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From artificial intelligence to advanced driver assistance systems, technology is transforming the Property & Casualty insurance and collision repair industries. Stay updated on the latest ÌÇÐÄÉÙÅ® and ÌÇÐÄÉÙÅ® news and business trends.
Decrease in Used Electric Vehicle Prices Coincides with an Increase in Total Loss Claims
ÌÇÐÄÉÙÅ® today released its Q1 2024 trends report: Plugged-In: EV Collision Insights. This quarter’s report provides an update on EV total loss frequency, which has risen since late last year as the price of used EVs has fallen. In the U.S. and Canada, EV total loss rates were 9.93% and 7.48% respectively—an increase of approximately 8% from Q4 2023 and 30% from Q3 2023 in both regions.
Latest ÌÇÐÄÉÙÅ® Data Shows Continued Increase in Electric Vehicle Collision Claims
ÌÇÐÄÉÙÅ® today announced the publication of its latest trends report: Plugged-In: EV Collision Insights. This issue provides a year-over-year analysis of EV claims volume, which increased in 2023 by more than 40% in the U.S. and Canada.
Classic Collision Licenses ÌÇÐÄÉÙÅ® Cloud Estimating for Use at All Locations
ÌÇÐÄÉÙÅ® and Classic Collision, LLC, one of the top four largest MSOs in the nation, today announced that they have signed a multi-year agreement. The enterprise licensing agreement gives all current and future Classic Collision locations access to ÌÇÐÄÉÙÅ® Cloud Estimating with Integrated Repair Procedures as well as the company’s Paintless Dent Repair (PDR) calculator.
ÌÇÐÄÉÙÅ® Reports a Lower Total Loss Rate for Electric Vehicles
ÌÇÐÄÉÙÅ® released its latest trends report: Plugged-In: EV Collision Insights. This quarter’s report examines total loss frequency for electric and ICE automobiles. In the U.S. and Canada from Q1 to Q3 2023, the EV total loss rate was 7.25% for models 2020 and newer. Luxury ICE automobiles had a rate of 7.47% versus 8.49% for all ICE vehicles.
Mazda and ÌÇÐÄÉÙÅ® Renew Collision Network Agreement and Introduce Program Enhancements
ÌÇÐÄÉÙÅ® and Mazda North American Operations (MNAO) today announced that they have signed a contract renewal. Under the terms of the contract, ÌÇÐÄÉÙÅ® will continue to serve as program administrator of the Mazda Collision Network in the United States.