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From the referral fee frying pan into the advertising fire
Thursday, 11 October 2012We kind of all knew it anyway, but just how much money a large insurance company like the Direct Line Group makes from referral fees still took my breath away. As we reported earlier this week, the group received £110m from solicitors in the three and a half years since January 2009. Call it £30m a year and extrapolate (the group’s market share is 19% of motor and 18% of home insurance) and you are looking at around £150m a year going from the pockets of solicitors to insurance companies for the privilege of receiving cases. And that’s before the £100m or so insurers make every year from credit hire referral fees.
Tags: claims management companies, referr
Posted in Blog
Blog
Time to get real: Why authenticity should be at the heart of your marketing
Authenticity is becoming an increasingly important part of marketing. Glossy adverts are no longer enough; these days consumers want to connect with brands on a more personal level.
Why it’s time to embrace health justice partnerships
In July, I completed a second-year evaluation of a health justice project in Australia amid the continuing interest in England and Wales in co-locating health and legal services.
What does the SRA’s consumer protection review mean for law firms?
Practitioners need to be aware of the SRA’s increasing oversight of firms, especially those considering mergers, acquisitions, or private equity investment activity.
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