LV= is latest insurer to enter legal services market

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4 January 2016


Savill: significant role for insurers

Savill: significant role for insurers

LV= has become the latest major insurer to enter the legal services market after forming a joint venture with Bristol-based Lyons Davidson.

LV= Legal Services is offering fixed-fee advice for wills, powers of attorney, probate, conveyancing, personal injury and employment law.

The company, which is the UK’s largest friendly society, has over 5.7m customers and offers other financial services, such as investment and retirement products. Among its strategic partners are ASDA and Nationwide Building Society.

Lyons Davidson already has joint venture alternative business structures with Admiral and the AA.

LV= Legal Services offers an online quoting system, where consumers enter their details and in return receive a fixed quote. It does not apply to personal injury or employment, for which consumers have to call to discuss their requirements.

John O’Roarke, managing director at LV= General Insurance, said: “Most of us need expert legal help at some point in our lives and seeking that advice can sometimes be confusing, stressful and expensive. 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.”

Mark Savill, managing director of Lyons Davidson, added: “We look forward to working with LV= in this exciting development that will highlight the significant role that insurers can play in providing easy to understand, affordable customer-facing legal services.”



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Legal Futures Blog

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We all know that nothing in life is certain. As the actor, director and philosopher Clint Eastwood once said: “If you want a guarantee, buy a toaster.” He also said he’d tried being reasonable and didn’t like it. They should teach this kind of philosophy in law school. One thing in life is reasonably certain though. If you’re a law firm worth your salt, at some point you will be approached by another entity (most probably a work introducer) with a whizzy idea to ‘partner’ with you to ‘help you accelerate your growth’. In commercial speak this means, ‘we’d like to keep feeding you work but we’d also like to share in your profits’. The arrangement may be pitched to you as a joint venture – a win-win no less.

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