Solera is a software supplier in the automotive and insurance sector. Solera's mission today is 'to be at the 80% of the intelligence to help customers manage the risk of collision, mechanical or maintenance repair and service'. Solera provides solutions for general automotive and insurance claims information in the automotive industry.
Solera combined existing automotive data with advanced analysis techniques and used the results to improve their data and to create more effective claims. Solera's solutions are provided by a variety of applications.
All Solera customers must be able to rely on Solera's high safety standards. However, there is no simple conclusion available because all applications have different application controls.
We analyzed in detail the information about each security risk in each application, focusing on uniformity in these risks and aligning the control framework on business risks for each risk. Solera was required to report, in accordance with ISAE 3000 | SOC2, to the government. We started implementing the Risklane ControlReports standard and developed a standard approach for Solera which was more efficient and professional than the existing standard.
We are currently applying statistical and machine learning techniques to model which controls are effective, more efficient, or redundant. By using hierarchical clustering, we group similar risks together and have used our analysis to create an effective control framework providing Solera with a basis for more efficient control.
We have helped Solera to quantify which controls are key to maximizing security, and therefore measure how to invest in those controls that are effective in generating success at a lower cost and with fewer business disruptions. Armed with deeper insights into its risks, Solera is now better equipped to better manage risk and report accordingly to customers. Improving both user experience and cost control.