Solera Holdings, Inc. provides software and services to the automobile insurance claims processing industry. The company also offers products and services that complement or leverage its insurance claims processing software and services. These core extensions include products and services for used vehicle validation, electronic titling, property claims management, fraud detection, salvage yard management, disposition of salvage vehicles, subrogation, and data and analytics used by insurers in the re-underwriting of their insured drivers. Software and Services The company’s software and services include the following general categories: estimating and workflow software, salvage, salvage disposition and recycling software, electronic titling, subrogation solutions, business intelligence and consulting services, vehicle validation, and insurance re-underwriting. The majority of its customers access its software and services through a standard Web browser utilizing a ‘software on demand’ model. Estimating and Workflow Software The company’s core offering is its estimating and workflow software. Its estimating and workflow software helps its customers manage the overall claims process, estimate the cost to repair a damaged vehicle, and calculate the pre-collision fair market value of a vehicle. Key functions of its estimating and workflow software include capturing first notice of loss information; assigning, managing and monitoring claims and claim-related events; accessing and exchanging claims-related information; calculating, submitting, tracking and storing repair and total loss estimates; reviewing, assessing and reporting estimate variations based upon pre-set rules; routing shop estimates for manual review; and scheduling repairs and automating parts ordering. Salvage, Salvage Disposition and Recycling Software The company’s salvage, salvage disposition and recycling software helps automotive recyclers manage their inventories in order to facilitate the location, sale and exchange of vehicle parts for use in the repair of a damaged vehicle. This software helps insurers determine if a vehicle is a total loss and reduce costs associated with total losses. Main functions of its salvage, salvage disposition and recycling software include managing inventory; connecting to collision repair facilities to facilitate the use of recycled or aftermarket parts in the repair of a damaged vehicle; locating vehicle parts by price, year, model and/or geographic area; determining the interchangeability of automobile parts across vehicle models; exchanging vehicle parts with other recyclers; determining vehicle residual values, in combination with subsequent sales and purchase options; optimizing proceeds from the sale of salvage vehicles; preparing invoices and managing accounts receivable; generating management reports; and facilitating the offer and sale of salvage vehicles among buyers and sellers. Business Intelligence and Consulting Services The company’s business intelligence and consulting services help its insurance company’s customers monitor and assess their performance through customized data, reports and analyses. Main elements of its business intelligence and consulting services include analyzing claims amounts and payments; creating customized statistical reports on claims data and activity; measuring its customers’ performance against industry standards; and monitoring key performance indicators, such as alternative parts utilization in the repair process and repair cycle time. Vehicle Insurance Re-Underwriting The company provides property and casualty insurers with driver violation reporting services for a substantial number of their insured drivers in the U.S. This service allows insurance companies to re-assess their risk, and, where appropriate, impose a premium surcharge on insured drivers to reflect such risk. Electronic Titling The company provides a driver information services platform that allows automotive dealerships in the U.S. to streamline operations and improve the customer purchasing experience by assembling and processing the data necessary to electronically register
solera holdings inc (SLH:New York)
7 Village Circle
Westlake, TX 76262
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