The insurer could slash its legal panel after a performance review
AXA could slash its legal panel after completing a three-month review of existing partners.
The insurer is to review all 12 of its panel members over the next three months against a new set of key performance indicators, the results of which will decide its new panel.
AXA head of claims David Williams said: "We are working with our existing partners to agree key performance indicators and quality measures and will be using these to decide the best way forward."
Of the 12 existing panel members, three, Beachcroft Wansbroughs, Keoghs and Morgan Cole, were being tipped to retain their places, with the other positions going to one or two of the remaining firms, or possibly an outsider.
Other firms on the panel are: Badhams Law, Berrymans Lace Mawer, Capital Law, Cartwrights Insurance Partners, HBM Sayers, James Chapman & Co, Kennedys, Mayer Browne Rowe & Maw and The Anderson Partnership.
Though the insurer refused to confirm it would slash the number of law firms from 12 to four, Williams did confirm the insurer would look at the issue. He said: "We are looking to see where our claims volumes are going, to see if we will make any changes to the number of our partners."
The view was backed up by an industry insider: "The feeling is that restructuring at AXA means the volume of work they have to offer their panel has dropped significantly."
As reported in Insurance Times in November, Allianz Cornhill expects to announce the results of its legal panel review in July. The current panel consists of Beachcroft Wansbroughs, Barlow Lyde & Gilbert, Berrymans Lace Mayer, HBM Sayers, Eldridge & Co and Metcalfes Solicitors.