The Motor Uninsured Loss Recoveries Association (Mulra) will hold a 36-hour think-tank in mid-March to consider its future.
Mulra chairman David Haynes said it was likely the association would widen the scope of its membership and rewrite its regulations.
"One of the things we'll be looking at is the scope of the organisation," he said.
"Even if the current members are the seven main ULR companies, there should be more people involved to give it more scope."
Haynes said this could mean inviting other legal expenses sectors, such as personal lines, into the group.
"We want more people in than out," he said.
Mulra will also look at its regulations, with a view to becoming more of a representative of the industry sector and less of a regulator.
"We've been seen as a watchdog of the industry, but there are other groups to do that, like the GISC," Haynes said.
"We want to look after the interests of members, who will then look after the interests of consumers."
Haynes said the association had discussed the issues at a meeting two weeks ago.