Fewer cars on the road, increasing accident severity, an uncertain economy—these are just a few of the unprecedented challenges the auto insurance industry has faced in 2020.AutoLiability
Now, third party liability insurers are seeking the best method to adapt to this ever-changing situation.
Let’s take a closer look at some of the trends the third party market has experienced in 2020 and the potential changes you can make in your claims workflow today to better manage in the current environment.
Mitchell analyzed its third party bill review data to identify multiple trends through June of 2020 including claim activity, sites of service, injury types, treatments patterns and more.
When reviewing the trends, first note that third party claims typically have a natural lag time for claim reporting and subsequent bill creation.