Updated: Insurer LV= enters legal services arena promising online fixed fee quotes
LV = has become the latest major insurer to enter the legal services arena via a partnership with Lyons Davidson, promising upfront fixed fees through its online quotes system.
LV = Legal Services will offer consumers advice on a range of legal matters including wills, powers of attorney, probate, conveyancing, personal injury and employment law.
Consumers will be able to enter their details and requirements online, securing an upfront fixed quote for the legal service they require. For anyone requiring more specialised advice on personal injury or employment queries, Lyons Davidson’s advisory teams will be on hand to provide expert support.
Lyons Davidson in 2013 entered into partnership with Admiral resulting in the launch of Admiral Law in May 2013, followed in November of the same year by a partnership with the AA to launch AA Law.
A statement from LV= said today (4 January): “In line with LV=’s focus on providing services to customers in both a clear and transparent manner, LV= Legal Services will provide an easy-to-understand ‘jargon buster’ on its website to ensure users can understand the, often complicated, legal terminology.”
LV = managing director John O’Roarke added: “We want to offer a customer-friendly alternative to people at a price that’s right for them and backed by a brand they can trust. Together with Lyons Davidson, LV= Legal Services will offer a transparent and affordable solution for those with a genuine need for high quality legal service and want the security of knowing what their costs will be upfront.”
Update: Another insurer to enter the legal market is RSA, which in 2015 announced that it had been granted alternative business structure status and had entered into partnership with Parabis. Parabis went into administration at the end of last year and an RSA spokesperson told Legal IT Insider: “We worked closely with Parabis and the buyers of the various business units to execute detailed contingency plans to ensure that our customers continue to receive an excellent level of care and service. As you would expect we work with a range of legal partners.”
Direct Line was also in partnership with Parabis and a spokesperson for DLG Legal Services told Legal IT Insider: “Following the announcement from Parabis Group on the sale of their businesses, we can confirm that all UK Parabis staff who were seconded to DLG Legal Services have transferred to work for us directly. As the UK Parabis staff seconded to DLG Legal Services were already fully dedicated to our business, we do not expect any material differences to operations following this change. It is our priority to continue to provide the same high levels of service that our customers have come to expect from us.”
Interestingly, Lyons Davidson benefited from the breakup of Parabis with the acquisition of the claimant business of Cogent Law as well as Parabis’ joint venture with Saga.