Read and download The 2024 CLM Defense Counsel Study Report of Findings here!

Addressing the rising costs of litigated claims is imperative in the evolving risk industry. According to the 2023 CLM Litigation Management Study Report, 76% of participants reported an increase in their average cost per litigated claim over the last three years. To combat this trend while maintaining quality legal services, efficiency is key. ClaimDeck, a state-of-the-art litigation management system, streamlines processes, standardizes information flow, and enhances operational efficiency, enabling both legal firms and carriers to reduce costs and improve claim resolution outcomes.

The 2023 CLM Litigation Management Study reveals that 87% of participants believe that a majority of litigated claims settle later than necessary. Additionally, 96% of respondents agree that efficient processes and teachable skills are key to successful case resolution. To address these issues, litigation management technology like ClaimDeck incorporates predictive analytics and skill training frameworks, optimizing case closure efficiency. ClaimDeck's innovative communication framework fosters real-time skill training and knowledge transfer, ultimately transforming the landscape of litigation management for increased efficiency and effectiveness.

The 2023 Claims and Litigation Management (CLM) Study highlights a pressing need for innovation in the legal industry. While 89% of law firms are willing to share performance data, 86% feel that firms don't request this information enough. ClaimDeck, a groundbreaking litigation management tool, offers a tech-enabled solution to this data gap, enabling structured benchmarking data collection and fostering a culture of transparency, collaboration, and innovation in the legal sector.

ClaimDeck Founder Dwayne Hermes delves into the transformative potential of technology in litigation management, as highlighted by the 2023 CLM Study. The study points to a significant upswing in technology investment within the industry, with 75% of insurance industry participants anticipating this trend over the next three years. Drawing from the experiences of Hermes Law and ClaimDeck, the white paper illustrates how tech integration can lead to remarkable efficiency gains, client satisfaction, and the groundwork for AI-driven litigation management. This partnership offers a blueprint for the entire risk industry ecosystem, emphasizing the strategic imperative of technology in shaping the future of litigation management.

Exploring the critical role of effective communication in insurance claims, this post highlights survey results from claims professionals and lawyers. It delves into common communication challenges faced by both parties and introduces ClaimDeck, a collaborative platform designed to bridge these gaps. ClaimDeck streamlines communication, clarifies instructions, promotes transparent billing, and facilitates efficient document sharing, ultimately enhancing collaboration and leading to more successful insurance claim resolutions.

In this blog, we dive into a survey conducted by Fell Consulting, where claims staff and lawyers shared their gripes and wishes. Join us as we unravel their secrets and discover how to create a harmonious rhythm in this intricate dance.

Lawyer Stephen Trexler provides valuable insights into the impact of AI on the legal profession and its potential to improve essential lawyering skills, making legal services more efficient and affordable. He discusses how AI can reduce the burden on lawyers, enhancing their ability to focus on critical tasks and deliver better results for clients.

In this article, ClaimDeck Founder Dwayne Hermes explores the impact of AI, specifically ChatGPT, and litigation management technology on controlling social inflation in the insurance and legal industries. He discusses how AI and data-driven strategies can help insurance carriers better manage litigated claims, control costs, and improve decision-making in the face of rising social inflation.

Exploring the potential impact of ChatGPT on the legal profession and litigated claims process, including predictions of productivity gains.

The insurance industry is continually seeking ways to connect data between claims and underwriting departments for better decision-making. ClaimDeck's data capture solutions play a crucial role in this process, helping carriers make informed underwriting decisions. By efficiently capturing and analyzing internal claims data, carriers can enhance their risk profiles, minimize losses, and improve customer retention. This data-driven approach offers a competitive edge in a highly competitive industry and aligns with the goal of delivering tailored, cost-effective insurance solutions to customers. ClaimDeck's platform empowers carriers to achieve these objectives through efficient communication, compliance monitoring, and data analytics, contributing to continuous process improvement and reduced indemnity, legal spend, and claim duration.

Discover how capturing valuable insights into claims' root causes through technology can prevent future losses in the insurance industry. Learn about the financial and societal benefits of understanding claims' underlying factors and how ClaimDeck's cloud-based technology contributes to risk management efforts. Embrace the potential for enhanced customer service and collaboration between carriers and insureds to reduce claims severity and succeed in a changing insurance landscape.

In Litigation Management Series 4, the focus is on closing the continuous process improvement loop in claims handling. The article highlights the importance of not just capturing and analyzing data during the digital transformation of litigated claims handling but also implementing the insights derived from the analysis. It discusses the steps required for the successful implementation of a continuous process improvement loop, emphasizing collaboration between claims professionals and attorneys, training, and the role of technology in driving the necessary behaviors and processes.

In the third installment of the Litigation Management series, the focus is on whether the digital transformation of litigated claims handling is modernizing or disrupting the industry. The article emphasizes the need for modernization through technology without causing unnecessary disruption. It discusses the importance of embracing opportunities for improvement and making technology user-friendly to alleviate stress and resistance in the work environment.

In the second installment of the Litigation Management series, the focus is on the process of proper claims handling facilitated by Litigation Management Software. The article emphasizes the importance of key actions - resolution strategy, tasks to achieve it, and budgeting - in reducing legal and indemnity spending. It highlights the challenges faced in achieving consistency and how technology can play a crucial role in streamlining the entire process.

In this series on Litigation Management, the concept of Litigation Management Software is explored. The article defines what Litigation Management Software is, highlighting its role in streamlining the management of litigated claims and legal services. It emphasizes the importance of such software for adjusters and attorneys in enhancing their roles, improving communication, and ultimately reducing legal and indemnity spending.