PI Futures conference: New business of consumer claims

Last month, our Director, David Johnstone, spoke at Legal Future’s annual conference.

The event focused on how the legal landscape has changed since the introduction of the Official Injury Claim portal, almost a year ago. David discussed the area of “getting out of RTA,” and explained the options for solicitors considering an exit from the RTA market.

David was joined at the conference by speakers from personal injury law firms, as well as businesses providing services to the legal sector and representatives from MOJ and the MIB.

David Bott and Jeremy Brooke from our panel firms Bott & Co and SSB Law, along with Jeff Winn from Winn Group, also spoke to the conference delegates about how they had embraced the changes and identified innovative ways of diversifying into other areas, primarily in the consumer claims arena.  They discussed the pros and cons of new consumer claims such as:

• Cavity wall claims
• Energy mis-selling claims
• Plevin claims
• Flight claims
• Timeshare mis-selling claims

They also explained how technology, the right staff and training had enabled them to rapidly ramp up the number of matters that they were able to handle, in what is, in many cases a ‘high volume, low value’ area.

Jeremy Brooke from SSB Law further discussed “second mover advantage”, and how those firms following first movers into the market may actually capture a greater share of new markets.

How Recovery First can assist

Speakers at the PI Futures conference have highlighted the importance of keeping up with and preparing for changes within the legal market. If you are considering an exit from the RTA market to move into new areas, such as the consumer claims markets listed above, Recovery First can assist.

Recovery First offer a unique service to any law firm wishing to exit any market. We provide a positive option for those wanting a structured exit from the RTA market as a result of recent changes.

The unique scheme offered by Recovery First is suitable for both law firms and professional advisors. Our team manage the transfer of files from start to finish; placing case files with an approved panel law firm to protect the integrity of the client’s case, whilst maximising the value of their WIP.

If you would like to find out more about Recovery Firsts’ process, please get in touch with David Johnstone via email david.johnstone@recoveryfirst.co.uk, telephone 0788 779 6989, or contact Sally Dunscombe at sally.dunscombe@recoveryfirst.co.uk or 01357 440140.