Solera to Showcase Accelerated Auto Claims Tech at Insurtech Insights 2023
Solution aims to speed up claims for insurers and customers
LONDON–(BUSINESS WIRE)–Solera, the global leader in vehicle lifecycle management, today announced it is bringing the future of vehicle data-driven touchless claims and risk management to Insurtech Insights Europe, in London on March 1-2.
The company will showcase the world’s only end-to-end vehicle claims and risk management solution that uses the power of AI and visual intelligence (VI) of Qapter VI, e-Driving and Mentor to provide a smoother and more efficient automotive touchless claims journey for fleet and automotive insurers. Its technology is the only one to integrate driver risk management, emergency response, and AI-driven claims management in one integrated platform.
This is helping insurers at a critical time for the industry. According to Solera’s 2022 global Innovation Index, 70% of consumers would switch insurers for a faster digital claims experience, as well as full visibility of the claims process (56%) and fast claim resolution (53%). Consumers also want accuracy, with 65% saying they would choose a repairer using AI to minimize the risk of error in the claims process.
Solera’s technology is helping insurers meet this demand by speeding up the claims process through automated, AI-driven decision making – reducing the average claim estimate time from two hours to 10 minutes and supporting revenue by increasing above 10% the repairability index of the claim managed with AI, according to Solera Data Insights.
Integrating all elements of the claims journey in one platform makes data sharing faster and more accurate, enabling insurers to estimate claim costs using the latest figures at scale and at speed. This is driving a better experience for customers and better customer retention for insurers.
To help insurers harness the latest data intelligence technologies in risk management, Solera is hosting thought leadership sessions during Insurtech Insights at The O2, InterContinental London:
- The omnichannel approach redefining how you view the claims journey: Rethink the claims journey with Solera Vice President of Industry Relations Bill Brower, who will be discussing how an omnichannel approach can transform the customer experience, streamline claims processes, and drive business growth. The talk will be held on March 1 at 9:30 a.m.
- Why does the automated fleet risk and claims management journey need AI and data-driven technologies to be sustainable and ESG compliant? Join our roundtable where we will share how connecting people and technology both in the management of the claims journey and fleet risk not only generates efficiencies and cost savings, but also increases productivity, customer satisfaction and a positive impact on society. This session will be held on March 2 at 10:20 a.m.
Commented Bill Brower, Vice President – Industry Relations, Solera: “Touchless claims aren’t just the future of the insurance industry – they’re the present. Customers expect an Amazon-like experience from any company they interact with. But all too often, insurers are being held back by inaccurate data, subjective damage assessment and slow response times. We need to rethink the claims journey to deliver the experience customers are craving, embracing cutting-edge technologies like AI to improve efficiency and accuracy throughout the process.”
To find out more about Solera’s sessions at Insurtech Insights or to sign up to attend, visit their website or come to Solera’s stand at Booth S9.
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 Identifix, Audatex, DealerSocket, Omnitracs, LoJack, Spireon, eDriving/Mentor, Explore, cap hpi, Autodata, 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.