CLS: AI investment
Co-operative Legal Services (CLS) is ahead of its stated ambition to become a £100m operation by 2027 after announcing a 24% rise in turnover last year to £84m.
The pioneering alternative business structure, the second licensed by the Solicitors Regulation Authority back in 2012, also reported underlying operating profit of £27m, up 30%, despite holding prices.
CLS, the fastest-growing part of the Co-operative Group, describes itself as the largest regulated provider of wills in the UK and having the largest team of probate solicitors and specialists.
After suffering a very difficult time in the mid-2010s, CLS has seen remarkable growth in the past five years, having reported a profit of £4m on a £37m turnover in 2020.
The member-owned organisation saw a 29% rise in the number of case openings in estate planning, while probate sales were up 2.2%, despite a 2.8% “decrease in death rate”.
CLS said it had successful invested in using artificial intelligence to speed up probate administration tasks, “enabling clients’ cases to be resolved more quickly”. It now plans to expand its use across our other practice areas in the coming years
Speaking to Legal Futures in 2022, Caoilionn Hurley, managing director of Co-op Legal and Life Services, said the aim was to become a £100m operation by 2027.
She said yesterday: “Co-op Legal Services has had an exceptional 2024, maintaining a strong growth trajectory…
“At the heart of our strategy are ongoing technological advancements, enhanced accessibility, strengthened partnerships, and a focus on delivering optimal customer experiences.”
Leave a Comment