
“Thanks to consumer demand, we’re seeing a faster pace of data-driven technology advancements than the industry has seen previously,” said Adam Vasquez, VP Marketing, AudaExplore. “As vehicle and driver data becomes more prevalent, it was vital for us to learn where shop priorities lie. With these insights we’ll be able to consult repairers and insurers on what technologies are best suited for their businesses, which can lead to overhead savings and increased efficiencies.”
The majority (79 percent) of those surveyed reported that their technology is up-to-date, with nearly half (48 percent) describing it as cutting edge. Although it is playing an important role in many other industries, the repair industry has yet to embrace cloud computing, with only nine percent citing it as playing a significant role in transforming their business. When asked about their concerns, nearly half of respondents (47 percent) cited evolving vehicle technology as the most worrisome issue.
“It was not a surprise to learn that shops are worried about evolving vehicle technology. Advancements in aluminum, vehicle connectivity and anti-collision technologies are forcing the repair industry to adapt and converge offerings at an increased pace,” continued Vasquez. “These changes can cost businesses both a significant amount of time and money. By providing products like the Driver Experience Platform, our goal is to ensure shops and insurers not only have the best knowledge on how to navigate these new changes, but are equipped with the tools to help them manage them seamlessly.”
This survey is powered by AudaExplore’s more than 40 years of experience and data-driven innovation for collision, glass and mechanical repair customers. Advancements not only reduce costs and shorten cycle times for the repair shop, but also integrate vehicle owner-facing technology that creates surprising visibility into their claims and repair experience.
The survey was conducted at the 2014 NACE | CARS Expo & Conference in Detroit, MI and was based on a five multiple-choice question poll of 135 shop owners, shop employees and insurance professionals conducted between July 31 – August 1, 2014.
As owners expect greater service throughout the life of their vehicle, AudaExplore helps businesses reimagine the ownership experience through its proven data-driven solutions. By delivering global data, easy-to-use technology and deeper insights into the ownership lifecycle, AudaExplore is leading the industry in making insurance carriers, repairers, dealerships, fleet owners and suppliers more competitive and profitable. AudaExplore is a business unit of Solera Holdings, Inc. (NYSE: SLH), the leading claims solutions provider serving the automotive industry. For more information, visit www.audaexplore.com.
Source: Audatex Canada