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."