Solera has announced that it has entered an agreement to acquire ENData, a Brisbane-based technology provider that offers claims and supply chain management solutions to the general insurance industry in Australia.
According to Solera, ENData’s data-driven property repairs and contents replacement solutions simplify and automate the fulfillment of insurance claims. Through its intelligent platform, ENData partners with insurers to “efficiently and dynamically” allocate workstreams to participants in the property claims process.
“The global increase in property insurance claims, combined with a lack of standardisation, creates significant opportunity for Solera’s AI-driven technology to reduce variability, accelerate business outcomes and improve the customer experience,” said Darko Dejanovic, Chief Executive Officer of Solera. “ENData will further expand Solera’s position in Australia, and globally, as the leading provider of innovative solutions across the entire insurance claims ecosystem.”
Solera said that with ENData, it will provide claims and supply chain management solutions to the top five general insurance companies operating in Australia, with data and technology that are further extensible around the world.
“We are excited that ENData will be joining Solera, the undisputed global leader in insurance claims, allowing the newly-combined team the opportunity to continue to drive innovation and growth,” said Mike Lee, Chief Executive Officer of ENData. “ENData’s customers will benefit from Solera’s ability to scale their solutions to meet insurers’ expanding needs across both property and auto claims.”
The acquisition is expected to close during the third quarter of calendar year 2021, subject to typical closing conditions and regulatory approvals.