Taqeem and Solera Launch Strategic Partnership to Introduce Digital Technologies for the Automotive, Fleet, Property and Digital Identity Ecosystem in the Kingdom of Saudi Arabia

WESTLAKE, Texas and RIYADH, Saudi Arabia, Oct. 9, 2018 /PRNewswire/ -- Solera Holdings, Inc. ("Solera") and The Saudi Authority for Accredited Valuers ("Taqeem") of the Kingdom of Saudi Arabia have signed a Memorandum of Understanding to establish a strategic partnership to launch Solera's Digital Garage platform for the automotive, fleet, property and digital identity ecosystem in Saudi Arabia, underpinning Saudi Vision 2030 to become a leading intercontinental logistics hub.

The initial scope of the partnership shall establish an accredited damage calculation standard, a salvage auction ecosystem and an accredited vehicle valuation methodology for insurance underwriting and the used vehicle market.

The partnership will also assess establishing and operating a state-of-the-art training and research center in Saudi Arabia to support Taqeem's goal of professionalizing and modernizing the auto claims and repair industry to enhance the societal goals of increasing road safety, economic activity and participation. The training and research center would leverage the know-how from Solera's advanced global network of automotive research centers, known as CESVI LIV, to train technicians and certify skilled automotive professionals and workshops, as well as educate the insurance claims and vehicle repair industries in Saudi Arabia.

Eng. Hani Dahhan, Deputy Secretary General, stated that one of Taqeem's objectives is to develop the valuation profession and raise the level of its practitioners professionally and technically. "We will work through this strategic partnership to establish the first automotive research center in the MENA region, which will be a scientific and professional hub for all specialists in the field. Taqeem will also provide specialized training courses in automotive damage assessment and repair through the center. Solera is the global leader in developing automated solutions for the automotive industry and is the best partner to help establish trust and professionalism in valuation reports."

"Solera and Taqeem plan to shape the future of the digital mobility landscape in Saudi Arabia with the introduction of the Digital Garage platform and IVAS technology to transform the way people enjoy mobility," said Tony Aquila, founder, Chairman and CEO of Solera. "This partnership accelerates Solera's global mission to address all aspects of the mobility ecosystem with cognitive, data-powered and industrial blockchain-secured solutions."