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A Hard Collision with Profitability: The Impact of Current U.S. Auto Insurance Trends

Recorded May 9, 2023

Webinar Sponsored By:

Last year was a "hard market" for many U.S. auto insurers. Fueled by record levels of inflation, low vehicle sales and increased levels of claims severity, many insurers struggled with profitability. The latest annual Auto Trends Report from LexisNexis Risk Solutions examines key industry trends that shaped the market in 2022. This panel of industry experts explores how insights from last year can impact business decisions today.

Highlights include:

• Miles driven and violations returned to near pre-pandemic levels. 
• Super speeding and distracted driving violations contributed to a rise in accident and bodily injury severity. 
• Low car inventory levels affected insurance shopping events in the first half of the year
• As policy rates rose in the latter half of the year, shopping and switching increased dramatically

Panelists include:

• Adam Pichon, SVP & GM, US Auto Insurance and Claims, LexisNexis Risk Solutions
• Tanner Sheehan, VP & GM, US Claims, LexisNexis Risk Solutions

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