AutoClaims Direct Releases Fall Industry ScoreCard
October 31, 2007 (PRLEAP.COM) Business News
Poway, CA (Oct 31st 2007) AutoClaims Direct the leading claims solutions and services provider to the auto insurance claims industry, today released the coroporation’s 3rd quarter 2007 Industry Scorecard) – AutoClaims Direct’s new report that delivers detailed vehicle repair claims data.The report highlighted several industry trends and provided a sampling of the statistical data which AutoClaims Direct can provide analysis."Our 3rd Quarter Industry ScoreCard really puts a finger on the pulse of collision repair data in the insurance claims arena," said Tara Esquivel, Vice President of AutoClaims Direct.
"Our claims analytics come from all sectors of the claims industry including Direct Repair Shops, Staff Appraisers and Independents. In comparing some of the key metrics we have noted some interesting trends."
Key Trends Include:
• Average appraisal severity when compared to 3rd Quarter 2006 indicates a decrease of $157.68 per file in the same period in 2007.
• 24.25% of all vehicles were deemed at total loss which is nearly on par with a year ago where the average was 24.1%.
• Aftermarket part usage saw an increase of 4.2% in 2007 with a 15.77% utilization rate.
• Average age of all loss vehicle is currently 7 years. 3rd Quarter 2006 the age was just over 8.5 years.
• Body labor percentage decreased 1.36% of the average estimate but overall body labor rates in dollars increased nationally by $1.45 per hour
A complete report can be obtained by contacting AutoClaims Direct Inc. The ScoreCard is the new standard in auto claims collision repair analytics. The report will be released each quarter. Clients who utilize AutoClaims Direct have the ability to track, forecast and review trend reports of their specific company in real time, 24/7.
About AutoClaims Direct Inc.
AutoClaims Direct is the leading claims solution provider and auto appraisal firm that provides the insurance industry with a complete claims management service and auto appraisal company. AutoClaims Direct's clients are insurance companies, fleet management companies and third party administrators. AutoClaims Direct's revolutionary "DirectLink" application streamlines the claims handling process, rapidly reducing cycle times and average loss paid. The corporation handles auto appraisals, desk audits and lease returns.