F&P Expands Strategic Partnership with Solera with Sustainable Estimatics
— Every insurer in Denmark given access to measure Scope 1, 2, and 3 CO2 emissions across the vehicle claims process —
LONDON — October 17, 2024 — (NOTICIAS NEWSWIRE) — Solera, the global leader in vehicle lifecycle management, today announces that F&P, the Danish trade association for insurance companies and pension funds, has extended its strategic partnership with Solera by integrating its Sustainable Estimatics tool into the Autotaks platform.
With over 700,000 insurance claims every year in Denmark running through F&Ps proprietary claims management platform, Autotaks, the integration of Solera’s Sustainable Estimatics API will allow every insurer in the country to track and offset the carbon emissions created through different processes in a vehicle’s life span – including Scope 3. This move sets a new standard in the country and the World, covering 100% of auto claims and aligning with Denmark's leading commitment to sustainability goals to be carbon neutral by 2050.
Due to the EU’s Corporate Sustainability Reporting Directive (CSRD), many countries will require businesses to track and report their emissions by 2025. Sustainable Estimatics is the only auto insurance specific solution to make it possible to analyze Scope 1, 2, and 3 CO2 emissions, allowing organizations to both understand and present credible and verified carbon emission figures. Insurers will also be able to review dashboards to analyze their overall collision repair footprint and benchmark against country specific, and industry-wide data.
“We are pleased to extend our partnership with Solera, integrating its industry-first solution into our Autotaks platform,” said Peder Herbo, director of Autotaks at F&P. “Solera’s solution is ISO-14064-01 accredited, so not only does it provide the wealth of data offered by Solera, but we know its data has been verified as trusted to provide the accuracy we need. It will enable us to set a new standard for measuring the CO2 emissions of auto insurance claims across the entire country, supporting the industry in reducing its carbon footprint and improving efficiency.”
One of the standout features of Solera’s solution is its approved use of data from OEMs to accurately assess vehicle damage after an incident. Through the Autotaks platform, it can now identify the affected parts and adjust it to fit all Danish requirements, such as repricing, giving insurers in the country the greatest increased accuracy. This process ensures a smooth and efficient workflow between insurers, body shops, and end-customers.
Franck Carpentier, International Channel Sales & Operations Director at Solera, stated, "We’re proud to extend our partnership with F&P, a market leader that shares our commitment to shaping a more sustainable automotive industry. Denmark is already at the forefront of countries leading the charge on measuring and reducing carbon emissions, and understanding its role in the claims process will be critical to this. This will not only positively impact the environment, but also help insurers improve efficiency across the entire claims process.
Through this strategic partnership, Solera will further extend the measurement of all CO2 emissions emitted as the result of a repair. This will enrich its global data lake data from Denmark and enhance its unique position to provide the most accurate view of CO2 emissions connected to vehicle repair. We look forward to integrating this technology into even more businesses in future.”
About Solera
Solera is the global leader in vehicle lifecycle management software-as-a-service, data, and services. Through four lines of business – vehicle claims, vehicle repairs, vehicle solutions, and fleet solutions – Solera is home to many leading brands in the vehicle lifecycle ecosystem, including Identifix, Audatex, DealerSocket, Omnitracs, LoJack, Spireon, eDriving/Mentor, Explore, cap hpi, Autodata, and others. Solera empowers its customers to succeed in the digital age by providing them with a “one-stop shop” solution that streamlines operations, offers data-driven analytics, and enhances customer engagement, which Solera believes helps customers drive sales, promote customer retention, and improve profit margins. Solera serves over 280,000 global customers and partners in 120+ countries. For more information, visit www.solera.com.
About F&P
F&P - Insurance & Pension Denmark is the Danish trade association for insurance companies and pension funds. We represent 86 insurance companies and pension funds operating in the Danish market.
The insurance and pension industry in Denmark plays an important role in addressing the challenges of the welfare state by supplementing public welfare services. We help provide security for citizens and businesses across Denmark, while also contributing to economic stability and growth.
F&P Brancheløsninger P/S is a subsidiary of F&P, developing and maintaining IT solutions for the insurance and pension industry, including Autotaks, which is used by all insurance companies in Denmark. We build the Danish platform on products from Solera, with whom we have had a strategic partnership for nearly 30 years.