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Texas-based Solera acquires Brisbane's ENData

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Texas-based Solera Holdings has agreed to buy Brisbane-based insurance technology company ENData, providing claims and supply chain management solutions to the top five general insurers operating in Australia.

Solera CEO Darko Dejanovic says a 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”.

"ENData will further expand Solera's position in Australia, and globally, as the leading provider of innovative solutions across the entire insurance claims ecosystem,” he said.

ENData automates claims tasks and consolidates builders, restorers, contents suppliers, loss adjusters and claim specialists. Its web-based systems facilitate insurance property repairs and contents replacement, partnering with insurers to dynamically allocate workstreams, providing optimal cost, quality, workloads and claim resolution speeds.

Solera is active in over 90 countries, processing digital transactions for over 235,000 customers and partners each year.

ENData CEO Mike Lee says his customers will benefit from Solera's ability to scale their solutions to meet insurers' expanding needs across both property and auto claims.

"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," Mr Lee said.

The acquisition is expected to close in the third quarter.