According to Martin Ellis, associate director at Alexander Forbes, insurance companies say they want expert assistance on claims handling and proactive advice on risk-management. Ellis decided the solution was to set up an infrastructure where clients could get immediate access to legal personnel and to underwriters. For insurers that use the scheme, Alexander Forbes assesses the risk and a group of lawyers at Kennedys spend five days a week dealing with queries and providing advice to the profession. Nick Kennedy, senior partner at Kennedys, says that solicitors prefer to confer with other solicitors, as opposed to insurers, because they understand the profession. The system is technology driven and has a web-based reporting system so that insurers, brokers and clients can all access claims details on the internet.
Solicitors can even send notifications by email.
Ace Underwriting Agency has entered into a similar joint venture with Hammond Suddards Edge. Again, the law firm will handle, assess and advise on all of the agency's notifications. The difference is that Hammonds will advise a panel of experts rather than do all the work itself. According to Stuart Wright, underwriter at Ace Underwriting Agencies, the joint venture speeds up the service. Wright says that his intention is to cut the cost of handling claims.