CLS Property Insight (CLS PI) and Redbrick Solutions are joining forces to deliver an integrated service providing legal indemnity insurance products to the conveyancing market. Redbrick Solutions and CLS PI are committed to making an inspiring and positive impact on the property industry by working proactively to improve the conveyancing process and to formulate and implement best practice throughout the industry.
It is estimated that 1 in 3 transactions require some form of indemnity insurance and yet it is often seen as an ‘add on’ to the conveyancing process. Because of the increasing need for indemnity insurance, it should be considered as managing risk not just as selling insurance products. Indemnity insurance is bought by conveyancers on behalf of their clients and with the new Insurance Distribution Directive (EU legislation that sets regulatory requirements for firms designing and selling insurance products) it is important that conveyancers are confident that the policy they are purchasing is the best available.
The collaboration between Redbrick Solutions and CLS PI will allow indemnity policies to be ordered through the Redbrick Solutions Case Management software. These policies will be automatically tagged, tracked and put into the matter file. This integration will not only save time, and therefore money, but will also provide full visibility of orders which, in turn, will help manage risk for the practice. If the matter requires a more complex policy, a variable statement of fact can be produced and direct contact with an experienced underwriter is always available.
Redbrick Solutions and CLS PI are committed to improving the conveyancing market through easy to use systems and by providing excellent customer service. In addition, both Redbrick Solutions and CLS PI provide CPD training opportunities through both the Redbrick Academy and regular live webinars on managing risk and topical issues such as Japanese Knotweed.
Jo Hodges, Director of Redbrick Solutions commented ‘’We are delighted to be working with CLS PI. Both companies are dedicated to streamlining the conveyancing process through easy to use, market leading systems so it makes sense for us to partner with the indemnity insurance experts to enhance our offering to clients. We, and CLS PI, are committed to helping and improving the industry and I believe that this development, coupled with the training and market insight we will be offering, will be of great benefit to all conveyancing firms.’’
Robin Wells, Business Development Director at CLS PI commented “We are very proud and excited to be offering our range of indemnity policies through the Redbrick platform. This is a perfect example of how innovative and customer focused businesses can partner to further modernise the conveyancing journey and ease the pathway for transactions to complete”.