The auto insurance industry has weathered its share of storms in recent years. Despite fewer claims in early 2024, carriers still face headwinds when it comes to vehicle complexity and its effect on severity and cycle time.
Following are the four most notable trends to watch in 2025 to help your organization successfully navigate the road ahead.
1. Total Loss Frequency is Rising
For years, new car depreciation began once a vehicle was driven off the lot. In fact, Kelley Blue Book reported that automobiles lost half their purchase price within the first five years. Having