Ai on target
BLACKPOOL motor claims specialist Ai Claims Solutions said full-year figures should meet expectations but it admitted it could not predict the impact of worsening recessionary pressures on its business.
In a trading statement ahead of its annual meeting Ai, which manages motor claims for insurance companies, brokers, bodyshops and fleet companies, said trading volumes dropped in the first quarter but have since recovered.
It put this slump down to higher petrol prices which meant fewer people were driving and having accidents. Referrals are now back to expected levels but chairman Steve Broughton said he could not predict how the market will be affected by the recession.
He said: “At this stage it is difficult to predict with certainty the impact of worsening recessionary pressures on the volume of vehicles on the road and on accident frequencies. We remain confident that our full-year result which, as in previous years will be significantly weighted to the second half, will be in line with management expectations.
He said Ai’s business model was resilient and the company had avoided fleet writedowns from falling car prices by continuing to rent.
He added: “We have no refinancing requirements and continue to operate with significant headroom in our banking facilities.”
Ai has also been selected to provide services to three major motor manufacturers with the work due to start in July.
