WESTLAKE, TX, July 19, 2021
Acquisition will extend Solera's global leadership in data and technology-enabled claims management solutions
WESTLAKE, TX, July 19, 2021 /PRNewswire/ -- Solera Holdings, Inc. ("Solera"), a global leader in risk and asset management data and software solutions for the insurance and automotive industries, today announced that it has entered an agreement to acquire ENData Pty Ltd ("ENData"), a Brisbane, Australia-based insurance technology provider. ENData's data-driven property repairs and contents replacement solutions simplify and automate the fulfillment of insurance claims. This acquisition will further solidify Solera's position as the leading provider of data and technology-enabled solutions that power the automation of property claims management for Property and Casualty insurers.
Through its intelligent platform, ENData partners with insurers to efficiently and dynamically allocate workstreams to participants in the property claims process. ENData delivers unmatched outcomes in terms of cost, quality, reduced workloads, and speed of claim resolution.
"The global increase in property insurance claims combined with a lack of standardization creates significant opportunity for Solera's AI-driven technology to reduce variability, accelerate business outcomes and improve the customer experience," said Darko Dejanovic, Chief Executive Officer of Solera. "ENData will further expand Solera's position in Australia, and globally, as the leading provider of innovative solutions across the entire insurance claims ecosystem."
Together with ENData, Solera now provides claims and supply chain management solutions to all of the top five general insurance companies operating in Australia, with data and technology solutions that are further extensible around the world.
"We are excited that ENData will be joining Solera, the undisputed global leader in insurance claims, allowing the newly-combined team the opportunity to continue to drive innovation and growth," said Mike Lee, Chief Executive Officer of ENData. "ENData's customers will benefit from Solera's ability to scale their solutions to meet insurers' expanding needs across both property and auto claims."
The acquisition is expected to close during the third quarter of calendar year 2021, subject to customary closing conditions and regulatory approvals.
Solera is a global leader in risk and asset management data and software solutions, empowering companies across the automotive and insurance ecosystem with trusted solutions that adhere to the highest standards of data privacy, security, and integrity to support connectivity across the vehicle and property value chain. Solera's solutions bring together customers, insurers, and suppliers, empowering smarter decision-making through service, software, enriched data, proprietary algorithms, and machine learning that deliver insight and ensure customers' vehicles and property are optimally maintained and expertly repaired. The company is active in over 90 countries across six continents, processing more than 300 million digital transactions annually for over 235,000 customers and partners. By drawing on the market-leading solution capabilities and business process best practices from its technologies around the world, Solera provides unsurpassed scale and strength with superior performance while delivering innovation to move the industry forward.
ENData is a Brisbane-based insurance technology company that provides claims and supply chain management solutions to the general insurance industry in Australia. ENData provides configured web-based systems that facilitate and simplify the allocation and management of insurance property repairs and contents replacement through the consolidation and automation of tasks in the insurance claims process. The ENData ecosystem includes builders, restorers, contents suppliers, loss adjusters, and claim specialists to deliver clients a single source of truth and the best user experience available.