CCC Information Services Inc. (CCC) today released Crash Course 2020, a data-driven report covering the business, consumer, and technology trends shaping the automotive, claims, and collision industries. Crash Course 2020 marks the 25th anniversary of the industry-leading report, which this year explores the future of personal transportation including: AI, ADAS, driverless vehicles, data access, digital consumers, and quality repairs. The 173-page report draws insights based on decades of experience from solutions offered by CCC and its affiliates, including processing 200-million claims-related transactions, 50-billion miles of driving data, and casualty data processes.
“CCC’s technology has been connecting the industry for 40 years,” said Susanna Gotsch, director, industry analyst, CCC, and author of Crash Course. “Crash Course provides data-driven insights into the transformational changes the industry is experiencing. Technology like mobile, IoT, and AI have brought dramatic shifts to vehicles and the who, how, why and when of customer engagement. Understanding and streamlining complexities stemming from these new technologies, along with the rising cost of healthcare, data privacy, and climate change is critical to establishing a view of the future of mobility.”
Key themes covered in CCC’s Crash Course 2020 include:
· Personal mobility – Talk of the end of the auto industry as we know it continues, even as automakers produce products of unprecedented diversity in terms of body styles, engine propulsion, safety and comfort features.
· Modern repair capabilities – Today’s vehicles are very different than those manufactured even 10 years ago. Vehicle complexity and industry investment in new repair capabilities are having meaningful impacts on repair cycle time and costs.
· Consumer experiences – Rising repair costs, higher total loss frequency and costs, and longer repair times have added pressure to an industry struggling to keep up with consumer demand to turn a disruptive event into an experience that is satisfying.
· Data-driven decisions – Despite advancements in vehicle design, crash worthiness, and crash avoidance technologies, millions of people in the U.S. are injured in accidents each year. Driving and impact data can power advancements in post-collision safety experiences and insurance casualty claims.
· Next wave technology – Nobody can predict the future, but we can prepare for it. Technologies once considered futuristic are now being utilized broadly, creating a new foundation for innovation and differentiation.
In addition to macro trends and topics, CCC’s Crash Course 2020 trends report also includes industry-level detail on new and used vehicle market dynamics, claims frequency, total loss and repair trends, parts utilization, and much more.
Download the full CCC Crash Course 2020 trends report.
SOURCE: CCC
