As the nation faces uncertainties related to inflation, adversarial mid-term elections, workforce evolution and prescription drug costs, leaders in the property and casualty (P&C) and collision repair markets are seeking applicable information and new solutions to meet the challenges.
To help insurance and automotive executives prepare for the coming year, Enlyte on Nov. 14 issued its 2022 Enlytened Trends Report. The annual publication delivers valuable insights from renowned subject matter experts at Enlyte, the parent company of Mitchell, Genex and Coventry.
In an extensive report covering a wide array of today’s most pressing issues, industry leaders present intelligence and predictions based on data-driven trends in collision and casualty markets.
“Whether it’s workforce changes, inflation, supply chains or politics, each new challenge to our industry comes with an opportunity for growth and improvement for the people we serve,” said Alex Sun, CEO of Enlyte. “Be it impacts of automation or electrification, social inflation or social determinants of health, election results or drug price transparency, our subject matter experts are taking a closer look at the trends that shape our industry’s decision-making today, offering strategies to help them navigate whatever comes next.”
Using a future-focused approach, Enlytened ’22 authors deliver a thorough assessment of problems the industry has faced in the past few years such as supply chain issues and provider shortages and presents strategies industry leaders can use when tackling difficult issues and meeting future goals.
Enlytened’s nine chapters tackle the issues P&C and collision repair leaders care about most. Among these are:
Managing social inflation in a talent crisis: There’s another type of inflation converging with workforce challenges---a trend in rising claims costs due to increased litigation settlements, larger jury awards, growing anti-corporate bias and aggressive tactics used by plaintiff attorneys.
Separating fact from fiction in claims automation: The industry is just beginning to reconcile initial expectations with the current state of touchless claims. Subject matter experts explain where we are today and what’s next for estimate automation.
Increasing drug price transparency: Current and future legislative and regulatory activity could impact how pharmacy benefit managers practice, directly impacting workers’ comp. Here’s what to look for.
Addressing the impact of workplace violence: Incidents of violence continue to be top of mind for employers and remain one of the leading causes of occupational injuries. Enlyte subject matter experts offer approaches to managing traumatic stress within the organization.
Growing adoption of EVs and impact on collision claims: With EV adoption at a tipping point, Enlyte authors reveal what insurers and collision repairers should know about EVs and the impact on claims and repair processes and costs.
Changing face of politics: The mid-term election didn’t produce a “red wave” as many pundits predicted. However, it has yielded a new crop of legislators to state capitals across the U.S. Enlyte regulatory experts offer insight on how these newbies could affect future comp and auto physical damage legislation.
Solving the mystery of return-to-work delays: When a workplace injury occurs, much focus is placed on healing the affected body part, but return-to-work specialists say those who follow this antiquated approach are missing a key component to quick recovery.
Click here to read the full edition.
Source: Enlyte
