The auto insurance marketplace is rife with challenges to reversing rising loss ratios in the years following the peak of the COVID-19 pandemic. Some of these challenges include a spike in accidents and fatalities, supply chain issues increasing the costs of repairs, and more intensive attorney involvement in auto accident claims. Though these issues are ultimately out of an auto insurance organization’s control, there is one control lever that can help mitigate loss ratio inflation, and that is a comprehensive, accurate understanding of the insured vehicle.
Our white paper "How Optimizing Vehicle Data Curation Helps Solve Loss Ratio Challenges" dives into the complexity of the modern vehicle and highlights the value of complete vehicle data to help effectively manage loss ratios.
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