Solera Holdings, Inc. , the leading global provider of software and services to the automobile insurance claims processing industry, today announced that it has acquired 100% of the outstanding shares (the "Acquisition") of HyperQuest, Inc. ("HyperQuest").
HyperQuest is a provider of proprietary, web-based subrogation solutions and disruptive software tools that lower processing costs and provide objectivity to both subrogation claims and out-of-network claims. By replacing paper files with an actionable data file and rules-based workflow, HyperQuest automates the manually intensive processes typical of these claim types in addition to increasing claims accuracy and accelerating claims resolution. HyperQuest's out-of-network claims solutions allow an insured to choose any repair shop, thereby enabling insurers to promote a self-service collision repair shop network.
"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, Solera's Founder, Chairman and Chief Executive Officer. "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."
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