The future has always been unpredictable, but COVID-19 completely changed the way we lived, worked and stayed connected. The Legal Protection Insurance industry was forced to quickly adapt to the disruption, all while working to protect our clients’ legal rights. This congress unpacked our collective challenges while it explored opportunity for renewed growth and global trends to stay relevant and grow the market!
COVID-19 fully impacted this event and so we had our first virtual Congress in 2020. The focus was on our people who help policyholders every day to solve their legal problems and issues. High-calibre experts discussed the potential of this profession, the Legal Protection Lawyer, and the role, skills, and ethics he must account for.
RIAD, the International Association of Legal Protection Insurance, celebrated its 50th anniversary at its annual Congress in Berlin where representatives of the legal industry from around the world gathered for this memorable occasion. Over two days, we discussed collective redress procedures worldwide, how they are evolving, and the role insurers, law firms, states, funders and consumers have.
The overall objective of this Congress was to discuss all facets how legal protection insurers can settle claims and serve their clients. The discussions included, in particular, the roles of our partners, e.g. lawyers and other providers who are involved in the value chain. Delegates were able to get ideas what good claims handling means and how solution management can work. The Congress provided ideas how to improve and develop legal protection businesses to serve clients better and more efficiently.
Why does the legal protection sector need to change and how can we bring changes about? The topical question at this congress was how insurers can assume changes to keep up with customer demand and technological innovation. We saw how behavioural economics influence consumers’ choices and their inclination to provide for risks as well as the challenges FinTech and InsurTech present for insurers. Several workshops identified the shortcomings in today’s business models and how legal insurers can overcome them.
For the first time our Canadian members invited the legal protection industry to gather in Montreal, home town of many Legal Tech innovations. Besides offering the opportunity to visit and experience innovators such as Cyberjustice Laboratory or éducaloi first-hand live, the congress focussed on the Sharing Economy and how trends in the digitalisation of legal services impact legal insurers. The key question was how legal insurers can best implement and benefit from these developments to succeed in this digital environemnt.
With Alternative Dispute Resolution, in particular online, the justice system and the way we are solving (legal) issues are entering a new era and increasingly become a valuable antidote to stressful, expensive and time-consuming litigation. The rise of the internet and more digitisation are enpowering consumers worldwide and are transforming our societies. This congress highlighted how quickly Online Dispute Resolution (ODR) is evolving, both in sophistication and scope, and gave an insight how real life disputes can be solved within a virtual world.