A closer look at Prosperity’s Commercial Conveyancing Indemnities – with Darren Parfitt

Here at Prosperity Insurance, Business Development Manager, Darren Parfitt, is our in-house expert in conveyancing indemnities. Over the past year, Darren’s focus has been building out Prosperity’s range of residential conveyancing policies. Now, as more and more clients choose Prosperity, we’ve launched a new range of policies for commercial properties. We spoke to Darren about the range, and why conveyancing firms should choose Prosperity, every time.  

After successfully building out Prosperity’s range of residential indemnities you’ve now launched commercial conveyancing indemnities. Tell us about the development process.  

We built out our residential conveyancing indemnities to a range of 41 different insurance products in total and this was largely driven by client demand. Many of the firms we partner with are also working in commercial real estate and wanted us to make a similar range available. 

Working with our partner firms, we’ve gathered insight into what the most common indemnities are and launched eight products to begin with. But like our approach for residential conveyancing – we want to build this out. So, expect to see more products in the range, in the not-so-distant future.  

In terms of how Prosperity works with partner firms, what sets you apart from other insurance providers?  

Legal Insurance is a competitive field; and whilst we’re competitive with our premiums and pricing, every other insurance provider out there can choose to match our prices, especially the larger players.  

What they can’t do is match the service we offer our clients. We’re continually seeking to understand what firms need from their insurance products – and the biggest thing conveyancers are looking for (beyond a quality product) is speed and ease of access. We’ve used that to inform our product development and service offering.  

First off, we have a portal which is free to sign up to and offers clients a quote in seconds and a policy in minutes, but even if that is too much of an undertaking, we offer a dedicated account manager to every firm. The Account Manager is on hand to help with whatever they need and responds usually within the same day.  

We understand that for many conveyancers, both in commercial and residential property, indemnity insurance is not a fix, but it is a solution that allows them to speedily continue with a transaction. So, our job is to make that process as quick and easy as possible.  
 
Any other reasons why firms should choose Prosperity?   

We’re regularly told by our clients that they’re happy with the process, speed, and service we offer – and it’s what sets us apart. Across all our policies we’ve minimised reporting requirements wherever possible, and we’ve recently been working on seamless integration into case management systems. By doing this, firms can quite literally access policies with the touch of a button from their own internal systems. We’ve worked out the integration for the most widespread case management providers but we’re working to integrate with more and more – especially those that benefit our existing clients. This is just one example of how we’re building client needs into our offer, and it’s how we’ll continue to grow the business – across all our policy areas.  

Find out more about Prosperity’s range of commercial conveyancing indemnities and if you’d like to arrange a discussion with Darren about our service, get in touch at darren@prosperityinsurance.co.uk or 07354 793 802.