Solera to Acquire UK Claims-Related Business from Sherwood Group of Companies

Solera (News - Alert) Holdings, Inc., a global provider of software and services to the automobile insurance claims processing and decision support industries, is all set to acquire United Kingdom claims-related business from the Sherwood Group of Companies.

Solera has already signed an agreement to acquire, through a series of transactions, the claims-related products and related intellectual property (collectively, the "Business") from the Sherwood Group of Companies.

The Business is a provider of innovative exchanges, settlement platforms, and data analytics focused on the insurance industry in the U.K., including car rental billing services and pet insurance claims, a market that has been growing in the double-digits with approximately one million policies in force today.

The Acquisition, which is subject to certain closing conditions, is expected to extend Solera's reach into the household.

“The acquisition expands our platform to serve additional complementary areas of the household. The business will drive transactions from the fast-growing pet insurance market onto our platform in the U.K., which we believe can expand into to other markets,” said Tony Aquila, founder, chairman and chief executive officer, Solera, in a statement.

Aquila said that combining the business car rental billing management and predictive data analytics services with the company’s leading automotive collision claim, service, maintenance & repair and vehicle history platforms will add even more functionality for the company’s customers, and their customers, and will enhance the product offerings in the UK.

Earlier in January, Solera Holdings had announced that one of its subsidiaries completed an acquisition of 100 percent of Autosoft S.r.l.

Autosoft is a leading Italian platform that provides workflow, damage assessment and claims management for insurance companies, vehicle repairers and assessors in Italy. 

Through its workflow platform, Autosoft connects insurers, assessors and repairers, creating efficiencies across the claims processing value chain. Autosoft also has a proprietary electronic parts database and guide marketed under the Kromeda brand.


Edited by Rory J. Thompson