Mitchell Industry Trends Report Auto Physical Damage Edition Explores Alternate Parts Usage - BodyShop Business

Mitchell Industry Trends Report Auto Physical Damage Edition Explores Alternate Parts Usage

New in 2012, all-digital multi-edition format provides insight into P&C industry's most important issues.

Mitchell announced the launch of the new, all-digital Industry Trends Report (ITR). The ITR is Mitchell’s quarterly publication that has highlighted ongoing and emerging industry trends and key performance indicators for auto physical damage collision and casualty industries for more than a decade. The first quarter 2012 ITR delivers 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 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," said Horn. "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?"  
 
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 an 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."


More information:
 
Complete content is available in the latest Industry Trends Report, which may be downloaded by visiting www.mitchell.com.

Follow Mitchell on Twitter @MitchellRepair

You May Also Like

Classic Collision Announces Executive Promotions

Classic Collision has announced the promotion of Alexander Brinkman and Cody Johnson to vice president of mergers and acquisitions.

Classic Collision has announced the promotion of Alexander Brinkman and Cody Johnson to vice president of mergers and acquisitions.

Alexander Brinkman and Cody Johnson have both played major roles in Classic Collision's growth to 212 locations.

Brinkman joined the Classic team in March of 2020 when Classic had 34 locations, and Cody Johnson joined the following year in January of 2021 with 57 locations nationwide. They have both played a major role in Classic's growth to 212 locations today.

CIECA Announces 2023 Board of Trustees Officers

The Collision Industry Electronic Commerce Association announced that its board of trustees has elected new officers for 2023.

ASE Partners with Michael Lewis for IMSA Racing Series

ASE will sponsor International Motor Sports Association driver Michael Lewis for the 2023 season.

Crash Champions Hosts First Responders in Branson, Mo.

Crash Champions recently hosted more than 25 local first responders at its Branson, Mo.. repair center as part of an NABC F.R.E.E. event.

ABRA’s Mark Wahlin Announces Retirement

Mark Wahlin, a former ABRA franchisee and most recently ABRA’s vice president of franchise services and operations, has announced his retirement.

Other Posts

CCC ONE Repair Workflow to Integrate with CDK’s Dealer Management System

The CCC-CDK integration offers dealer-owned collision centers a way to seamlessly manage repairs from inception to billing.

Palm Springs First Responders Learn New Rescue Skills

The Palm Springs Fire Department learned new rescue skills on electric vehicles at a recent NABC F.R.E.E. event.

Midwest Collision Repair Trade Show Set for May 19-20, 2023

Following the huge success of the inaugural Midwest Collision Repair Trade Show last year, the associations hosting the show are doubling the size of the event for 2023.

Crash Champions Acquires Regional MSO European Collision

Crash Champions announced it is continuing its fast start to 2023 with the acquisition of European
Collision.