Lemonade (NYSE: LMND), the insurance company powered by AI and social impact, today announced the close of its divestiture of Metromile’s Enterprise Business Solutions (EBS) to digital insurance platform, EIS. EBS was Metromile’s SaaS claims automation and fraud detection platform which it licensed to large insurance carriers. The all-cash transaction was completed following the close […]
Aurora and Schneider to Pilot Autonomous Truck Technology to Haul Freight in Texas
Aurora Innovation, Inc. (NASDAQ: AUR), the autonomous vehicle company, and Schneider National, Inc. (NYSE: SNDR), a multimodal provider of transportation services, today announced a multiphase commercial pilot to haul freight for Schneider’s customers with the Aurora Driver, Aurora’s autonomous technology. This pilot reflects an important step for Schneider toward understanding how to incorporate autonomous trucks […]
July New-Vehicle Sales Remains Constrained by Supply Chain Issues
Sales pace is basically limited to the number of vehicles delivered to dealers each month as demand remains strong. Transaction prices and dealer profits remain at record levels. New-vehicle retail sales for July 2022 are expected to decline when compared with July 2021, according to a joint forecast from J.D. Power and LMC Automotive. Retail […]
Consumer Sentiment Slightly Up Over June
Consumers adjust to inflation as labor market expectations worsen. Consumer sentiment was essentially unchanged from June, when it had reached an all-time low for the survey, according to the University of Michigan Surveys of Consumers. Most components of the index were little changed, though buying conditions for durables adjusted upwards, primarily due to perceptions of […]
Randy Termeer Named President of Property and Casualty Insurance at USAA
USAA announced that Randy Termeer has been named President, Property and Casualty Insurance. Termeer joined USAA in 2017 as Senior Vice President and General Manager of Auto Insurance. Most recently, he led USAA’s acquisition of Noblr, launched Small Business Insurance and the SafePilot program. Termeer brings more than 20 years of industry experience to the […]
SCRS Announces KECO Donation to Collision Repair Schools in Montana and Illinois
During its April 2022 Open Board Meeting, the Society of Collision Repair Specialists (SCRS) announced a collaboration with KECO Body Repair Products to gift a tool and training package to one collision industry educational institution per quarter. Schools are nominated by SCRS Affiliate Associations. The affiliates were encouraged to nominate schools in their market that […]
LKQ Reports Revenue of $3.3 Billion in Second Quarter
Wholesale North America organic revenue for parts and services was 10.7% Overall parts and services organic revenue growth was 3.8% overall and 4.2% on a per day basis. LKQ Corporation (NASDAQ:LKQ) today reported revenue for the second quarter of 2022 was $3.3 billion, a decrease of 2.7% as compared to $3.4 billion in the second […]
CARSTAR Adds Collision Repair Center to Network in Georgia
CARSTAR announced the opening of CARSTAR Car Crafters, a 14,000 square foot facility located at 80 Scenic Drive in Blue Ridge, Ga. Jeff Beavers, owner of CARSTAR Car Crafters, began his career in the collision repair industry at the age of 18. However, he grew up around cars as his father spent his free time […]
Driven Brands Acquires Jack Morris Auto Glass
Driven Brands Holdings Inc. (NASDAQ:DRVN) the acquisition of longstanding Tennessee-based Jack Morris Auto Glass. Family-owned and operated since 1951, Jack Morris Auto Glass grew from one location in Downtown Memphis to 10 facilities serving 90 counties throughout the Mid-South and Middle Tennessee. “To build and sustain a business through multiple generations is no easy feat,” […]
IAA Opens New Hawaii Branch
IAA, Inc. (NYSE:IAA) announced the opening of new, full-service facility in Honolulu, Hawaii. This new location more than triples IAA’s capacity in the state, providing support to meet evolving client needs. IAA’s previous Honolulu location will be retained for overflow use and is also available for critical CAT situations as they arise. “We are thrilled […]
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