Addept Insurance has officially launched into the legal expenses insurance (LEI) market. This move aims to address several notable challenges that the industry currently faces, including a lack of customer understanding, a growing regulatory emphasis on Fair Value, and generally low product utilization.
The company plans to adopt an innovative approach in tackling these issues. By focusing on bridging existing gaps and responding quickly to both regulatory changes and market demands, Addept aims to enhance the overall customer experience with legal expenses products.
Addept Insurance is known for providing ancillary insurance solutions and seems to leverage this expertise in its new venture. By positioning themselves as a specialized player in the LEI market, they intend to create products that are not only compliant with current regulations but also resonate with potential customers who may be unfamiliar with such coverage options.
This move could benefit various stakeholders. Policyholders who may have previously shied away from legal expenses insurance might find more accessible products that fit their needs. On a broader scale, the introduction of new and innovative LEI products could also stimulate interest and increased usage within the market.
Overall, while Addept's new offerings are still emerging, their focus on customer understanding and regulatory alignment could play a significant role in shaping the future of legal expenses insurance.
Original Source: https://fintech.global/2025/09/23/addept-insurance-launches-new-legal-expenses-products/