The announcement this week by LV, the insurance company, of the launch of a new online legal service is an interesting development in the modern, changing legal landscape.
Instead of adopting an alternative business structure, LV has entered into a partnership with UK law firm Lyons Davidson. This is a clever approach to integrating legal services into its client offerings because it has ready-made legal support in place for when its own legal knowledge runs out, as its partner law firm has the necessary legal expertise to handle more complicated cases. This means LV will not lose business to other legal specialists who may well be better equipped to advise on legal matters.
With increasing digitisation of legal services, going forward we may be hearing about other such partnerships from non-legal companies hungry for a piece of the legal pie.
LV has set the ball rolling for an online service which offers consumers advice on a range of legal matters. The offering, called LV Legal Services, aims to provide independent, transparent and easy-to-understand legal advice. It comes at a guaranteed fixed price, which is paid upfront, giving customers access to a team of specialist legal advisers. The service is in partnership with UK law firm Lyons Davidson, providing legal advice on wills, power of attorney, probate, conveyancing, personal injury and employment law.