Case Study

Razor365 CLM & RazorCube Matter
Management for a Highly Regulated Insurance Sector Client

Business
Problem


High legal risks due to litigation matters

Forced reactive approach towards risk mitigation

Accurate and periodic reporting to Regulatory Authorities

De-centralized and voluminous data and documents complicating storage, search and retrieval capabilities

Increasing case volumes of diverse nature, with separate Corporate, Consumer and Recovery litigations

Dependency on Core Systems (Claims Management) for Real-time data

Over-burdened team, missed deadlines and scheduling conflicts

Limited visibility Law Firm/Attorney performance and deliverables

Solution
Approach


Consulting and Configuration to Map Matter Management Software to Department and Organizational SOP (including DOA)

Structuring and migrating legacy data along with related documents

Customized intake of different case types with mapping of relevant stakeholders and TAT

Integration with Core Systems including Claims Management, F&A, AD and RMS

Customized workflows, milestones stages based on matter types, departments, locations and entities

Centralized, role and matter based document repository with metadata, full-text and keyword search

Provisioning immediate but conditional access to data across all legal functions Case-date tracking with calendar integration for scheduling

Law Firm rate and performance tracking based on user inputs

Centralizing reporting and dashboards for General Counsel, Senior Management & Authorities

Business
Benefits


Significant improvement  in Visibility, Control and Governance with centralized:

  • Matter Data
  • Orders
  • Case Files and Related Documents
  • Law Firm Analytics
  • Company & Team MIS
  • Risks

Significant reduction of man-hours and efforts spent on:

  • Searches
  • Calendaring
  • Data updates
  • Internal and External Reporting

High cost savings in implementing PracticeLeague Matter Management when compared to other customized offerings

Moderate cost savings  when assigning matters to law firms after comparing firm rates and performance

Read in detail how Razor365 CLM helped enable the user to streamline the contractual processes

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