Historically, "total loss" auto claims would only be 8-12% of the total claim volume processed. Now, total loss claims may comprise 20-25% of the total auto claims processed. (Photo: anekoho/Adobe Stock)
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.
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