Insurance Provider Success | Legal Transformation

LegalVision was approached by a major insurer. They were looking for innovative and cost-effective ways to manage their legal obligations to ensure that all of their marketing collateral was legally compliant. This was a high priority, especially after the Royal Commission into the Financial Services Industry had placed a spotlight on the importance of regulatory compliance.

“In-house teams are under pressure to improve processes, resource allocation and cost management. These pressures have coincided with the legal and regulatory environment becoming increasingly complex, along with technological advancement. It is now critical for you to be able to demonstrate your team’s value and to ensure that finite resources are strategically allocated.”

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Cost-effective and timely legal review

Challenge

Auditable and compliant marketing collateral

The insurer wants to produce compliant marketing collateral that is creative, dynamic and effective, but also legally compliant and cost effective. An auditable trail of all review work is required from a regulatory perspective.

The client wants this without compromising marketing outcomes in any way. Traditional, hourly rate legal services may be too expensive and unlikely to meet the Marketing team’s tight time frames.

Solution

Legal expertise converges with technology

LegalVision worked closely with the insurer’s Legal and Marketing teams to map their existing processes and understand their pain points. We identified opportunities to improve the marketing workflow.

The client uses our Advertising Review Product to upload collateral to PRISM, our proprietary tech platform. Our legal team reviews it, corresponds with the client and provides advice – all within the platform and for a fixed and cost-effective rate.

Result

Improved communication and fast turnaround

The Advertising Review Product has been enormously successful for the insurer. They continue to expand the stream of work that is referred to us. To date, LegalVision has reviewed over 500 pieces of marketing collateral for this client with an average turnaround time of less than 1 day!

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