Insights
Episode 12: Balancing Act: Managing Rising Costs without Compromising Safety
Auto claim costs continue to grow—requiring an even greater focus on expenses. In this episode, Ryan Smith, vice president of claims and salvage operations at Saskatchewan Government Insurance Corporation (SGI), shares how his organization is successfully balancing this cost increase with its commitment to high-quality collision repairs by prioritizing safety, ingenuity and industry collaboration.
Plugged-In: EV Collision Insights Q1 2024
3 MIN READ
In Q1 2024, electric vehicle (EV) repairable claims frequency rose to 2.26% in the United States and 3.41% in Canada, an increase of approximately 40% and 38% respectively over Q1 2023. Tesla price reductions late last year spurred precipitous price drops throughout the EV segment. As a result, price parity between EVs and vehicles with an internal combustion engine (ICE) may be coming faster than previously predicted.