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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
Legal project management – a mindset lawyers can easily apply
Where budgets are tight, lawyers will be considering what’s in their existing arsenal to still improve productivity. One effective, accessible and cheap tool is legal project management.
How a good customer journey can put your business on the map
Good customer service should be a priority for any business and, if you want to stay ahead of the competition, something that’s constantly under review.
The CAT’s welcome boost for the funding industry
There was welcome guidance from the Competition Appeal Tribunal this week for funded cases looking for certainty following PACCAR, with the renegotiated Sony litigation funding agreement upheld as lawful.
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