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Research Outline

Prepared for Dan P. | Delivered September 8, 2019

Automobile Insurance Background and Stats

Goals

Provide statistics and insights on the following topics: automobile claims industry over the last 5-10 years; the cost of cloud computing and servers over the last 5-10 years; the dashboard camera industry over the last 5-10 years; and how human psychology effects memory and recall of an event such as an automobile accident.

Early Findings

Automobile Insurance Stats

  • In 2009, consumers spent an average of $786 on insurance. In 2012, that figure was $812. In 2016, the most recent data available, it was $935.
  • In 2009, 0.89% of consumers with liability insurance made a bodily injury claim; the average value of claims that year was $13,891. The same year, 3.49% of consumers with liability insurance made a physical damage claim; the average value of these claims was $2,869.
  • In 2017, 1.1% of consumers with liability insurance made a bodily injury claim; the average value of claims that year was $15,270. The same year, 4% of consumers with liability insurance made a physical damage claim; the average value of these claims was $3,638.
  • In 2009, 5.48% of consumers with collision insurance coverage made a claim; the average value of these claims was $2,869. The same year, 2.75% of consumers with comprehensive insurance coverage made a claim; the average value of these claims was $1,389.
  • In 2017, 6.15% of consumers with collision insurance coverage made a claim; the average value of these claims was $3,425. The same year, 2.85% of consumers with comprehensive insurance coverage made a claim; the average value of these claims was $1,817.

Psychology and Memory Loss

  • It is common for humans to experience memory loss, or amnesia, after a vehicle accident or other traumatic event. There are multiple causes of amnesia.
  • If an individual receives a head injury during the accident, they may experience post-traumatic amnesia. This type of memory loss prevents them from remembering what happened immediately following the injury or traumatic event.
  •  Anterograde amensia is another common type of amnesia following an accident or other traumatic event. This type of amnesia prevents the individual's short-term memory processing, so they are unable to form new memories and remember recent experiences and information.
  • In retrograde amnesia, the individual is unable to access memories from before the accident or other amnesia-triggering event. This memory loss can span years and can be temporary or permanent.