As insurers strive to improve expense and loss ratios, a keen focus must be placed on litigation management. Carriers are proactively seeking new strategies to better manage the cost per litigated claim and resolve litigated cases more efficiently, fairly, and accurately. Some of the most pressing litigation management challenges that insurance claims and staff counsel organizations face today include:

  • Pressure to control legal costs and improve litigation efficiency and results
  • A lack of visibility into case loads, legal expenses, counsel performance and value, and emerging legal risks
  • Difficulty accurately anticipating exposure and cost estimates
  • Inefficiencies resulting from inconsistent litigation management processes among claims professionals and counsel, as well as the use of outdated technologies
  • Balancing increasing caseloads against more limited resources
  • Reliance upon a highly-complex portfolio of systems, which is expensive to maintain, hard for staff to learn and use, and limits reporting across all data

ELM Solutions offerings for claims defense help insurers to meet these challenges. Our suite of offerings – including our patented Enterprise Legal Management technology platform, our applications for legal spend management, litigation management, and staff counsel case management, as well as our legal analytics and industry benchmarking intelligence tools – empower carriers to increase productivity, reduce costs, and achieve better claims outcomes, ultimately driving improvement to expense and loss ratios. Using our insurance solutions, claims and staff counsel organizations:

  • Work more efficiently and manage cases more proactively, enabling earlier case resolutions and better preparation when cases must be tried
  • Easily and securely collaborate internally and with panel counsel law firms
  • Reduce legal costs, improve the accuracy of reserving, and gain insight into counsel performance and value that enables more strategic panel management
  • Gain visibility into legal costs and risks, benchmark themselves against peers to identify opportunities for improvement, and leverage advanced litigation decision support tools to identify the right cases for settlement earlier
  • Consolidate and simplify their technology portfolios to reduce the total cost of ownership (TCO) of claims and legal systems

Our industry-leading technology is just one component of a successful claims defense solution. To ensure each client’s success, our offerings are backed by staff who bring deep insurance industry expertise to each project. We also complement our software with world-class implementation, training, account management, and support services. Our uniquely holistic approach ensures that each client’s claims defense solution delivers maximum value in both the near and long term.

 

 

 

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