Chicago--CCC Information Services Inc. has announced the availability of its 2008 Crash Course, an annual report on the many factors impacting collision repair and total loss costs.
Among the topics addressed in the report is an increase in paid claim frequency last year, the first such increase in nearly a decade. The report also looks at how the increase in specialty substrate materials and the proliferation of electronics and safety features are impacting the collision repair industry.
A full copy of the report, in its 13th year of publication, is available by visiting www.cccis.com.
Additional factors such as rising inflation, gas price increases, and an injection of new vehicle technology had a strong downstream influence on the auto-physical damage (APD) industry in 2007. They contributed to an increase in claims frequency, an increase in average vehicle repair cost, and an invigorated focus on customers' insurance and collision repair experiences.
"The number of new variables impacting the APD industry in 2007 only stands to grow in 2008, starting with a weary consumer likely to pull back on purchasing big-ticket items like a new vehicle," said CCC Analyst Director Susanna Gotsch.
"This economic reluctance usually makes the consumer take a closer look at their expenses, including insurance and collision repair costs," Gotsch said. "As this thinking prevails, it forces the APD industry to look for ways to meet the expectations of the customer, including delivery of quicker cycle time and a positive customer experience while keeping an eye on the bottom line."
The 36-page Crash Course begins with a broad overall look of the national economy, followed by detailed analysis of categories affecting vehicle insurance and collision repair.
The analysis includes five- and 10-year historical comparisons assembled through myriad industry resources.
CCC's data warehouse, which contains vehicle and repair-related information from 100 million estimates processed through its system, is the primary source of trending information included in Crash Course.
CCC also includes third-party research to highlight broader industry trends, providing Crash Course readers with a comprehensive view of the auto claims industry. A midyear report with year-to-date information will be available this fall.








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