Industry trends report explores shifts in vehicle technology, personal ownership, and driving and their impact on automakers, insurers, and collision repairers
Chicago, IL (Mar. 12, 2019) – CCC Information Services Inc. has announced the availability of its 2019 Crash Course report, a data-driven look at the business drivers and technology trends impacting the automotive industry. In the report – titled RETHINK – CCC Industry Analyst Susanna Gotsch explores how the auto industry is reimagining and transforming itself to address fundamental shifts in vehicle technology, car ownership, and consumer demand for modern, self-directed experiences. Crash Course draws from a rich variety of resources and data, including nearly 200 million claims-related transactions, 50 billion miles worth of driving data, and more than 20 years of injury data processed using solutions offered by CCC and its affiliates. CCC is the leading Software as a Service provider to the automotive, insurance, and collision repair industries.
“Ride-sharing, ride-hailing, and vehicle autonomy are setting forth a new paradigm for personal transportation,” said Gotsch. “Layer in the growing prominence of mobile technology, AI, telematics, and connected cars, and you get an industry that is advancing even further and faster than ever before. Long-accepted tenets or established truths like ‘I own my car, I drive my car, and I call my insurer to file a claim on my car’ are being challenged, causing every player in the automotive industry to rethink their business, their value, and their products and services. This year’s report combines data big and small to help readers understand where the market is going and how to think about operating in our new world.”
Key themes covered in 2019 Crash Course include:
- Car ownership – As ride-sharing options grow and ADAS-to-autonomous vehicles mature, the one-vehicle to one-person model may be phasing out, causing the lines between key players in the vehicle lifecycle to blur.
- Driving – While new technologies will forever alter the role of drivers, humans will remain involved and their experience with the car, the insurer, or a repairer – in the event of an accident – will need to meet new expectations for service, which is likely mobile-first.
- Car insurance – Increased vehicle technology and consumer demand for speed and convenience are combining to create a more complex insurance process, from underwriting to claims and repair management.
- Accidents – ADAS-equipped vehicles are altering accident and injury frequency and severity in expected and unexpected ways. For insurers and automakers, the minutes following an accident are key moments of truth for their brand and their commitment to drivers.
- Repairs – More sophisticated vehicles are creating a constant need for repairers to have access to tooling, training, data, and parts to ensure quality, timely repairs.
In addition to these macro trends and topics, 2019 Crash Course also includes industry-level detail on new and used vehicle market dynamics, claims frequency, total loss and repair trends, parts utilization, and much more.
CCC, together with its affiliates, provides cross-industry solutions to support the vehicle lifecycle. Founded in 1980, CCC’s solutions and big data insights are delivered through the CCC ONE™ platform to a vibrant network of 350+ insurance companies, 24,000+ repair facilities, OEMs, hundreds of parts suppliers, and dozens of third-party data and service providers. Annually, over 24 million estimates and 16 million repairs are processed on CCC’s products and services, and CCC also provides access to car-related services for millions of consumers via carwise.com. Additionally, Auto Injury Solutions Inc. – a CCC company – provides customizable, end-to-end, casualty solutions to auto insurers for the handling of first and third-party claims. The collective set of CCC’s solutions inform decision-making, enhance productivity, and help customers deliver faster and better experiences for end consumers. Learn more about CCC at cccis.com.
SOURCE: CCC Information Services Inc.Tags: Autonomous Vehicles, CCC, report, ridesharing