One full year after the first stay-at-home orders were issued, Mitchell’s Q1 Industry Trends Report examines the ongoing Effects of COVID-19: Mitchell experts share views, changes and trends from 2020 to better understand what may be around the corner
San Diego, CA (Mar. 9, 2021) – Mitchell, a leading provider of technology, connectivity and information solutions to the Property & Casualty (P&C) claims and Collision Repair industries, today released its first quarter Industry Trends Report for 2021. The report shares important data-driven trends impacting the property and casualty industry, along with expert insights, opinions and guidance that can help businesses navigate this year’s new environment.
A year after the COVID crisis abruptly upended life around the world, workers everywhere are anxiously awaiting a return to “normal.” However, industry experts note the importance of understanding that our future “normal” may be very different, as changes in commuting, investments in virtual medical care, and the emergence of a hybrid workforce begin to take shape.
Throughout this quarter’s report, Mitchell experts share insights important to the industry, including the evolution of claims automation and changes in claims frequency in the wake of COVID-19, the effect of COVID-19 on hospitals and healthcare workers, and a closer look at vaccines.
All of these insights are collected into two editions: Auto Physical Damage and Casualty.
The Auto Physical Damage Edition: The Evolution of Claims Automation
In this edition, Senior Vice President of Global Product Strategy and Artificial Intelligence for Mitchell’s Auto Physical Damage division, Olivier Baudoux, shares his insights about the technological evolution necessary to reach the “Holy Grail of automation: touchless estimates.” While COVID-19 accelerated the pace of digital transformation for the collision repair industry and advancements have led to increased automation, “the need for human oversight and intervention remains necessary,” says Baudoux. “Furthermore, the infrastructure and regulation required to support a completely automated end-to-end system are still evolving.”
This edition also takes a deeper dive into Collision Repair trends from 2020 and what they mean for the future, how Advanced Driver Assistance System calibrations can be a new profit center, and Ryan Mandell, Director of Claims Performance sits down with Paul Prochilo, CEO of Canada’s Simplicity Car Care and Chairman of the Canadian Collision Industry Forum (CCIF), for the latest mPower Collision Podcast.
Click here for the full edition.
The Casualty Edition: 2021 CPT Code Changes – Evaluation and Management Updates
This quarter’s Casualty Edition breaks down CPT Code changes implemented on January 1, 2021 and dives deeper into the AMA’s new evaluation and management updates. Additionally, experts from Mitchell, Genex and Coventry weigh in on the latest trends surrounding COVID-19 and explore how it has affected hospital and healthcare workers. These experts also explain how COVID-19 vaccines may be impacting Workers Compensation and how vaccinating field case managers is helping to keep claims moving forward.
Click here for the full edition.
About the Industry Trends Report
Now in its 20th year, Mitchell’s Industry Trends Report reaches more than 30,000 collision and casualty industry professionals and provides meaningful visibility into data-driven trends in the P&C and collision repair markets. The complete reports are available here.
About Mitchell International
Headquartered in San Diego, California, Mitchell International, Inc. delivers smart technology solutions that simplify and accelerate claims handling and repair processes, driving more accurate, consistent and cost-effective resolutions. Mitchell integrates deep industry expertise into its workflow solutions, providing unparalleled access to data, advanced analytics and decision support tools. Mitchell’s comprehensive solution portfolio and robust SaaS infrastructure connects its customers in ways that enable tens of millions of electronic transactions to be processed each month for more than 300 insurance companies, over 30,000 collision repair facilities and countless other Property & Casualty industry supply partners across the Americas and Europe. For more information, please visit www.mitchell.com.
SOURCE: Mitchell International Inc.Tags: claims, coronavirus, epidemic, Mitchell, Property/Casualty (P&C) insurance, trends