Solera Acquires HyperQuest
Feb. 1, 2013—Solera Holdings Inc., a provider of software services for the automobile insurance claims processing industry, has acquired HyperQuest Inc., the company announced Friday.
Terms of the transaction were not disclosed.
HyperQuest is a provider of Web-based solutions and software tools that lower processing costs and provide objectivity for both subrogation and out-of-network insurance claims. HyperQuest automates manually intensive automobile claims processes by replacing paper files with an actionable data file and rules-based workflow.
Solera said HyperQuest’s software tools will allow for more accurate and efficient claims processes. The company’s out-of-network claims solutions allow claimants to choose any repair shop, and enable insurers to promote self-service collision repair shop networks.
"HyperQuest's highly differentiated services will extend the reach of our services in the U.S. and drive consumer satisfaction by allowing insurance companies, assessors and collision repair shops to seamlessly process out-of-network claims, regardless of the estimating platform being used," said Tony Aquila, founder, chairman and CEO of Solera. "The acquisition demonstrates our ongoing commitment to leveraging the power of our global platform to invest in diversifying technologies that strengthen our core and deliver differentiated, high-ROI products and services."