Report shows advanced technology is contributing to costlier repairs, higher claims costs and longer cycle times.
CCC Intelligent Solutions Inc. (CCC) announced it has published its 2024 Crash Course Report, which indicates that increasing vehicle complexity, combined with rising labor costs and shortages, are placing persistent pressure on both insurers and repairers.
New findings show that while vehicles may be safer, more capable of avoiding crashes and more environmentally friendly, advanced technology is contributing to costlier repairs, higher claims costs and longer cycle times. Additional factors, such as scheduling backlogs, have contributed to the 60% increase in the amount of time it takes for vehicles to enter repair shops after estimate completion, compared to pre-pandemic times.
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