WESTLAKE, Texas, Feb. 21, 2019 /PRNewswire/ -- Solera Holdings, Inc. ("Solera", "we" or "our"), a global leader in intelligent data and software as a service (SaaS) to manage and secure the automotive, light and heavy truck fleet, home and identity ecosystems, will host a groundbreaking for its research and training center, CESVI LIV Center of North America (CESVI LIV NA), on February 21, 2019.
The groundbreaking ceremony will take place at 15580 Highway 114, Justin, Texas at 12:00 p.m. Central Standard Time. Attendees will learn about the development, mission and strategy of CESVI LIV NA from Chris Mullen, Executive Director of CESVI LIV NA, and Tony Aquila, founder, Chairman and CEO of Solera.
Focused on providing factual, credible and documented research, CESVI LIV NA will curate data on reparability, diagnostics and procedures. The center will also disseminate this research throughout training and deliver expert consultancy on advanced technology trends.
Research will span the automotive insurance, collision repair, vehicle manufacturer and vehicle owner industries. CESVI LIV NA will provide insight and deliver tools to reduce repair costs within the North American claims environment. Additionally, CESVI LIV NA will integrate OEM repair procedures into consultation and training that promotes best practices in vehicle service, maintenance and repair.
"This center will add value to the automotive insurance industry. Our research, consultation, technology and training will provide data and insights into the most efficient and effective repair processes; which will then support better residual values and create more cost-efficient automotive repairs ensuring safe vehicles get back on the road," said Chris Mullen, Executive Director of CESVI LIV NA.
With the United States Bureau of Labor Statistics reporting that an average of 76,000 mechanics will be needed each year between 2016 and 2026, the center also addresses the acute shortage of skilled automotive technicians. Once completed, the research-to-action facility, believed to be the first of its kind in North America, will enable mechanics, collision technicians, and assessors of all skill levels, from entry-level to master, to earn additional certifications and gain hands-on training for real-world scenarios on the sophisticated vehicles on the road today.
"Combining research and training makes this center the first of its kind in North America," continued Mullen. "When technicians, students and other interested parties enroll in CESVI LIV NA, they will be able to participate in industry-leading training that is influencing industry standards through research-driven courses that are continuously being updated and evaluated based on the latest trends."
CESVI is a network of independent research and training centers available in Europe, Asia and Latin America that are dedicated to improving performance in a holistic approach for all stakeholders addressing many of the 54 points of a vehicle's lifecycle. With the help from Solera and over 30 years of success, CESVI brings the best global practices fully customized for the North American market through CESVI LIV NA.
Solera was founded by Tony Aquila with the mission to digitalize and empower mobility transactions across the critical 54 and 250 lifecycle touchpoints of a car, truck and fleet, delivering true transparency and knowledge to all stakeholders. Today, Solera's leading digital technologies manage and protect life's most important assets: our cars, trucks, homes and digital identities. The company process more than 300 million digital transactions annually for approximately 235,000 partners and customers in over 90 countries. For more information, please visit www.solera.com.
Cautions about Forward-Looking Statements
This press release contains forward-looking statements, including statements about the anticipated activities of the CESVI LIV NA facility, including but not limited to, providing, data, insight, training and tools to reduce repair costs within the North American claims environment; integrating OEM repair procedures into consultation and training to promote best practices; supporting better residual values and creating more cost-efficient automotive repairs; enabling collision repair stakeholders to earn additional certifications and gain hands-on training; and providing value and efficiencies to the vehicle collision and vehicle service, maintenance and repair industries. 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 and CESVI LIV NA's business, including, without limitation: the failure to realize the expected benefits of the CESVI LIV NA research and training center; continued adoption of CESVI LIV NA's and the Solera group's products and services; effects of competition on product and service offerings and pricing on CESVI LIV NA's business and the Solera group's business; our ability to obtain additional financing as necessary to support our business or operations; and rapid technology changes in our and CESVI LIV NA's industry. 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.