Property & Casualty Policy Administration Systems Statistics 2024 – Everything You Need to Know

• Failure to yield the right of way, and failure to stay in the proper lane were cited as third and fourth, with a total of about 7,100 drivers, or almost 14 percent of all drivers in fatal crashes exhibiting these behaviors. ^[0]

Property & Casualty Policy Administration Systems Latest Statistics

• Technological advancements will likely stimulate industry revenue growth Insurance Claims Processing Software in the US industry trends. ^[1]
• attach_money Market Size $16bn business Number of Businesses 878 poll Average Industry Profit Margin x.x% Purchase this report or a membership to unlock the average company profit margin for this industry. ^[1]
• 37,561 Biggest companies in the Insurance Claims Processing Software industry in the US pie_chart Accenture PLC Market Share x.x% Purchase this report or a membership to unlock our full summary for this industry. ^[1]
• Providing automated billing solutions 00.5% increase 0. ^[1]
• According to the Insurance Institute for Highway Safety , the federal government has required auto manufacturers to install driver and passenger airbags for frontal protection in all cars since the 1999 model year. ^[0]
• Seatbelts alone reduce the risk of fatal injury to front seat passenger car occupants by 45 percent. ^[0]
• The fatality reducing effectiveness for frontal airbags is 14 percent when no seatbelt is used and 11 percent when a seatbelt is used in conjunction with airbags. ^[0]
• Among passenger vehicle occupants age five and older, seatbelts saved an estimated 14,955 lives in 2017. ^[0]
• In fatal crashes in 2017, about 83 percent of passenger vehicle occupants who were totally ejected from the vehicle were killed. ^[0]
• NHTSA says that when used seat belts reduce the risk of fatal injury to front seat passenger car occupants by 45 percent and the risk of moderateto critical injury by 50 percent. ^[0]
• For light truck occupants, the risk is reduced by 60 percent and 65 percent, respectively. ^[0]
• Child safety seats NHTSA says that in 2017 the lives of an estimated 325 children under the age of five were saved Motorcycle helmets NHTSA estimates that helmets saved the lives of 1,872 motorcyclists in 2017. ^[0]
• Helmets are estimated to be 37 percent effective in preventing fatal injuries to motorcycle riders and 41 percent for motorcycle passengers. ^[0]
• This increase follows the estimated 7.2 percent increase in crash deaths recorded in 2020, see below. ^[0]
• The 2021 first half increase was the highest number for the first six months period since 2006 and the highest half year percentage increase on record. ^[0]
• NHTSA also noted that crash deaths in the second quarter of 2021 were the highest for a second quarter since 1990 an the highest quarterly percent change, 23 percent, in history. ^[0]
• Early data also show that vehicle miles traveled in the first half of 2021 rose about 13.0 percent, compared with the first half of 2020. ^[0]
• The fatality rate for the first half of 2021 increased to 1.34 fatalities per 100 million VMT, up from the estimated rate of 1.28 fatalities per 100 million VMT in the first half of 2020. ^[0]
• A statistical projection of traffic fatalities for 2020 from NHTSA shows that an estimated 38,680 people died in motor vehicle traf­fic crashes, up 7.2 percent from 36,096 fatalities in 2019. ^[0]
• The increase in fatalities occurred despite vehicle miles traveled falling about 13.2 percent in 2020 from a year prior as stayathome orders due to the COVID 19 pandemic were in effect. ^[0]
• The death rate based on mileage soared 24 percent over the prior year, marking the highest annual increase that the NSC has recorded in 96 years. ^[0]
• In addition, 4,795,000 people were injured in 2020 and the estimated cost of deaths, injuries and property damage totaled $474 billion. ^[0]
• According to the National Highway Traffic Safety Administration , 36,096 people died in motor vehicle crashes in , down 2.0 percent from 36,835 in 2018. ^[0]
• The drop in 2019 was the third consecutive annual decline, which occurred despite a 0.9 percent increase from 2018 in vehicle miles traveled. ^[0]
• Fatalities involving SUVs rose 3.4 percent from 2018 and rose slightly in crashes involving large trucks. ^[0]
• According to the National Highway Traffic Safety Administration, vehicle occupants accounted for 66 percent of traffic deaths in 2018. ^[0]
• Motorcycle riders accounted for another 14 percent, pedal cyclists, other nonoccupants and unknown occupants accounted for the remainder. ^[0]
• Number of deaths Number of deaths Alabama 953 930. ^[0]
• In Fatal Motor Vehicle Crashes By Age, 2019 16 to 20 11,992,727 5.2% 3,892 32.5 21 to 24 14,223,656 6.2. ^[0]
• In 2019, 8,746 drivers who were involved in fatal crashes were speeding. ^[0]
• Ranking second was the influence of alcohol, drugs or medication, affecting 5,164 drivers, or 10 percent of all drivers involved in fatal crashes. ^[0]
• Drivers operating a vehicle in a careless manner were the fifth most likely to be involved in a fatal crash. ^[0]
• Percent Driving too fast for conditions or in excess of posted limit or racing 8,746 7.2% Under the influence of alcohol, drugs, or medication 5,64 0. Failure to yield right of way 3,728 7.3 Failure to keep in proper lane. ^[0]
• Seatbelts were in use 90.4 percent of the time nationwide in 2021, statistically unchanged from 90.3 percent in 2020, according to the National Highway Traffic Safety Administration. ^[0]
• Total 13,066 39.3% Collision with fixed object. ^[0]
• Total 9,512 28.6% Collision with object, not fixed Parked motor vehicle 411. ^[0]
• In 2019 August had the most fatal crashes and February had the least, according to data from the National Highway Traffic Safety Administration. ^[0]
• In 2019, about 50 percent of fatal crashes occurred on Friday, Saturday or Sunday, according to NHTSA. ^[0]
• As a percent of all fatalities that occur on those days, the percent that involve alcohol impaired drivers ranges from about 30 to 40 percent. ^[0]
• Year Deaths Percent impaired Deaths Percent impaired. ^[0]
• Deaths Percent impaired Deaths Percent impaired. ^[0]
• Deaths Percent impaired Deaths Percent. ^[0]
• Motor Vehicle Crash Deaths By Month, 2019 January 2,472 7% 11 February 2,200 7 12 March 2,540. ^[0]
• There were 2,895 distraction affected fatal crashes, accounting for 9 percent of all fatal crashes in the nation. ^[0]
• According to the Insurance Institute for Highway Safety, as of December 2020, talking on a hand held cellphone while driving is banned in 24 states and the District of Columbia. ^[0]
• In 2019, 41 percent of drivers were distracted by their phones during daytime driving, according to data from Cambridge Mobile Telematics , a global phone telematics company. ^[0]
• An earlier study found that texting bans were not shown to reduce crash rates, according to a Highway Loss Data Institute 2010 study of collision claims patterns in California, Louisiana, Minnesota and Washington before and after texting bans went into effect. ^[0]
• Teen girls are twice as likely as teen boys to use cell phones and other electronic devices while driving, according to a March, 2012 study by the AAA Foundation for Traffic Safety. ^[0]
• Percent of total fatal crashes 9% 6% 9% Cellphone in use in distraction. ^[0]
• Number of cellphone distractionaffected fatal crashes 387 390 422 Percent of fatal distraction affected crashes 13% 13% 13%. ^[0]
• Distraction was a factor in 9 percent of fatal crashes reported in 2019. ^[0]
• Cellphone use was a factor in 13 percent of all fatal distraction affected crashes, but in only 1.0 percent of the 33,244 fatal crashes reported in 2019. ^[0]
• It showed that from 2010 to 2019, total traffic fatalities grew 9 percent but pedestrian traffic fatalities rose 44 percent, from 4,302 to 6,205. ^[0]
• Pedestrian traffic fatalities were 13 percent of all traffic fatalities in 2010 and by 2019 that proportion grew to 17 percent. ^[0]
• Most fatalities occur in urban areas, 81 percent in 2018. ^[0]
• In 2019, an estimated 32 percent of fatal pedestrian traffic crashes involved a pedestrian with blood alcohol content of 0.08 grams per deciliter or higher, according to the National Highway Traffic Safety Administration. ^[0]
• In 2019, an estimated 13 percent of fatal pedestrian crashes involved a driver with a BAC of 0.08 or higher. ^[0]
• In 2019, NHTSA reported that 6,205 pedestrians were killed in traffic crashes, down 2.7 percent from the 6,374 pedestrians killed in 2018. ^[0]
• A May 2021 report from the Governors Highway Safety Association shows that in 2020, based on preliminary data, pedestrian fatalities rose 4.8 percent to 6,721 from 6,412 in 2019. ^[0]
• These increases occurred despite the COVID19 pandemic related decline in vehicle miles traveled of 13.2 percent in 2020. ^[0]
• The pedestrian fatality rate, measured by one billion vehicle miles traveled, rose to 2.30 from 1.90 in 2019, a 21 percent increase. ^[0]
• Playing with heat source0.3% Totals may not equal 100% due to rounding. ^[2]
• Residential is the leading property type for fire deaths (72.2%), fire injuries (76.4%) and fire dollar loss (46.4%). ^[2]
• There were an estimated 29,705 fire departments (all career 10%; mostly career 8%; mostly volunteer 18%; all volunteer 64%). ^[2]
• There were an estimated 1,115,000 firefighters. ^[2]
• 23,825 firefighters (39%). ^[2]

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Reference

1. iii – https://www.iii.org/fact-statistic/facts-statistics-highway-safety.
2. ibisworld – https://www.ibisworld.com/united-states/market-research-reports/insurance-claims-processing-software-industry/.
3. fema – https://www.usfa.fema.gov/data/statistics/.

How Useful is Property Casualty Policy Administration Systems

One of the main benefits of property casualty policy administration systems is their ability to automate routine tasks and processes. These systems can handle policy issuance, endorsements, renewals, and cancellations with minimal human intervention, saving insurers time and reducing the risk of errors. This automation not only speeds up the policy administration process but also allows insurers to focus on more strategic tasks and customer-facing activities.

Moreover, property casualty policy administration systems are designed to improve accuracy and consistency in policy management. By centralizing policy data and automating workflows, these systems reduce the likelihood of manual errors and inconsistencies that could lead to coverage disputes or claims denials. Insurers can rely on the system to ensure that policies are always up-to-date, compliant with regulations, and aligned with underwriting guidelines.

In addition, property casualty policy administration systems help insurers enhance their overall customer experience. These systems allow insurers to provide self-service options for policyholders, such as online policy management, bill payment, and claims reporting. By offering convenient and digital-friendly services, insurers can boost customer satisfaction and loyalty, attracting and retaining more policyholders in an increasingly competitive market.

Another key advantage of property casualty policy administration systems is their ability to support data analytics and reporting. These systems capture and store a wealth of policy-related data, which insurers can use to gain insights into customer behavior, market trends, and operational performance. By analyzing this data, insurers can make informed decisions, optimize their business processes, and identify opportunities for growth and innovation.

Furthermore, property casualty policy administration systems are essential for insurers looking to modernize their operations and adapt to changing market dynamics. As the insurance industry evolves with advances in technology and shifts in customer expectations, insurers need systems that can keep pace with these changes. Property casualty policy administration systems offer the flexibility and scalability that insurers need to stay competitive and agile in a rapidly evolving marketplace.

Overall, property casualty policy administration systems play a crucial role in helping insurers improve operational efficiency, enhance customer experience, ensure compliance, and drive growth. These systems are no longer just a nice-to-have tool but a necessity for insurers looking to succeed in today’s fast-paced and digitized insurance landscape. By leveraging the capabilities of these systems, insurers can unlock endless possibilities for innovation, differentiation, and long-term success.

In Conclusion

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