This paper presents an efficient algorithm for the approximation of the rank-one convex hull in the context of nonlinear solid mechanics. It is based on hierarchical rank-one sequences and simultaneously provides first and second derivative information essential for the calculation of mechanical stresses and the computational minimisation of discretised energies. For materials, whose microstructure can be well approximated in terms of laminates and where each laminate stage achieves energetic optimality with respect to the current stage, the approximate envelope coincides with the rank-one convex envelope. Although the proposed method provides only an upper bound for the rank-one convex hull, a careful examination of the resulting constraints shows a decent applicability in mechanical problems. Various aspects of the algorithm are discussed, including the restoration of rotational invariance, microstructure reconstruction, comparisons with other semi-convexification algorithms, and mesh independency. Overall, this paper demonstrates the efficiency of the algorithm for both, well-established mathematical benchmark problems as well as nonconvex isotropic finite-strain continuum damage models in two and three dimensions. Thereby, for the first time, a feasible concurrent numerical relaxation is established for an incremental, dissipative large-strain model with relevant applications in engineering problems.