Solera unveils global circularity consortium for insurers

Solera has launched a new Global Circularity Consortium that aims to align insurers, manufacturers and other transport stakeholders around shared sustainability goals.

The initiative was unveiled on the main stage at Insurtech Insights Asia in Hong Kong. Solera positioned the consortium as a vehicle for collaboration on decarbonisation and circular economy practices across the mobility and insurance sectors.

The consortium seeks to address what Solera describes as systemic fragmentation in how different parts of the transport value chain approach environmental targets. It will bring together manufacturers, insurers, repair networks, recyclers, regulators, academia and consumers around common frameworks and metrics.

Solera said the mobility and insurance industries share broad sustainability ambitions but have operated in isolation. Data often sits in separate silos. Standards vary by market and by organisation. The company said these conditions have held back progress on lowering emissions and improving resource efficiency in vehicle lifecycles.

Jing Liao, Chairwoman of The Solera Foundation and Chief Administrative Officer at Solera, introduced the initiative at the conference.

"This marks a defining moment for sustainable mobility. We're transforming circularity from symbolic ambition into systemic progress by establishing interoperable systems, aligned incentives and standardised metrics that allow sustainability to scale globally."

Four-tier model

Solera described the consortium as a four-tiered ecosystem. The design places global insurance groups at the centre of the model. Insurers sit between vehicle owners, repair networks, manufacturers and salvage or recycling firms, and influence decisions at key points in the vehicle lifecycle.

Under the structure, insurance companies act as orchestrators of economic flows and adoption. Enabler networks and broader industry networks will support the formation of frameworks. Consumers will play a role in adoption and in building trust.

The consortium framework also includes five cross-cutting networks. These cover data, trust, capital, talent and narrative. Solera said these groups will operate across sectors and geographies. They will focus on measurement, reporting and shared learning.

Members will receive access to verified sustainability data. They will also be able to use shared intelligence and collaboration platforms. Solera said this information will reduce perceived risk around investment in lower-carbon solutions and circular models.

The consortium will publish an Annual Circularity Report. The report will track adoption metrics and reported carbon reductions. It will also monitor economic efficiency, social inclusion and transparency on trust.

Industry participation

The launch in Hong Kong included a closed-door roundtable session following the main stage discussion. Senior executives from insurers, automotive recycling and academia attended alongside Solera executives.

Attendees included Annick Jourdenais, Managing Director at LKQ SYNETIQ, and Elena Rasa, Chief Underwriting Officer Retail at AXA Group. Crystal Chen, Independent Director at Generali China, and Victoria Woo, Senior Director at the INSEAD San Francisco Hub, also took part.

Kristoffer Lundberg, Chief Executive of Insurtech Insights, joined the session. Helen Tsui, Senior Vice President for Financial Services and Fintech at InvestHK, represented the Hong Kong investment promotion agency.

Solera said the roundtable aimed to move from shared vision to defined actions. Participants discussed potential unified metrics, data-sharing practices and incentive structures. The group also considered how repair, reuse and recycling practices could change if insurers, manufacturers and recyclers adopt aligned frameworks.

Shift in mindset

Solera framed the consortium as part of a broader shift in how companies in mobility and insurance treat sustainability. It said many organisations still view environmental and social targets as compliance items. The group behind the initiative said linked data and common standards can reposition sustainability as a factor in competitive strategy and risk management.

Liao addressed this theme in a keynote panel at Insurtech Insights Asia. The session set out the argument that sustainability can influence value creation, growth and longer-term competitiveness for firms in insurance and mobility.

The company said the consortium will roll out a series of activities over the next six months. It plans a multi-event narrative across regions. That programme will highlight links between corporate sustainability and social equity.

The group expects the new ecosystem and its reporting framework to guide investment decisions over time. It also expects insurers, repairers and manufacturers to reference the shared standards in product design, claims handling and end-of-life processes for vehicles.