Benchmarking Discussion: How Current and Emerging Auto Insurance Trends Will Affect Carrier Results
Rate increases, car shortages, economic concerns and more are keeping a lid on the number of policies in force.
Drivers are only part of the reason, as other issues contribute to rising loss costs.
Medical, labor, parts shortages and other rising costs are combining to drive claims costs upward.
Other types of information can uncover trends that relate to insureds shopping.
Claims frequencies have fallen at double-digit rates in many areas, but claims volume has not dropped as significantly.
