Accountancy firm MHA MacIntyre Hudson will refer its motor sector clients and network to Cazana for vehicle valuation services.
Cazana uses the latest technology, big data and predictive analytics to process millions of price points each year and deliver real-time, accurate valuations for vehicles of any age, mileage and condition.
It catalogues vehicles through image and description data to build a database of comparative prices so that automotive retailers, insurance companies, lenders and regulators can better understand vehicle pricing.
MHA MacIntyre Hudson’s clients and contacts include dealer groups, as well as those with vehicle leasing interests and their own car fleets. Cazana will facilitate their acquisition, valuation, resale and pricing decisions.
“Cazana is a positive force in vehicle valuations and this is an exciting opportunity for MHA MacIntyre Hudson to bring innovative, game changing solutions to our clients and network. Cazana is backed by a proven leadership team and well-respected investors and advisers from across the motor sector, and its valuation tools have the capacity to produce significant gains for our clients,” said Steve Freeman, partner and national head of motor at MHA MacIntyre Hudson.
The deal follows the UK’s finance and insurance ombudsman’s decision to make use of Cazana’s market insight tool as one of its reference points when determining whether or not an insurer's valuation is reasonable in the case of written-off vehicles.
The platform’s historic pricing index, which was recently bolstered by their acquisition of Europe’s largest classic car community, CarandClassic.co.uk, is already heavily used by insurers of classic and performance vehicles.
Tom Wood, CEO at Cazana (pictured), said: "We're very pleased to partner with MHA Macintyre Hudson - we've been working together for a number of months to improve profitability and stock turn for their automotive retail clients with our award-winning vehicle pricing data. We both recognise the value of partnership in providing a best of breed combined insight and accounting solution to clients. We’re looking forward to working with more of the MHA MacIntyre Hudson client base over the coming years."