San Diego, CA – Mitchell International, a provider of technology, connectivity and information solutions to the Property & Casualty (P&C) insurance industry and their supply chain partners, recently released its Industry Trends Report (ITR) for the third quarter of 2016.
In this edition, Alex Sun, Mitchell’s President and CEO, discusses prominent technology and trends that are currently shaping the world around us and impacting the P&C industry. Additionally, experts provide an in-depth look at the findings in Mitchell’s Collision Parts Price Index and share the top qualities of an effective business workflow solution.
Celebrating 70 Years of Empowering Better Outcomes
In honor of the company’s 70th anniversary, Sun looks ahead at key technology and social trends impacting both insurers and collision repairers. Overarching trends that touch many dimensions of the insurance industry include technology transformation, machine learning and digital consumer engagement. In addition to speaking to these industry-wide trends, Sun also weighs in on the trends specifically impacting the auto casualty, workers’ compensation and auto physical damage industries.
The Casualty Edition
As no two payors are the same, the business workflow solutions they utilize shouldn’t be either. Shahin Hatamian, Vice President, Product Management and Strategy at Mitchell, emphasizes the need for insurers and third party administrators to hone in on tailored workflow solutions that suit their individualized business needs. Despite the priorities and rules unique to each business, Hatamian shares five qualities of an effective business solution workflow that users can benefit from.
This edition of the ITR includes two additional features from Mitchell’s industry experts. Greg Gaughan, Vice President and General Manager of Out of Network Solutions and Joshua Dickerson, Director of Product Management of Out of Network Solutions, analyze traditional bill review procedures and explain how specialty bill review can help insurers achieve better results. Norman Tyrrell, Director of Product Management, and Jackie Payne, Vice President of Medical Management Services, discuss the current state of third party claims and a few recommended methods to better contain the associated costs.
First published in April 2001, Mitchell’s ITR now reaches more than 33,000 collision and casualty industry professionals and provides meaningful visibility into data-driven trends in the P&C market.
The complete report is available here: Mitchell Q3 2016 Industry Trends Report, Casualty Edition