Accidents can happen at any time, anywhere, adding logistical challenges such as off-hours towing, repair shop coordination and creating a need for vehicle storage, all of which contribute to added claims cost and time. (Credit: Photo Spirit/Shutterstock)
As auto insurers face a competitive market and high collision claims severity, a comprehensive accident management (AM) strategy can be a strategic tool used to drive differentiation, increase policyholder satisfaction and reduce loss costs to increase profit margins.
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