SettleIndex changes legal process and culture by introducing data-driven risk management for litigation. Reduce the cost of claims and improve client service and capital management.
At the heart of SettleIndex is the power to drive fundamental change in the legal process, empowering clients to make earlier settlements at lower cost.
Avoid costly defence and investigation processes and make earlier, risk-based decisions on settlement.
Justify settlement decisions by applying an algorithmic approach to valuation and resolution.
Ensure lawyers are taking their own costs into account, assessing the risk of all outcomes, and including the potential cost of not settling into their risk assessments.
Litigation performance is difficult to assess. SettleIndex aligns incentives between clients and law firms, and provides you with the ability to measure performance.
Measure the performance of law firms with a range of KPIs. Set meaningful metrics for lawyers based on your business goals.
Innovate new charging structures based on value, cost effectiveness and performance rather than time and cost.
Understand which firms and lawyers deliver the best value and use it to inform panel selection and review.
Over 90% of cases settle, yet structured data is rarely collected on the process. SettleIndex collects detailed data on litigation, informing strategy and driving innovation in ways of working.
SettleIndex enables consistent case reserving across law firms and can be configured to your reserving philosophy.
Build up a proprietary data set of litigation activity and use it to inform future disputes and obtain competitive advantage. Analyse patterns with visual dashboards, and build reports based on your objectives.
SettleIndex provides a wealth of data that can be exported to data science teams, actuaries or existing modelling systems.
Collect detailed data on decision-making and justification to aid compliance and retrospective audits.
“Insurers have made huge progress in claims service, but there’s been one area where we’ve been relatively static – and that’s in the relationship with lawyers. There’s been no burning platform for change because actual performance has been difficult to measure. With SettleIndex, for the first time, we can drive change in the legal market and provide claims handlers with the data to manage performance. That’s revolutionary, and its impact could be huge, benefiting everyone – insured clients, brokers and insurers. SettleIndex is an opportunity to create significant and sustainable change.”
Nick Sinfield – former CEO, Catlin / former Group Head of Claims, Tokio Marine Kiln
Trial free in your organisation. Book a demonstration with our team now.