CCC Information Services (CCC) reported a more than 50 percent year-over-year increase in claims processed using 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 using two or more of its AI applications has more than […]
NABC Presents Donations in Honor of Award Recipients
As part of the revamped National Auto Body Council (NABC) Awards Program in celebration of its 25th anniversary, the NABC introduced two new awards in place of the previous ones – the NABC President’s Award and the NABC Changing and Saving Lives Award. Along with the trophy and industry recognition, the NABC also announced it […]
Axalta Introduces Spies Hecker Waterborne System, Opens Regional Refinish Training Center in China
Axalta (NYSE:AXTA) announced the launch of its Spies Hecker Waterborne Full System, its latest full-layer waterborne solution for refinish customers in the Chinese market. The announcement was made during the grand opening ceremony on March 3 of its Southern Refinish Training Centre (RTC) in Guangzhou. The new auto refinish coating system brings world-class technology to […]
LexisNexis Risk Solutions Introduces Verified Data Solution to Streamline Total Loss Claims
LexisNexis Risk Solutions announced the development of LexisNexis VINsights that will improve the total loss claims management process by reducing the time it takes to settle a claim. VINsights will deliver the information an adjuster needs in near real-time, including the registered owner name, titled owner name and lienholder data. Lienholder data includes lien payoff […]
Interview: Atul Vohra, Solera
In our video interview, Vohra, regional managing director for Solera, details the results of its consumer, insurer and repairer research on artificial intelligence and claims technology. In February, Solera released results of a study of over 1600 consumer, insurance and repairer respondents on how digital technologies such as artificial intelligence and self-service claims apps are […]
Private Equity Firm American Pacific Group and Gray Eagle Capital Partners Launch Aesop Auto Parts with Wayne Auto Salvage Acquisition
American Pacific Group (APG), a San Francisco-based private equity firm, announced today that, together with Allam Taj and Christoph Ganz of Gray Eagle Capital Partners, it has formed Aesop Auto Parts, a company that will serve as a platform to acquire and grow progressive auto recycling businesses. Simultaneously, Aesop acquired Wayne Auto Salvage, an established […]
Insurance Institute for Highway Safety Partners with Governor’s Highway Safety Association and National Road Safety Foundation to Pilots to Reduce Speeding
After rise in speeding during pandemic, groups launch initiatives to slow drivers down. Three national roadway safety organizations — the Governors Highway Safety Association (GHSA), Insurance Institute for Highway Safety (IIHS) and National Road Safety Foundation (NRSF) — are partnering to fund and evaluate pilot projects by two states to reduce speeding. Maryland and Virginia […]
Service King Supports 844 Teammates During Pandemic Through President’s Fund
When unforeseen, pandemic-related challenges affected Service King Collision’s employees in 2020, the company was eager to show their support for teammates through the collision repair facility operator’s President’s Fund. In 2010, Service King established the President’s Fund, the organization’s very own 501(c)(3) that serves as a resource for team members experiencing an unexpected or unusual […]
Former Microsoft CFO and Investor John Connors Joins Tractable Board
Tractable announced that former Microsoft CFO and Ignition Partners Managing Partner, John Connors, has joined its Board of Directors. Connors brings over 30 years of experience as a builder, leader and advisor of high-growth companies in North America. At Microsoft, he led several worldwide divisions, including finance, information technology, worldwide operations and the enterprise sales […]
GEICO Auto Policies in Force Up Over 4% in 2020
Written premiums down 3% due to coronavirus rebates, collision claims down 23-24%. On February 27, Berkshire Hathaway Inc. reported its fourth quarter and full year earnings, including details about its GEICO subsidiary, the second largest auto insurer in the U.S. According to the company, GEICO’s pre-tax underwriting earnings for 2020 reflected significant declines in losses […]
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