Increases in auto claim frequency have been a topic of great interest to all in our industry. Numerous factors such as thos illustrated in Figure 1 have been central to returning automotive claim frequency back to pre-recession levels.
An in-depth look specifically at miles driven data helps us understand why claim frequency continues to rise, but is rising at a slower rate than what we saw in 2014-2016.
The latest data on miles driven in the U.S. shows continued growth in the overall miles driven in the U.S. Year-to-date through July 2017, miles driven in the U.S. are up 1.5 percent from the same period in 2016.
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