MS&AD, the fifth largest property and casualty insurer globally, will use artificial intelligence (AI) technology from Tractable to analyze photos of vehicle damage on auto insurance claims in Japan, speeding up recovery for its policyholders. MS&AD will deploy the AI across both of its subsidiaries, Mitsui Sumitomo Insurance (MSI) and Aioi Nissay Dowa Insurance (ADI), […]
Collision Repair Education Foundation Seeks Sponsors for Student Uniforms
The Collision Repair Education Foundation (CREF) is seeking industry sponsorship for high school and college collision repair school programs nationwide to provide students with work uniforms. Instructors that have received these uniforms for their students in the past have shared that their students feel a new sense of pride and professionalism when wearing them. Collision […]
Retail Vehicle Sales Projected to Rise Above 2019 Levels for Second Consecutive Month
J.D. Power and LMC Automotive also project total new vehicle sales up on selling day adjusted basis. New-vehicle retail sales for the month of October are expected to be up from October 2019, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales for new vehicles are projected to reach 1,187,800 units, […]
LKQ Reports Revenue Down 3.2% in Third Quarter Compared to Last Year
LKQ Corporation (Nasdaq: LKQ) today reported third quarter 2020 revenue was $3.0 billion, down 3.2% year-over-year. The company’s overall parts and services organic revenue declined 4.5% year-over-year during the quarter. The net impact of acquisition and divestitures revenue was -1.0% and foreign exchange rates was 2.1%, for a total parts and services revenue decline of […]
AASP-MN Releases New Video Highlighting Benefits of Membership
AASP-MN is pleased to announce the release of its new membership video. In the words of association members, the video, embedded below, highlights the multitude of benefits that the Alliance provides. Education, access to information, group buying programs, representation at the State Capitol, industry and career promotion and, most importantly, the ability to network and […]
IAA Breaks Ground on New Locations in Colorado, Florida and New Jersey
IAA, Inc. (NYSE: IAA) announced breaking ground for three new branch locations in Colorado Springs, Colo., West Palm Beach, Fla. and Port Murray, N.J. These real estate investments will expand IAA’s footprint count across the three states to 21 locations. The new West Palm Beach and Port Murray locations will also strategically enhance IAA’s ability […]
P/C Insurers Report a 26% Drop in Net Income in First-Half 2020
Industry results show effects of COVID-19 according to Verisk and the APCIA. Net income for the private U.S. property/casualty insurance industry dropped 26% in the first half of 2020, as the effects of COVID-19 began to hurt insurer underwriting results and investment gains, according to Verisk (NASDAQ:VRSK), a leading data analytics provider, and the American […]
myASE Web Portal Now Open for Registration
The National Institute for Automotive Service Excellence (ASE) has launched its new myASE web portal where repair and service professionals can register, schedule tests and view certification information. “We are very pleased to announce that the enhanced myASE web portal is open for business, providing a more intuitive, user-friendly online experience and increasing the level […]
Solera Announces Advancements in Qapter AI Collision Repair Solution in Collaboration with Google Cloud
Solera Holdings, Inc. today announced new updates in its A.I.-based, end-to-end claims management platform, Qapter. Qapter enables collision repair ecosystem participants to accelerate the introduction of A.I. in their workflows, without the risks, costs and limitations inherent in point solutions. A collaboration between Qapter’s A.I. and Google Cloud infrastructure enables the solution to scale globally, […]
ASA Urges Shops to Contact Congress on New COVID-19 Relief Stimulus Package
The Automotive Service Association (ASA) reports that talks continue this week in Congress between Treasury Secretary Steven Mnuchin, Speaker of the House Nancy Pelosi, other Republican congressional leaders, and members of the Trump Administration to finalize another stimulus package for COVID-19 relief. Speaker Pelosi and Secretary Mnuchin have been negotiating for weeks over the size […]
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