Mitchell’s Musings: Q1 trends report says automated claims handling on the rise

San Diego, California — COVID-19 has sent the automotive claims process digital, with the majority of insurance carriers adopting virtual claims processes in the last year, says Mitchell International’s latest industry trends report. According to Mitchell’s report and data and analytics company LexisNexis Risk Solutions, 95 percent of auto insurance carriers are embracing virtual claims […]

Pace of Progress: AI adoption grows in 2020 for American auto insurers

Chicago, Illinois ⁠— American automotive technology company CCC Information Services is reporting a more than 50 percent year-over-year increase in claims processed using artificial intelligence (AI) and deep learning. The company also reports that more than 5 million unique claims have been processed using a CCC deep learning AI solution, and the number of claims […]

Setting a New Score: Co-operators approved to offer credit score-based rating

Toronto, Ontario – Nova Scotians with good credit are in for a treat if they drive under Co-operators General Insurance, now that the company has announced that credit scores can now be used as a rating factor for auto insurance, following the regulator’s approval. “The company proposed a new rating variable, Insurance Score, based on […]

Congestion Curve: 2020 marks sharp declines in Toronto rush hour 

Toronto, Ontario ⁠— Coronavirus-induced lockdowns caused annual traffic congestion to fall in most countries, including Canada, disrupting long-held traffic patterns like the dreaded morning commute to work, a report released last week showed. Traffic congestion declined sharply on roads in crowded cities like Los Angeles, Toronto, Bengaluru and Mexico City in 2020, said location technology […]

PEI Goes Paperless: Province approves use of electronic proof of auto insurance

Charlottetown, Prince Edward Island – Effective as of December 17, 2020, Prince Edward Island (PEI) drivers have the option to digitally store and present their proof of auto insurance in the form of eSlips. Approved by the Superintendent of Insurance for Prince Edward Island, this move follows Nova Scotia, Ontario, Alberta, Newfoundland and Labrador, Quebec, […]