Solera Holdings Strengths, Domain Expertise, and Key Differentiators
Solera has been studying the practical application of AI and machine learning in regard to vehicle damage assessment through guided image capture. This technology utilizes AI to accurately identify vehicle damage and automate an initial estimate. The company’s proprietary solutions combine advanced photo analytics and next-generation mobile claims technology, supported by a robust database composed of global data assets.
Through the power of data, Solera revolutionized the insurance claims processing industry by bringing transparency, efficiency, and connectivity to a once fragmented process. By creating an innovative risk and asset management platform, Solera is uniquely positioned to serve this need.
Solera Holdings Recent Developments
In March 2021, announced the global rollout of their state-of-the-art Artificial Intelligence (AI) solution, Qapter, to automotive repair and bodyshops in Europe and North America. Customers using Qapter will have the ability to empower non-skilled damage appraisers to create estimates in under three minutes. The AI-based estimating system will help repair shops to shorten key-to-key times, manage operating costs and deliver a better repair experience for customers.
German biometrics company BioID and Dutch identity provider Digidentity, part of Solera Holdings, Inc., collaborated to offer a completely automated identity proofing process to the British government. Offering remote identity verification for GOV.UK Verify, Digidentity enables the British public to access a wide range of governmental services online.
In January 2018, SuperVision, comprehensive fleet safety, and performance management product line from Explore Information Services, a Solera Holdings company launched a License Monitor solution. License Monitor is the first fleet monitoring service to offer coverage in all Canadian provinces and territories.
Solera Holdings Mergers and Acquisitions (M&A) Activities
In June 2021, Solera Holdings, Inc. (“Solera”) has completed its acquisitions of Omnitracs, DealerSocket and eDriving.
In February 2019 Solera has acquired in4mo Oy, a Nordic leading provider of SaaS-based software and services to the property structure insurance and repair professional marketplaces. This transaction will accelerate the delivery of next-generation Digital Home applications for Solera's customers and property owners. With the acquisition of in4mo, Solera will add yet another component to Solera's expanding capabilities in the digital protection of all assets.
At the end of 2018 Solera completed the acquisition of CESVI (Center for Experimentation and Road Safety) Brasil by the two entities joint venture, Solera Technology Centre GmbH. CESVI Brasil is a leading automotive research and experimentation center in Brasil, focused on providing insight, safety guidelines and transparency, including training for vehicle repair facilities and their technicians, insurers, original equipment manufacturers, and governmental entities. STC adds CESVI Brasil to its growing operations on three continents, focused on modernizing the insurance and vehicle repair ecosystems with data-based science, predictive software, and technology-focused education and training.
Solera Holdings Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Solera Holdings applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Solera Holdings and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Solera customers.
Solera Holdings Overview
Ownership: - x
Number of Employees: 6000
Functional Markets: ERP Services and Operations,
Solera Holdings Key Enterprise and Cloud Applications
Solera Holdings Revenues, $M:
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* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Solera Holdings Revenue Breakdown By Type, $M:
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Solera Holdings Enterprise Applications Revenues By Functional Markets, $M:
Solera Holdings Enterprise Applications Revenues By Verticals, $M:
Solera Holdings Revenues By Region, $M
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Solera Holdings Direct vs Indirect sales
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Solera Holdings Customers - Breakdown by Geo, Size, Vertical and Product
No. of Solera Holdings Customers: 250000
No. of Solera Holdings Enterprise Applications Customers: x
No. of Solera Holdings Cloud Customers: x
No. of Solera Holdings Cloud Subscribers: x
Solera has 250,000 customers across over 85 countries Its customers include more than Solera's customers include over 900 automobile insurance companies, 33,000 collision repair facilities, 7,000 independent assessors and 3,000 automotive recyclers.
Solera Holdings Market Opportunities, M&A and Geo Expansions
In February 2021, Solera has released a ground-breaking update to its Artificial Intelligence (AI)-powered, end-to-end automotive claims platform, Qapter. The release is driven by a new approach to Machine Learning, that delivers 40% faster damage detection (in under 2 seconds) and a more intuitive and easy-to-use system, for a faster, accurate car repair estimate.
In June 2020, Solera launched the next generation of Qapter, the company’s innovative automotive claims workflow solution driven by artificial intelligence. Solera’s patent pending AI-based technology will provide the industry’s only globally available end-to-end solution for full digitalization of the modern claims workflow. Solera has made strategic investment into core machine-learning capabilities that will radically transform the claims workflow process.
Solera acquired RedCap, a mobility and logistics platform that enables seamless vehicle and customer movements in and around dealerships, focusing on improving sales and service experiences for consumers, while optimizing operational effectiveness for dealers. The acquisition comes after taking ownership of Colimbra Holding. It shows the company's commitment to intelligent data management and identity protection for the industries it serves. Just 6 months before the company acquired Digidentity and Autodata in January 2017.
Solera Holdings Risks and Challenges
Its core insurance apps business is being threatened by a growing number of Cloud stratups.
In September 2019, founder and former CEO Tony Aquila sued Solera Holdings for sllegedly breaching his separation deal. Aquila sued for his vested stock options worth in excess of $100 million. Aquila, through his attorneys, also filed a temporary restraining order and a motion for preliminary injunction to stop Solera from encumbering the Aquila-vested stock options.
Meanwhile, Jeff Tarr has stepped down as Solera's CEO after only six month holding the position. Darko Dejanovic was appointed as a Interim CEO, Dejanovic will continue his role as operating principal and president of Vista Intelligence Group for Vista Equity Partners.
Solera Holdings Ecosystem, Partners, Resellers and SI
Solera expanded its presence into the middle east market, by signing a Memorandum of Understanding to establish a strategic partnership with the Saudi Authority for Accredited Valuers of the Kingdom of Saudi Arabia to launch Solera's Digital Garage platform for the automotive, fleet, property and digital identity ecosystem in Saudi Arabia, underpinning Saudi Vision 2030 to become a leading intercontinental logistics hub.
Solera's division Hollander, a provider of software and data solutions for the automotive recycling industry, signed a five-year extension of its exclusive business partnership with eBay in North America through 2020. This partnership will bolster the continued growth and expansion of the fastest-growing sales channel for recycled auto parts and expand the reach of the recycling industry to consumers worldwide.
Solera Holdings Cloud Infrastructure Insights
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