Solera Inc (“Solera”), the leading global provider of vehicle lifecycle management software-as-a-service (SaaS), data, and services, today introduced its new AI-powered digital triage (digital FNOL) and collision repair estimating suites in India.
Qapter ParkPlace
The announcement reiterates Solera’s commitment to advancing digitisation uptake in India, the world’s third-largest auto market[1], with continued introduction of Solera’s technology solutions across insurance claims, vehicle servicing, and repairs.
According to the TechSci Research report[2], Indias Digital Insurance Platform Market is expected to reach USD 165.02 billion by 2024 at a CAGR of over 13% during 2019-2024. Over the years, India has witnessed a remarkable surge in digital adoption among consumers, driven by widespread availability of connectivity and rapid advancement of digital services and solutions across various sectors.
Solera is aiming to tap into this growing market, having driven accelerated growth in recent years via its innovative Qapter platform and integrated technologies. It is now bringing its AI-driven Visual Intelligence (VI) suite to the market to enable fully digital workflows, from triage (including severity determination and vehicle allocation) to repair estimating within seconds.
“In an increasingly digitised society, consumers are focusing on service providers that can seamlessly provide automated, accurate, and efficient services for vehicle claims and repairs. As such, the auto insurance and collision repair industries will need to adopt new technologies to improve and facilitate their services. A touchless claim is no longer an aspiration, it’s an expectation,” said Chris Iacovou, Managing Director, Solera APAC.
Solera’s Guided Image Capture (GIC) and Intelligent Triage will drive the digitisation of severity determination and vehicle allocation via the quality-controlled capture and AI-powered recognition of images.
Solera’s Qapter VI is a global, modular, and flexible repair estimating and assessment platform that leverages AI technologies to provide exponential value to the vehicle claims industry.
Transforming the vehicle claims process into an AI-driven touchless experience, the full range of products including Qapter VI will increase automation and reduce cycle times via:
Intelligent damage detection via Guided Image Capture, reducing the cost of risk inspections
Enabling efficiencies for Insurers and Repairer Estimators via severity determination and automatic initial assessment of vehicle damage
Expediting parts ordering to improve cycle times, reduce parts fraud and CO2 emissions
Improving partial or total loss triage decisions
Accelerating claim resolution and settlements, benefiting both insurers and repairers
“Solera’s vehicle lifecycle management SaaS, data, and suite of services provide a range of innovative solutions that will empower insurers and repairers in India to digitise, upscale, and improve the customer experience of their offerings,” said Mr. Iacovou.
Since 2006, Solera has been transforming the auto insurance industry with its solutions from Audatex. Solera India is headquartered in New Delhi, with offices in other major cities across the country.
About Solera
Solera is the global leader in vehicle lifecycle management software-as-a-service, data, and services. Through four lines of business – vehicle claims, vehicle repairs, vehicle solutions, and fleet solutions – Solera is home to many leading brands in the vehicle lifecycle ecosystem, including Audatex, DealerSocket, Spireon, and others. Solera empowers its customers to succeed in the digital age by providing them with a “one-stop shop” solution that streamlines operations, offers data-driven analytics, and enhances customer engagement, which Solera believes helps customers drive sales, promote customer retention, and improve profit margins. Solera serves over 300,000 global customers and partners in 100+ countries.
For more information, visit www.solera.com.
[1] www.livemint.com/news/india/india-becomes-world-s-3rd-largest-auto-market-report-11673164107467.html
[2] www.expresscomputer.in/guest-blogs/digital-transformation-for-insurance-sector/97916/
