CCC Crash Course: Driving Insight for 2009
Publication’s deep look at ‘Perfect Storm’ provides sharper picture for year ahead
Chicago - April 9, 2009 - Much like the nation’s overall economy, the auto-physical damage industry saw a 2008 filled with change, most notably by a global recession and harsh weather. These factors had a major downstream impact on things like erratic fuel pricing and overall driving habits, helping create a ‘Perfect Storm in 2009,’ the apt subtitle for this year’s edition of CCC Information Services Inc.’s Crash Course. Within the pages of the electronic publication, CCC Lead Analyst Susanna Gotsch provides an in-depth look at a dynamic set of forces unleashed in 2008 that were catalysts for change, and the impact they may have as we move through 2009.
“All of the information we’ve gathered indicates that insurers and repairers will certainly be impacted by the economy’s current recession,” said Gotsch. “Some of the contending factors include lower premiums – an aging vehicle fleet potentially leading to more total losses; and greater industry competition – companies meeting demands for operational excellence or risk survival.”
Gotsch highlights opportunities for companies that can adapt and learn how to change their business models in order to pull ahead of those that simply pull back and wait until growth makes a comeback. In addition, research shows that an evolving consumer demographic is increasingly sensitive to factors such as price and customer service.
“Companies will need to be even more aware of variances among their customer base (by age, demographics, employment situation and geography) than potentially ever before,” added Gotsch. “Using this information to change and grow their business will help companies in this very difficult economic environment.”
For an electronic copy of CCC Crash Course, go to www.cccis.com and click on “Crash Course 2009.”
About CCC Information Services Inc.
CCC brings together what matters most - insights to make the best decisions, connections into the largest auto claims network and superior productivity through an innovative single platform. Founded in 1980, CCC is the nation’s leading provider of advanced software, workflow tools and enabling technologies to the automotive claims and collision repair industries. Its client base includes more than 350 insurance companies and over 20,000 repair facilities. CCC also delivers the most comprehensive, best in class industry insight by leveraging data captured from the millions of transactions processed through its network, and the forward-looking, trusted advisor perspective of its people. You can find out more about CCC Information Services Inc. by visiting the company’s web site at www.cccis.com.
Media Contacts:
CCC Information Services Inc.
John Harris
Corporate Communications
312-229-2693