This is the first installment of a series detailing the five disciplines at the core of an effective data metrics program for claims litigation organizations.
Claims organizations are under constant pressure to control litigation management costs, increase internal claims staff efficiency, and improve outcomes of their litigated claims. As a result, many have undertaken efforts to capture and use data to guide decision-making.
Some are already using carefully honed metrics to inform their case management strategies, while others are just beginning to understand how data can help them toward their goals. Wherever your organization is on the maturity curve, there are steps you can take to be sure that you are optimizing the impact of your metrics.
|Getting started
A typical litigation program generates an enormous amount of data about each claim and case. For example, you probably have information available about policyholders, litigants, case age and duration, settlement terms, outside counsel billing, and many other aspects of your operations. But not all of this data is equal in value. Choices must be made about which data is useful in determining the best course for moving forward on individual cases as well as on a departmental level.
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