Vehicle residual value expert cap hpi is predicting “exponential growth” in the use of data in the automotive industry in the coming years.
In response, the company has doubled the size of its data and product development teams to enable it to handle more data and create applications for customers to access it.
It has also invested in new industry experts for its UK and European valuation services. The move has seen staff numbers leap to 350 from 160, backed by a multi-million-pound investment in technology and systems.
Chris Wright, managing director of cap hpi, said: “As part of the Solera family, cap hpi has an unrivalled view of the automotive supply chain and vehicle ecosystem. We have identified 54 critical transactions, from vehicle acquisition and protection of the asset to maintenance and ultimate replacement; key points where smart data is essential.
"It’s important that data is captured, analysed and provided real-time and joined up so that businesses can manage their vehicle assets efficiently, more profitably and in a way that meets the needs of their customers’ and the motorist.”
The company recently launched an advanced car appraisal tool that integrates valuations into an app, available on iOS and Android tablets.
The app uses the latest vehicle technology to provide repair pricing, specific to each company, in real-time. Accurate, up-to-date vehicle details to auto-populate the appraisal report are provided by entering a registration or vehicle identification number.
As part of its global plans, cap hpi now has teams in France, Slovakia and Germany operating across Europe.
cap hpi operates as part of Solera, a global provider of risk and asset management software and services to the automotive and property marketplace. Solera is active in over 85 countries across six continents.
