A Manchester-based litigation finance firm has warned that law firms and funders risk being left behind if they fail to adopt modern technology, as it announces a major investment in AI and digital platforms to support increasingly complex funding decisions.
IQuote Limited says it has ploughed more than £10 million into technology and automation to strengthen how it assesses cases, as well as supporting law firms with operational processes.
This, the firm says, has significantly reduced the time required of law firms to complete standard recurring tasks through improved operational processes.
The Manchester headquartered company has said combining capital with AI and digital tools enables law firms to handle higher-value and more complex cases than traditional funding models allow.
The company’s technology suite includes Rowan.AI, a platform that automates client intake and case triage, and Verimetrics, which uses AI to verify identities and streamline onboarding.
Other systems manage multi-channel communications and provide dashboards to monitor case progress and client data.
Craig Cornick, Founder and CEO of IQuote Limited, said the firm sees technology as essential to the future of legal finance.
“For years, legal funding was seen purely as capital provision,” he said. “Now, tools that improve efficiency and insight are equally important. Firms and funders that fail to embrace technology, risk falling behind.
“AI and automation allow firms to make better funding decisions, operate more efficiently, and fund cases they might otherwise have had to decline.”
IQuote has supported a wide range of law firms, including in group actions and complex consumer claims, many of which are expected to result in over a billion pounds in client redress.
The firm says its funding has enabled High Court and multi-party cases that would otherwise have been difficult for law firms to take on, which will help to unlock significant recoveries for clients.
IQuote has also expanded internationally, opening a technology office in Dubai to access global AI and data expertise, while increasing UK staff across compliance, risk, and technology roles.
Mr Cornick added:
“Technology is playing an increasingly central role in legal funding, with tools for risk assessment, case management, and client engagement helping firms reduce operational overheads and manage higher-value matters. Funders that ignore such tools may struggle to compete with tech-enabled rivals.
“I’ve spent nearly 20 years in this industry, and there’s very little I haven’t seen, especially when it comes to oversight, governance and risk. That experience is what pushed me to pivot toward technology, so the business can not only keep pace, but lead from the front of where the industry is heading.
“Technology is now part of how legal finance works. Firms that embed it into their processes are likely to be more efficient, resilient, and able to take on the most complex cases.
“As law firms face rising costs and regulatory pressures, IQuote’s approach highlights how funders themselves are evolving, by investing in AI and digital platforms to make funding decisions more efficient and tackle increasingly complex cases.”
Mr Cornick concluded: “It’s no longer enough to provide capital alone, funders must combine insight, efficiency, and innovation to support law firms in a rapidly changing legal landscape.
As we look toward our next growth market in the US, we see the technology we built from real-world operational experience as a key driver of our expansion across the pond.”
