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Insurance Claims and Litigation Management

Wolters Kluwer ELM Solutions INSURANCE CLAIMS LITIGATION MANAGEMENT KEY OBJECTIVES OF CLAIMS PROFESSIONALS Manage cost per litigated claim Resolve litigated cases efficiently, fairly, accurately Selected findings from the 2015 CLM Litigation Management Study Approximately 80 senior claims and litigation executives, primarily in property and casualty insurance claims organizations WAS WHO OLLED LITIGATION MANAGEMENT PROGRAM EFFECTIVENESS HAS THE ATTENTION OF SENIOR MANAGEMENT 77% 75% Report that prog ram effe ctiveness has been Believe that program effectiveness is getting more discussed with the CEO in attention from senior the past 12 months management vs. 3 years ago CURRENT STATE OF INSURANCE CLAIMS LITIGATION Compared to 3 years ago, respondents report: 60% 64% LITIGATION INVENTORIES AVERAGE COSTS PER LITIGATED CASE are the same or higher are the same or higher 94% 79% LITIGATION DEPARTMENTS STAFF COUNSEL UTILIZATION are as large or larger has grown or remained steady USE OF STAFF COUNSEL 26% MAINTAIN STAFF COUNSEL OPERATIONS FOR THESE ORGANIZATIONS: 40% Of cases are assigned to staff counsel, 60% to outside firms 53% Report staff counsel growth Believe that use of staff counsel is Maintain performance scorecards for their staff counsel attorneys/offices 90% 56% more efficient in terms of costs per case than use of outside counsel PANEL MANAGEMENT IS A KEY STRATEGY 96% 36% 40% REPORT THEIR ASSIGN NEW CASES TO USE A PANEL OF PRE-APPROVED PANEL HAS FEWER A MUCH SMALLER LAW FIRMS FIRMS SUBSET to defend their litigation than three years ago of panel firms ARE CLAIMS ORGANIZATIONS MEASURING PANEL COUNSEL PERFORMANCE? 64% "FORMALLY MEASURE" THEIR LAW FIRMS' PERFORMANCE Law firm perfor mance criteria is weighted toward "loss cost results" Comfort level with performance measurement processes is only moderate 1 1 10 6.21 10 LOSS COST EXPENSE NOT MUCH 5.69 EXTREMELY MANAGEMENT RESULTS AT ALL AVG SCORE AVG SCORE HELPFULNESS OF AVAILABLE ANALYTICS/METRICS Measuring overall effectiveness of the litigation management program has room for improvement NOT VERY 2.86 VERY HELPFUL HELPFUL AVG SCORE HOW ARE CLAIMS ORGANIZATIONS USING TECHNOLOGY? 63% use legal e-billing software 25% use matter management software 14% use collaboration software Wolters Kluwer ELM Solutions SOURCE: CLM Advisors. "The 2015 CLM Litigation Management Study Report." March 2015. © 2015 Wolters Kluwer ELM Solutions, Inc. and its affiliates and/or licensors. All rights reserved.

Insurance Claims and Litigation Management

shared by on Oct 06
Litigation management program effectiveness has the attention of senior management,in this info-graph.




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