As we look at the world of claims changes for 2021, it was dominated by a few key areas for specific functionality, including virtual inspection, document intake, insured communications and payment digitization. However, as we look ahead to the world of auto claims in 2025, Lexis Nexis' predicts that more than 80% of auto insurance claims will be processed virtually and that total loss claim processing will be reduced from weeks to days.

Making incremental improvements doesn't qualify as transformative, but completely changing the engagement model does. When we think about what we used to do to call a taxi vs. what we do now through our Uber app, or remember going to a Blockbuster early on Friday to make sure we could get a new release before they ran out of copies vs. watching streaming movies on YouTube, those would be considered transformative experiences. If the auto insurance industry can change the experience from calling into a call center, talking to several different people, and waiting 3-6 weeks for resolution to a few clicks on a mobile device, that is a transformative experience.