The emergence of artificial intelligence as a key legal technology has left law firm leaders wondering how their use of AI should be disclosed to clients, and which firms will benefit from the resulting cost savings. There is a growing debate about whether it should be the location or the client. While there is no doubt that artificial intelligence technology can play a role in minimizing litigation costs, it is important to note how less flashy technologies can play a role in lowering litigation costs.

At a minimum, insurance companies and businesses with large litigation budgets should take advantage of the following ways to leverage currently available technology to minimize litigation costs.

Using technology to prevent complaints expressed. Insurance industry research has shown that “substitute claims,” ​​or claims in which the insured is represented by an attorney, are significantly more expensive than similar claims made to unrepresented claimants. I am. Litigated insurance claims typically result in higher costs and higher payouts to the insured. Technology that can quickly and fairly process claims immediately after the incident that triggers coverage will have a significant impact on insurance companies' litigation costs.

Lawyer selection using technology. One emerging legal technology is so-called “litigation analytics” software, which extracts insights from databases of litigation case outcomes. These technologies not only help predict judicial behavior, but also have compelling use cases in the areas of litigator selection, identifying litigation strategies, and establishing litigation budgets.

Use technology to enhance collaboration between clients and external law firms. Although billing practices are rapidly evolving, it remains true that a litigator's time is the most valuable asset (and perhaps the most expensive item on a law firm's billing statement). Introducing measures that reduce the amount of time litigators spend on litigation matters will inevitably lead to cost savings for clients. Therefore, collaboration, data sharing, messaging, and video conferencing technologies all have the potential to reduce costs for clients.

Almost every modern law firm has implemented a variety of technologies to help track case deadlines, organize client files and case materials, and facilitate communication with clients. All of these technologies deliver cost savings to our clients.

Use technology to track and potentially control law firm billing practices. Technology can be used to identify areas for efficiency and enforce agreed litigation budgets. However, clients should note that case management guidelines may be subject to debate. Some courts may not enforce them if they are shown to interfere with a litigant's ethical obligation to exercise independent professional judgment as to how best to conduct the case properly. Technology that analyzes law firm billing statements and enforces agreed fee agreements can also generate significant cost savings.

Leverage technology to minimize litigation costs. Finally, litigators and their clients should not underestimate the economic impact of the ongoing revolution in the court reporting industry. For example, remote depositions minimize travel time to and from the deposition, allow more members of the litigation team to participate in (or observe) the deposition, and facilitate depositions. This could result in significant cost savings for pretrial discovery obligations. Adjust your schedule and produce a digital finished product that can be stored and analyzed by case management technology. A sophisticated new digital platform built specifically for remote deposition enables a more effective deposition experience, especially for depositions that require a large number of exhibits.

Finally, from a technology perspective, careful selection of a court reporting service provider can minimize the chance of confidential client information being accidentally disclosed or lost during the deposition process. Masu.

Bottom line: Insurers and businesses already have attractive technologies at their disposal to at least partially mitigate rising litigation costs. Forensic analytics technology, collaboration tools, and rapid digital innovation within traditional justice system participants such as court reporters and e-discovery providers are enabling today's businesses to effectively transfer the burden of modern litigation to outside law firms and vendors. Get the tools you need to share.



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