LEGAL GUARD REVAMPS MARKET PENETRATION STRATEGY

Despite more than twenty law firms operating across the country, Legal Guard has bemoaned the low legal insurance adoption rate.

The low legal insurance penetration rate in the country has motivated the company’s new blueprint to be hinged to client and public legal insurance education.

“From the NBFIRA report, the entire insurance industry has a 3.4 percent penetration rate and legal insurance takes a very small contribution.

Which basically means, less of our nation is legally insured hence it is our mandate to embark on customer education drive,” said Legal Guard Managing Director, Kgomotso Ratlhaga.

Ratlhaga said the company intends to leverage its digital strategy to propel legal insurance penetration.

“The traditional way of engaging with public and clients needs to be revamped,” said Ratlhaga, citing the company’s plans to launch its public portal and roll out other portals to support law firms and sales channels.

“Portals are another way that both existing and the public will be able to access our legal insurance solutions.”

In addition, Ratlhaga said Legal Guard will also use public education to support growing channels of digital, brokers, corporate agencies, representatives, and bank Corporate Agencies.

“Legal Insurance education will be targeted towards existing customers, to know more on their policies and benefits that they can derive from it. Over and above that, there will be a public education drive as well.

“Our customer value proposition will be elevated, to ensure a proper understanding of legal insurance, and more especially free advisory services that we provide as a business. Most customers tend to pay extra Pula for services that they could receive for free, should they get in touch with us,” said Ratlhaga.