Litigation Management Software 101
Managing Litigation Claims Effectively
We often use the term “Litigation Management Software,” but it’s still a relatively new space and solution for organizations with litigated claims. At the core of this software is access to more complete datasets that enable leaders to make better and more informed decisions related to case strategy. Despite its need in the marketplace, litigation management software remains a bit of a mystery for many.
This article is intended to be a definitive resource for litigation management software by giving a clear description and showing how it relates to other claims software currently in the marketplace. We will also illustrate the benefits of the software and its advantages to various users.
What is litigation management software?
Let’s start with the basics. Litigation management software is a cloud-based solution that serves as a central repository for a company’s claims that are in litigation. Case-related notices, strategy, dates, details, activities, contact information and files live within this software. It effectively pulls data out of emails, attachments and notes and makes that data structured and reportable. Access to this data gives claims leaders and risk managers a much-needed way to gain insights from their cases in real-time, to effect case outcomes and to lower the amount of time cases remain open.
How is structured data used in managing litigated claims?
By structuring your litigated claims data, you can achieve a complete picture of how your cases are doing. This process involves taking necessary data points from emails, notes, attachments, phone calls, etc., and putting them in data fields. That data can then be reported on in many different ways, offering claims handlers and leadership teams ways to be proactive on current and future cases.
Other software systems with unstructured data or limited structured data fields (more on those later) will often only provide data to claims organizations after the case is closed. In contrast, litigation management software enables claims professionals and attorneys to view details and act on them in real-time.
Some of the more meaningful case data that you might find if you combed through an organization’s litigation management software includes:
- Who are the plaintiff attorneys the company has faced most often?
- When does a specific plaintiff attorney begin negotiations?
- Which judge has presided over the most cases?
- Where did a case take place?
- Which experts appeared at a trial?
- What settlement offers were received in a case?
Armed with historical details of this nature, organizations and their defense attorneys can better game plan on strategy for new cases that arise.
What are the benefits of litigation management software?
Claims organizations and risk managers are beginning to migrate toward litigation management software—and for good reason. The solution has ample benefits that improve multiple facets of operations.
Perhaps the most significant benefit of litigation management software is that it facilitates the use of structured data—sortable, quantitative data based on specific field types—that helps claims organizations make better decisions that affect case outcomes and close cases faster. This brings significant savings in legal fees and indemnity costs—which many have believed unable to change.
Litigation management software can also facilitate much better collaboration and communication, with both claims professionals and attorneys working in one unified platform. And since the litigation management software integrates with claim systems, accounts payable systems and other technology, there’s no duplicative work or re-keying of data. The software promotes early strategic vision and litigation resolution, empowering organizations to make better decisions on how and when to proceed with a case.
How can litigation management software reduce indemnity and legal fees?
While it’s true that litigation management software can’t change a judge’s ruling, it can reduce indemnity through several different ways. The simplest explanation is that it helps close cases faster. It sounds obvious, but the faster a case closes, the less it will cost the claims organization. Additionally, litigation management software supplies claims leaders with unparalleled visibility into case status, helping claims organizations to settle the case promptly, in many cases, long before it has the potential to turn into a nuclear verdict.
With the help of the software, claims leaders have access to historical details that can inform decision making, including the impact of certain venues, characteristics of specific plaintiff attorneys, tendencies of certain judges and the efficacy of specific mediators. By reviewing that data, claims leaders (and partnering attorneys) can feel more confident about the direction of their case strategy.
Who uses litigation management software?
Claims Leadership and Risk Managers
The users who get the most benefit from this software are insurance carriers and large organizations with a number of claims in litigation. With this system, they now have the ability to see their litigated claims in a whole new light. Since the data is now structured and reportable, leaders are able to ask the right questions and use the data to make more informed decisions. The reporting dashboards available in litigation management software are fully customizable, providing a single view into the entirety of their ongoing program. Additionally, the data captured in the system allows them to better understand and choose the attorneys who are performing best for their organization, further increasing their ability to close cases with better, more positive outcomes.
Claims adjusters use the system to track their cases, capture defense counsel activity and review workflow tasks on each case. Since the data from the litigation management system can easily import and export case data and related documents with their existing claims system, they have increased visibility into their cases, without having to duplicate any data entry or move files and attachments.
A company’s internal or external defense team comprised of attorneys or paralegals are regular users of the system. They input the necessary information for each case, upload pertinent documents and forms, and update case data accordingly as it moves through the process.
How does litigation management software compare to other industry software?
It’s essential to understand how litigation management software differs from other software in the marketplace, and how it integrates with a company’s current tech stack.
While e-billing software has its merits, including encouraging billing compliance, it has downsides not found with litigation management software. Most notably, e-billing’s focus is on the invoice, which has little to no impact on defining case strategy—unlike the real-time aspect of litigation management software. By comparison, litigation management software empowers claims organizations to review cases holistically. With a comprehensive litigation management system like the one powered by CaseGlide—which features an embedded e-billing and compliance module—claims organizations can reduce the number of its disparate systems in use.
Litigation management software is also vastly different from claims software, which includes details about all claims and not just those being litigated. Most claims systems have little to no functionality that allows for the capturing of actionable attorney and case information. However, a good litigation management solution integrates with claims management software, seamlessly bringing both platforms, and their critical data, under one umbrella.
Matter Management Software
Attorneys will typically use matter management systems for the tracking of case tasks and deadlines, but those platforms lack data entry points relevant to claims cases. The use of these solutions also encourages a siloed environment because claims professionals simply won’t have the same system access as the attorney. On the other hand, litigation management software unites both parties within one single platform, fostering better communication and collaboration.
Parting thoughts on litigation management software
For claims organizations and risk managers seeking ways to enhance relationships with their defense attorneys through a unified platform, litigation management software makes a lot of sense. The solution also represents an effective way to reduce total costs and improve the way the organization handles claims through enhanced case strategy and relevant historical data. For nearly a decade, CaseGlide has been helping insurers close their cases faster and with better outcomes through its homegrown software solution.
Ready for a closer look at how we can help your claims organization? Schedule a demonstration today.