DUAL Asset Underwriting announced as ESTAS Partner for 2021 Forum & Awards
DUAL Asset Underwriting, one of the leading legal indemnity providers for the conveyancing sector, has confirmed its sponsorship of The ESTAS Forum & Awards for 2021.
We talk to Mark Dennis, Head of Online Services at DUAL Asset, about recent developments in their insurance products.
TC: You have recently improved your online service My Legal Indemnity Shop – what have you done?
MD: We added a fourth ‘A’ rated insurer, Accredited Insurance (Europe) Limited, in early September which was the culmination of many months of work during lockdown. This means in the time it would otherwise take you to obtain one quote from a single supplier, you can now get a choice of up to 4 quotes from different competing insurers. Since mid-October, Norwich Union* has increased its participation and will now be offering terms on a much wider range of insurance products available through the service. We have also introduced a new, improved policy wording, which is more concise, clearer and includes extended cover for loss or damage in the event of a claim.
TC: How does My Legal Indemnity Shop help with the Insurance Distribution Directive (IDD)?
MD: Guidance introduced by the SRA and CLC for firms carrying on insurance distribution activities (which includes arrangement of legal indemnity policies) has raised many questions around ‘how do I make certain I comply?’
Whilst the rules may not be entirely clear, any firm relying on a single insurer to provide insurances for its clients, will be limiting their clients’ options, meaning they may potentially expose themselves to an allegation of breaching their obligations under the IDD rules. By using the DUAL Asset portal, firms are putting themselves in a better position to avoid breaching these rules, as they are obtaining a choice of quotes from different competing insurers, so they can determine which best meets the clients’ specific demands and needs.
Lockdown presented us with the opportunity to host a webinar focused on insurance distribution and the IDD – a recording of the webinar can be found via this link https://www.dualasset.com/webinar-insurance-distribution-directive-are-you-compliant/
TC: What did it mean to DUAL Asset to win The ESTAS 2019 Supplier category Gold Award?
MD: It very much endorsed our view that by bringing a totally unique offering to conveyancers, we could help make the process of selecting and ordering legal indemnity policies much better, whilst offering greater choice. As you can see from the above, despite the huge success of My Legal Indemnity Shop, we haven’t rested on our laurels – a fourth insurer has been added, we have an upgraded policy wording and Norwich Union have also extended their offering. Retaining the award in 2021 would be fantastic!
The ESTAS Customer Service Awards are powered by ESTAS own online customer review platform, which measures and highlights conveyancing firms and suppliers delivering excellent service to their clients. All conveyancing firms and suppliers who sign up get a 12-month subscription to use ESTAS review platform which is exclusively for property professionals including agents and brokers. The platform enables firms to create independently verified client reviews that streams them directly to their own websites, as well as social media, and generate Google reviews at the same time.
Founder of The ESTAS Group Simon Brown said:
“We are absolutely delighted to have DUAL Asset Underwriting on board as one of our sponsors again. As we head into 2021, it’s crucial firms keep their brands on the public’s radar. Generating and displaying quality customer reviews now will help firms win business next year.”
The next ESTAS event takes place in London on 11th June. In an industry first it will be the first property industry event for conveyancers, agents and mortgage brokers. Brown explains, “Recent events have really put the relationship between conveyancers, agents and brokers under the microscope. It has become clearer than ever that they need to work together earlier in the buying and selling process to help reduce transaction times for customers. The 2021 ESTAS Forum & Awards will showcase the best property professionals for customer service, whether they be conveyancers, agents or mortgage brokers, all of whom play a crucial role in helping customers realise their ambition of moving home and we want to help consumers make more informed decisions about who they use.”
To find out more about ESTAS and next year’s event visit www.theestas.com.
*Norwich Union is a trading name of Aviva Insurance Limited
Kindly shared by The ESTAS Forum & Awards
