Keoghs has launched Lauri Sonic AI technology, which enables insurers to automate the processing required for credit hire packs. Keoghs said that in-house testing during the past year had shown its technology was 24% cheaper than the Association of British Insurers’ general terms of agreement and 41% cheaper than the commercial rate.

Gary Herring, partner and head of credit hire at Keoghs, said: “Now is the perfect time to launch Sonic, which we are confident will help insurers tackle the rising cost of motor claims for the benefit of consumers.

“Harnessing AI technology, unrivalled data capability and market leading strategic credit hire expertise, we believe that in Sonic we have developed a unique technology that is not only proven to deliver transformative operational and indemnity spend savings, but will also give insurers a valuable strategic edge.”