Brego is delighted to have been shortlisted as a Finalist in the Car Finance Awards 2024. Brego is now a contender for the esteemed Innovation Award in recognition of the advanced AI-driven car valuations technology we have developed to support the car finance industry.
The prestigious Car Finance Awards brings together the UK’s leading dealers, brokers and independent lenders as part of an annual black-tie event for the car finance industry. This year’s winners will be announced during a formal ceremony on 15 May 2024 in Manchester. Hosted by Shard Media Group / Credit Strategy magazine, the awards are described “as a mark of excellence and a beacon of success that boosts credibility.”
Brego is a brand synonymous with innovation, with a clear vision to advance the car finance industry through pioneering technology that brings an impressive new level of accuracy in current and future car valuations to lenders and brokers. Brego’s AI model can predict up to six years of future vehicle valuation data, helping lenders to get a more accurate picture of depreciation and set residual values for balloon payments.
Brego’s technology has been developed from the ground up to provide an advanced, trusted solution for the automotive and car finance industry by a team of talented data scientists and engineers in artificial intelligence. Using Neural Networks, Brego applies a new depth of intelligence to automotive data, and uses a dataset containing hundreds of millions of datapoints, spanning one of the largest collections of car models in the world.
It allows Brego to be a step ahead in the rapidly changing automotive industry, where EVs and new, relatively unknown car brands are becoming prevalent. Brego’s technology with artificial intelligence is helping to overcome the challenges of future vehicle valuations with little or no history at all. Brego can value new and used cars to within 10% accuracy over 85% of the time, to deliver an industry-leading performance.
The business was founded by two tech-savvy brothers, Simon Hunt and Philip Hunt. Simon is a former lead-developer for Goldman Sachs, with a deep experience in computer science, and Philip has worked extensively with artificial intelligence and big data.
CEO and Co-founder, Simon Hunt says: “It’s a real honour to be a finalist for the Innovation Award in this year’s Car Finance Awards. We are committed to advancing the car valuations space through innovative technology that has been specifically developed for the industry, rather than adapting an existing model to fit. We aim to provide the most accurate and most intelligent car valuations service in the industry, supporting car finance providers with a robust and reliable solution that embraces exciting new technologies. I’m delighted to say that we have received excellent feedback from clients about the accuracy of Brego’s data, the intuitive usability of our platform and API, and the level of service we provide.”
Brego looks forward to attending the Car Finance Awards 2024 at The Monastery in Manchester on 15 May, joining finalists across all categories for this special occasion that celebrates the UK’s best dealers, lenders and brokers.
Brego
