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Hagerty has announced a new initiative called Digital Labs to help the company keep pace with online developments. One of the first products launched under this programme is a reworked version of the firm’s Valuation Tools, which lists values for more than 40,000 vehicles.

Kelly Smith, Chief Strategy Officer of Hagerty, said: ‘Hagerty Digital Labs is about business acceleration. We are developing a one-stop shop focused on creating value from innovative ideas in the shortest possible time. We are car lovers and innovators who are intent on advancing the industry through revolutionary technology.’

Hagerty CEO McKeel Hagerty added: ‘As a growth company focusing on many dimensions of the automotive world, innovation and digital product thinking are critical for our future. Digital labs will allow us to innovate faster, attract more talented team members and do more for our members and partners.’