PriyaPatel
TLDR:
- Mason Owen has launched the UK’s first-ever legal indemnity insurance platform, Instant Title Solutions (ITS), utilizing artificial intelligence to streamline the insurance process.
- ITS allows law firms to compare and assess terms from multiple A-rated insurers in real-time, offering over 90 insurance products catering to specialized risks.
Mason Owen has unveiled the UK’s first-ever legal indemnity insurance platform, Instant Title Solutions (ITS), marking a significant advancement in the InsurTech sector. The platform harnesses artificial intelligence to streamline the insurance process, addressing the challenges and complexities associated with arranging legal indemnity insurance. ITS allows law firms to compare and assess terms from multiple A-rated insurers in real-time, ensuring that they can offer their clients the most suitable insurance options for each transaction. This not only enhances efficiency but also minimizes compliance risks inherent in the insurance procurement process.
The comprehensive range of over 90 different insurance products offered by ITS caters to a variety of specialized risks such as Forfeiture, Insolvency, and Japanese Knotweed. Additionally, the platform provides bespoke integrated search cover for users to customize their insurance solutions based on specific requirements. As an Appointed Representative of Mason Owen Financial Services, a trusted name in legal indemnity insurance, ITS leverages the expertise and proven track record of Mason Owen to deliver innovative solutions that meet the evolving needs of law firms.
Founder and director of ITS, Sam Gosney, highlighted the advantages of the platform, emphasizing the importance of compliance with SRA rules for lawyers to provide clients with suitable insurance recommendations. By offering a personalized service and online solution, ITS simplifies the insurance procurement process, removing time and uncertainty for law firms. Andrew Gibbons, Mason Owen’s Managing Director, further emphasized the use of AI to extend provision, aligning with the demands of lawyers seeking efficient and compliant insurance solutions.
