Solera Holdings, a provider of software and services to the automobile insurance claims processing industry, has completed purchase of HyperQuest.
The acquisition is expected to further strengthen the company’s claim solutions offering across the US.
Solera founder, chairman and chief executive officer Tony Aquila said HyperQuest’s highly differentiated service will expand the company’s services reach in the US, in addition to driving consumer satisfaction by enabling insurance companies, assessors and collision repair shops to seamlessly process out-of-network claims, irrespective of the estimating platform being used.
"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," Aquila added.
HyperQuest is a Chicago based provider of proprietary, web-based subrogation solutions and disruptive software tools that are capable of reducing processing costs and offering objectivity to both subrogation claims and out-of-network claims.
The company automates the manually intensive claims processes by replacing paper files with an actionable data file and rules-based workflow, apart from enhancing claims accuracy and accelerating claims resolution.