Mitchell announced it has released its second quarter Industry Trends Report (ITR) for 2021. In this report, Mitchell executives share trends and predictions on how the tools and innovations seeing faster adoption following the COVID-19 pandemic empower the claims and collision repair industry to weather the future.
As the world heads into a post-pandemic era, the changes it brought to transportation, workers’ comp, healthcare and the claims process are driving change at a rate several industries have never seen before. This quarter’s report focuses on the increasing pace of innovation, with observations, data and analytics on the role of new technologies, along with expectations of industry leaders on their plans for investment in these technologies to continue to shape their industries.
These insights are collected into two editions: Auto Physical Damage and Casualty.
In the Auto Physical Damage edition, Ryan Mandell, director of Claims Performance, shares insights on how the pandemic disrupted original forecasts and altered the future of transportation in “The Shift in Mobility Patterns.” He examines the three trends shaping mobility’s “next normal,” and their promise to have a lasting impact on the collision repair and auto insurance industries.
Also in this edition, Olivier Baudoux, senior vice president of Global Product Strategy and Artificial Intelligence for Mitchell’s Auto Physical Damage division, shares insights in an article titled, “AI and Its Impact on Automotive Claims.” COVID-19 has fast-tracked the adoption of artificial intelligence, bringing “touchless” claims closer, thanks to four trends this article outlines:
- Shifting methods of inspection
- The prevalence of big data
- Human-machine collaboration
- Growth of cloud computing and open ecosystems
This edition also includes a podcast with Mandell and special guest Jeff Helget, vice president of operations at B&R Auto Wrecking, titled, “The Changing World of Automotive Recycling.” This podcast focuses on how the automotive recycling industry is adapting to growing vehicle complexity and more. It also includes data on the average length of rental for repairable vehicles for Q1 2021 and current used vehicle market conditions for Q1 2021.
Click here for the full edition.
Now in its 20th year, Mitchell’s Industry Trends Report reaches more than 20,000 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.
For more information, visit mitchell.com.