Assessing the increasing severity and frequency of auto claims (Video)
Claims expert Angela Guitar assesses the rising costs of auto claims and settlements, and how insurers can protect themselves.
Distracted driving claimed nearly 3,500 lives in 2017, and with the rise of automated technology and cell phone usage, there seems to be no end in sight to combating this prevalent and deadly problem on American roads.
In a recent article, Angela Guitar, Head of Global Excess Casualty Claims at AXA XL, explains that cases that previously settled for relatively small amounts are now in some instances resolving for two to three times those sums. She breaks down how an increase in distracted driving is creating more severe auto claims, and how auto claim payouts are becoming more expensive and more frequent.
Watch the video above, in which Angela elaborates on rising trends in auto claims and how insurers can better protect themselves.
Read Angela Guitar’s full article on trends in the severity of auto claims here, and reach her at angela.guitar@xlcatlin.com.