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Arc Legal model offers brokers greater revenue opportunity and control.
The Arc Legal team regularly provides media comment on relevant issues. Below is an extract from an article published in the insurance trade publication, Insurance Age, on Arc Legal’s motor legal expenses product which offers brokers greater revenue opportunities.
Richard Finan, director of Arc Legal, said: “The motor legal expenses market is currently serviced by organisations whose overall objective is to generate claims commissions rather than pass them on to the broker. “We believe brokers and insurers are moving toward a model that enables them to source legal and credit hire repair services directly. This gives them greater control over the level of customer service provided to their policyholders and allows them to maximise their earning potential.”
According to Mr Finan, brokers are increasingly looking to provide their own claims notification services. Traditionally, brokers have appointed a company to notify credit hire organisations and law firms of a claim but Arc Legal said it had noticed a growing tendency among brokers to control this aspect of the claim themselves.
One of the first brokers to have used the product is Heath Lambert’s personal lines division. “The transparency of Arc Legal’s model enables us to have greater control of the customer journey, which was a key element for us,” said Gary Threadgill, divisional director at Heath Lambert.
“Fast and effective capture and processing of claims is at the heart of this service but when it is brought together with the transparent approach of our business model, we have a product that delivers strong customer service and maximum broker revenue opportunities,” added Mr Finan.
The full article can be found at www.insuranceage.com