Mitchell International, a leading provider of technology, connectivity
and information solutions to the Property & Casualty (P&C) Claims and
Collision Repair industries, today released its Industry
Trends Report (ITR) for the second quarter of 2019. In this
quarter’s report, Mitchell executive experts share insights on achieving
humane automation, avoiding “decision fatigue” in claims management, and
the impact of weather on auto-related claims.
Humane Automation: Technology That Puts People First
As industries continue to discover how artificial intelligence and other
types of advanced automation can transform their businesses, it is
critical to ensure that people remain at the center of technological
innovation.
In his article, “Property
& Casualty in the Age of Humane Automation,” Mitchell President
and CEO Alex Sun notes, “As companies add artificial intelligence and
other advanced technologies to their workflows, we must maintain a focus
on the benefits to people – both employees and customers. The
efficiencies and accuracy enabled by advanced automation should
complement human abilities in the workplace and provide humans more time
to focus on high-value tasks and complex decision-making.”
Across the enterprise, artificial intelligence will give more control
over the processes that today are done by humans. Vital functions will
be executed more rapidly, and data for decisions will be available
faster. When more routine tasks are automated, employees can focus on
issues of strategic significance that require more nuanced thinking. At
the same time, insights provided through artificial intelligence will
present actionable information that humans can use to make better
decisions and move claims along faster and more effectively.
Other articles by Alex Sun include 5G:
What High-Flying Predictions Mean for the Property & Casualty and
Collision Repair Industries and How
Intelligent Automation Is Changing the Nature of Work in Insurance,
Collision Repair, and Beyond
The Casualty Edition: Why User Experience Matters: Streamlining
Claims Decisions
In the Casualty
edition of the report, Shahin Hatamian, Senior Vice President,
Product Development, identifies the dangers of “decision fatigue” among
insurance claims professionals and how an improved user experience can
support them as they make critical decisions around claims.
In “The
Power of User Experience: How to Simplify the Claims Decision-Making
Process,” he notes that technology services can be leveraged to
present the adjuster with information that is already sorted to show
what is important for his or her next step. Key findings are more
actionable than random pieces of information. Adding technology into the
claim’s workflow can help improve adjusters’ experiences and give them
the right information at the right time to simplify the process of
deciding the next step.
Having information available through a single portal is another
technology-driven improvement that can help the adjuster focus on
actionable information in one location, saving time and brain power from
having to retrieve information from multiple programs in different
locales. Mitchell’s previously reported research shows that users
working from a single page provides efficiencies that can potentially
lead to significant time savings.
Finally, integrating systems and data – for example, by integrating
utilization review and bill review data to make it clear at a glance if
treatments should be approved – also saves time and reduces decision
overload.
Other articles in the Casualty edition include: Five
Guidelines for Provider Data Management and Six
Questions to Ask When Evaluating a Medical Management Software Solution.
The Auto Physical Damage Edition: What Weather Patterns Say about
Auto Collision-Related Claims
The dramatic increases in rainfall and severe weather events are
impacting the severity and frequency of auto damage claims, according to
a correlation of Mitchell claims data with weather patterns. In the Auto
Physical Damage edition of the report, Ryan Mandell, Director of
Claims Performance for Mitchell’s Auto Physical Damage unit, notes that
auto claims tend to follow a seasonal pattern that often parallels
weather events in “Changes
in Weather Patterns and Claims Impact.” For example, the percentage
of non-drivable repairable vehicles typically spikes during months with
colder temperatures and higher levels of precipitation. The percentage
of total losses also increases accordingly with non-drivable repairable
vehicles.
April showers bring May car repairs: if precipitation levels are higher
than average in a certain area, it is likely that the area will
experience more claims volumes and higher average severity. Most of the
U.S. is set to experience more rainfall than is typical in the next
three months. Insurance carriers may use these predictions of abnormal
rainfall to set reserves accordingly. Forward thinking carriers may also
choose to provide updates (either through regular communications or
targeted alerts) to their customers that inform them of the potential
risks of driving during periods of inclement weather to help bring
awareness to driver safety, and thus potentially reduce overall claims.
Other articles in the Casualty edition include: Safety
Rules and Public Sentiment Impede Self-Driving Cars, Average
Length of Rental for Repairable Vehicles, and Current
Used Vehicle Market Conditions.
About the Industry Trends Report
Now in its 18th year, Mitchell’s ITR 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 at www.mpower.mitchell.com/industry-trends-reports/.
For further collision repair and property casualty industry updates and
perspectives, follow Mitchell on Twitter @Mitchell_Intl,
@MitchellClaims, @MitchellRepair, @MitchellPBM and on LinkedIn.
About Mitchell International
Headquartered in San Diego, California, Mitchell International, Inc.
delivers smart technology solutions that simplify and accelerate claims
handling, repair processes and pharmacy transactions, 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 connect its customers in ways that enable tens of
millions of electronic transactions to be processed each month for more
than 300 insurance providers, over 65,000 pharmacies and 30,000
collision repair facilities, as well as countless other Property &
Casualty industry supply partners across the Americas and Europe. For
more information, please visit www.Mitchell.com.
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