Lower Repair Costs for European Auto Insurers
- Topics:
- Insurance
- Source:
- McKinsey & Company
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Overview: As more intense competition limits the ability of European auto insurance companies to raise their premiums, they are seeking to lower their claims payouts, including those for car repairs. The article focuses on the regulatory changes and Internet tools which gives insurers the means to control these expenses by organizing independent shops and suppliers into networks of preferred providers. Insurers can then negotiate discounts by using their enormous buying power as the largest indirect purchasers of car repairs and spare parts.
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