Vehicle and Fleet Lifecycle Management

The auto industry is about constant innovation and advancement. The next major breakthrough will come from integration of data throughout a vehicle’s lifecycle.

What is vehicle lifecycle management?

Vehicle lifecycle extends from manufacturing, sales, and maintenance to insurance, repairs, and salvage.

Vehicle lifecycle management is a strategy for maximizing vehicle value from manufacturing and acquisition to salvage and disposal. Its benefits include cost minimization, process efficiencies, and greater environmental sustainability. With over 280,000 customers in 120 countries supported by over 7,000 employees, Solera has emerged as a powerful global force propelling the automotive sector to new heights offering artificial intelligence (AI)-driven solutions that connect and optimize every phase of a vehicle’s lifecycle for groundbreaking advancements.

Vehicle Lifecycle Management: The Solera Approach

OEM

A vehicle’s journey begins with original equipment manufacturers, or OEMs, who are responsible for building exceptional cars under equally exceptional brands. OEMs have two main concerns — ensuring that cars are widely repairable when in use and that buyers have quality experiences at point of sale, which occurs at dealerships.

Solera partners with OEMs to collect detailed vehicle schematics, creating a digital twin of the vehicle. Solera’s team of over 500 data specialists refines this raw data, drawn from OEMs’ Electronic Parts Catalogues — covering parts, labor, and refinishing — into the market’s most reliable and precise database through a process of consolidation, standardization, and improvement.

Dealers

Next, dealers step in to carry the brand experience forward through the sales and ownership process. With tools like automated, brand-aligned marketing resources to facilitate a smooth sales process, to enabling life-long relationship management that fosters loyalty, Solera makes it possible for dealers and OEMs to act as one. This includes ongoing maintenance needs, where Solera enables dealers to track service schedules, source parts and manage any recall events alongside OEMs.

>> Explore more – Vehicle Claims Solutions

Insurers

Once a car is sold, it needs to be insured at the point of sale. Here, Solera steps in to facilitate a smooth underwriting process. Whether leveraging digital twin technology for vehicle specs, assessing driver risk based on prior claims or violation data, or identifying any existing damages, Solera enables the ability for insurers to issue new policies swiftly and renew them with precision. We also automate the claims management process and help insurance carriers manage administrative and indemnity charges.

>> Explore more – Vehicle Claims Solutions

Body Repair Shops

Solera is there when accidents occur. OEMs want car owners to have access to widely available, and vetted repair facilities and insurers want solutions that can accurately assess damage, calculate repair costs and enable efficient claims management. Solera’s claims platform does precisely that.

Offering a robust, AI-enabled solution with digital twins for 99% of vehicles in developed markets, Solera automates and streamlines a once painful process for all parties. Insurers and Body repair shops, for example, can access damage assessments digitally, source parts and speed the repair process for consumers in partnership with OEMs.

Mechanical Repair Shops

Vehicles are getting more complex with each generation, and repair shops need readily available tools. Solera supports mechanical repair shops with state-of-the-art solutions to manage daily operations, diagnose everyday maintenance issues and upskill technicians around new and modern innovations with video-based instruction.

Parts Suppliers

When vehicles are repaired, parts are often required. Key to this ecosystem are parts suppliers, who work with repair shops and OEMs to source the new and used parts required for a fix. Because of Solera’s deep presence in the body and mechanical repair shops, parts suppliers can increase sales and efficiency.

>> Explore more – Vehicle Repair Solutions

Resellers

Understanding that most vehicles change hands at least once in their lifecycle, Solera is a critical partner to resellers. Insights and assets like vehicle specifications, ownership history, branded titles and valuations help enable a frictionless remarketing experience. Solera also provides data to help used car sellers keep a pulse on shifting demand, optimize inventory mix and maximize their spread for greatest profit.

Salvage Yards

Our final stop in the vehicle lifecycle is the salvage yard, where Solera streamlines inventory management, and more importantly, identifies parts that can be rescued, reconditioned and reused. Our cutting-edge data infrastructure matches parts from end-of-life vehicles to existing needs, servicing sales and distribution via e-commerce or other channels.

The result: a more sustainable and socially conscious industry.

What is fleet lifecycle management?

Fleet lifecycle management is a strategy for maximizing fleet vehicle value from manufacturing and acquisition to salvage and disposal. Its benefits include cost minimization, process efficiencies, and greater environmental sustainability.

Fleet lifecycle solutions from Solera

Solera has created a more sustainable and seamless reality for the automotive industry itself — one that is data-driven, AI-enabled, and laser focused on progress.

But that’s not where Solera’s journey ends.

Using the same playbook we have perfected for automotive; we ingest and enhance OEM data to create a digital twin of a truck, which are then embedded into a series of solutions like driver and service applications. These serve as the basis for serving the commercial fleet market, assisting in optimizing fleet maintenance operations, streamlining processes, and enhancing accuracy in services.

Solera’s AI-driven platform offers a suite of solutions to enhance fleet operations:

Fleet Management

Offers real-time vehicle tracking, fuel consumption, driver performance, and vehicle health monitoring. It includes predictive analytics for maintenance, boosting operational efficiency and productivity.

Route Optimization

Utilizes advanced algorithms and AI for efficient routing, considering traffic, weather, and other factors. It optimizes fuel use, reduces delivery times, and adapts to changes, enhancing customer satisfaction.

Compliance

Simplifies regulatory adherence with automated reporting and record-keeping, managing driver hours, vehicle maintenance, and documentation, ensuring legal compliance and safety.

Video-Based Safety

Uses AI and machine learning to analyze onboard video feeds, detecting risky behaviors and providing feedback to enhance driver safety and reduce accidents.

Analytics and Reporting

Integrates data from all modules into dashboards and reports for comprehensive operational insights, supporting data-driven decisions to optimize performance and profitability.

Solera is a definitive partner for those seeking to navigate the challenges of the fleet industry with innovative fleet solutions that streamline operations, reduce costs, and enhance customer service.

Explore more – Fleet Solutions

Manage vehicle lifecycle and enhance fleet operations intelligently

At Solera, we are revolutionizing the vehicle lifecycle ecosystem through AI-powered data and software. Our vision is very clear — to transform the way the world manages vehicle lifecycle, making processes more intelligent, efficient, and effective.We are not just responding to industry changes; we are pushing the envelope for our customers, propelling the industry forward with every innovation and every solution we deliver. This is Solera’s global promise for the automotive and fleet sectors realized.And we are just getting started.