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.
The announcement reiterates Solera’s commitment to advancing digitisation uptake in India, the world’s third-largest auto market, with continued introduction of Solera’s technology solutions across insurance claims, vehicle servicing, and repairs.
According to the TechSci Research report, India’s 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.