WESTLAKE, Texas, Aug. 13, 2015 /PRNewswire/ --
- Suncorp Group selects Solera's Risk Management Solutions following an extensive trial covering 20,000 auto repairs.
- Calls Solera's software "game-changing," allowing Suncorp to simplify and accelerate the claims process.
- The technology is the first of its kind in the Australian market and will be coupled with Solera's vehicle identification and customer communication services.
Solera Holdings, Inc. (NYSE: SLH), today announced that Suncorp Group Limited ("Suncorp"), which includes a portfolio of leading general insurance brands in Australia and New Zealand, has selected Solera's Risk Management Solutions platform following an extensive trial covering 20,000 auto repairs.
The advanced auto repair software, which is the first of its kind in the Australian market, will allow Suncorp to evolve with the increasingly complex auto industry while managing rising customer expectations.
"This is a game-changing opportunity to simplify our motor claims process and make it even better for our customers," said Leigh Bryan, Suncorp's Head of Motor Claims.
With this new agreement, Solera's damage assessment and claims processing platform will be rolled out across the Suncorp network in Australia, starting in October. In addition to claims processing, Suncorp also selected Solera's vehicle identification and customer communications solutions to improve the end-to-end claims process, making it faster and more transparent.
Solera worked hand-in-hand with Suncorp throughout the trial period to customize the platform to meet the unique needs of the region and integrate seamlessly with Suncorp's Claim Management System. Through rapid innovations, Solera compiled local data to cover 95% of the Australian car parc and built VIN decoding for 88% of the Australian car parc. As a result, Solera's database now includes data on more than 800 models unique to the Australian market.
"It's an honor to partner with Suncorp to bring the most advanced digital technologies to the Australian market," said Tony Aquila, Solera's founder, Chairman and CEO. "Together, we will deliver superior customer engagement throughout the claims process and, ultimately, the broader insurance experience."
Solera is a leading provider of risk and asset management software and services to the automotive and property marketplace, including the global P&C insurance industry. Solera is active in over 75 countries across six continents. The Solera companies include: Audatex in the United States, Canada, and in more than 60 additional countries; HPI, CarweB and CAP Automotive in the United Kingdom; Informex in Belgium and Greece; Sidexa in France; ABZ and Market Scan in the Netherlands; Hollander serving the North American recycling market; AUTOonline providing salvage disposition in a number of European and Latin American countries; IMS providing medical review services; Explore providing data and analytics to United States property and casualty insurers; Identifix, providing solutions for the service, maintenance and repair ("SMR") market; AutoPoint and DMEautomotive, providing data-driven tools to enhance SMR experiences and facilitate customer retention and marketing solutions for the retail automotive industry; and I&S, a provider of software and business management tools, third-party claims administration, first notice of loss and network management services to the U.S. auto and property repair industries, specializing in glass claims. For more information, please refer to the Solera's website at www.solerainc.com.
About Suncorp Group
Suncorp Group's General Insurance business includes Australia's largest insurer by Gross Written Premium and the largest provider of personal injury and Compulsory Third Party insurance. In New Zealand, Suncorp Group is the second largest general insurance company.
Suncorp Group's portfolio of general insurance brands, including AAMI, GIO, Vero and Suncorp Insurance, have built a reputation for innovation, customer service and repair industry support.
Cautions about Forward-Looking Statements
This press release contains forward-looking statements, including statements about: the future provision of Solera products and services to Suncorp, including the expected timing of the rollout of such products and services; and the benefit of Solera products and services to Suncorp and its policyholders. These statements are based on our current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: the failure to deliver Solera products and services to Suncorp; the failure of Suncorp to realize the expected benefits from the Solera products and services; risks associated with the uncertainty in and volatility of global economic conditions; effects of competition on our software and service pricing and our business; rapid technology changes in our industry; risks associated with operating in multiple countries; our reliance on third-party products; and effects of security breaches on our business and reputation. For a discussion of these and other factors that could impact our operations or financial results and cause our results to differ materially from those in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, particularly our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2015. Solera is under no obligation to (and specifically disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE Solera Holdings, Inc.