Litigation management technology allows not only better organization of invoices from law firms handling claims cases, but the tools enable carriers to determine the scope and quality of their legal representation.
By Robert Regis Hyle
Two percent of anything may not seem like much, but for the property/casualty insurance industry, which spends about $12 billion a year for outside legal expenses, that two percent can amount to $260 mil- lion in savings if carriers adopted claims litigation management tools, according to Craig Weber, a senior analyst in the insurance practice for Celent Communications. Litigation management savings can come from the mundane (electronic invoicing of legal bills) to the sublime (mining the data from outside counsel to see which firms are saving money for carriers and which are spending too much).
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