New Technology Helps Guide Decision-Making amongst Fading Veteran Expertise
SAN DIEGO – December 11, 2014 – AudaExplore, the US business unit of Solera Holdings, Inc. (NYSE: SLH) and a leading data-driven solution provider to insurance carriers, repairers, dealerships, fleet owners and suppliers, today revealed how the company’s Predictive Analytics Solution, a decision support tool that helps streamline the repair shop business process is also helping to combat the industry’s resource shortage.
For the last decade, more than 21,500 collision repair technicians have left the industry each year. An additional 31,000 technicians have added to this shift by leaving their current employers for another job within the industry1. With such high rates of turnover, technology has become increasingly necessary to help repair professionals manage the steady workflow.
“There is a perfect storm brewing in our industry. Repairers are having trouble attracting new talents at a time when vehicle technology is becoming more and more complex,” said Gordon Henderson, Vice President of Collision Repair Solutions, AudaExplore. “Our goal with the Predictive Analytics Solution isn’t to replace repair professionals, but rather to facilitate a shorter learning curve through intelligence driven assisted learning to help guide their decisions at a time when talent is in higher demand than ever.”
The Predictive Analytics Solution is truly enhanced decision support which is fully integrated with AudaExplore Estimate Check, a real-time, data-driven solution that uses advanced algorithms to accurately recommend the right repair plan, increasing efficiency and productivity. Reducing both the variability and number of touch points in the claims process, opens the door for improved cycle times, profit margins and customer satisfaction rates.
“Ultimately, Predictive Analytics brings benefits to a wide range of shop owners,” explained Gordon. “Whether it’s uncovering missed operations or helping to guide the decisions of less experienced employees, the technology helps provide the most complete repair plan in order to perform a safe and proper repair.”
AudaExplore is continuously improving existing models as well as rapidly releasing new ones in order to provide quick returns. A key feature, the release of which is imminent, is the ability to predict when fenders should be repaired versus replaced. The Predictive Analytics Solution helps to provide the most complete repair plan, reducing settlement times and increasing trust among shops, insurers and the end consumer.
As owners expect greater service throughout the life of their vehicle, AudaExplore helps businesses reimagine the ownership experience through its proven data-driven solutions. By delivering global data, easy-to-use technology and deeper insights into the ownership lifecycle, AudaExplore is a leader in the industry, striving to improve profitability and efficiency among insurance carriers, repairers, dealerships, fleet owners and suppliers. AudaExplore is a business unit of Solera Holdings, Inc. (NYSE: SLH), a leading global provider of risk and asset management software and services to the automotive and property marketplace, including the P&C insurance industry. For more information, visit www.audaexplore.com, or follow us on Twitter at @AudaExplore_.
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1. Collision Repair Education Foundation