Tuesday, September 26, 2017

Solera invests US$5m to support China’s auto insurance market

Solera Holdings, a provider of risk and asset management software and services to the automotive and property marketplace, is investing US$5m to support the rapidly growing Chinese automobile insurance market.

Solera is set to officially open a Beijing research facility through the Solera Technology Center (STC).

The facility is designed to collect and analyse critical automotive data that advances vehicle safety and improves insurance claims efficiency.

The STC was created as a joint venture in 2011 between Solera and global insurer MAPFRE.

A company statement said STC seeks to modernise the insurance ecosystems of growing and emerging countries with data-based science, predictive software, and technology-focused education and training for the P&C industry.

Solera’s founder, chairman and CEO Tony Aquila (pictured) said the STC is the first to make a multi-million dollar investment to build an advanced vehicle research centre in China to help modernise the country’s car insurance industry.

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