SOURCE: TyMetrix

TyMetrix

September 12, 2011 08:53 ET

For Claims Professionals, Automated Data Collection and Analysis Are Critical for Managing Litigation and Reducing Risk

TyMetrix Identifies Workflow Automation to Isolate Risk and Increase Insight

HARTFORD, CT--(Marketwire - Sep 12, 2011) - In today's resource-strapped world, claims managers are chartered with more responsibilities, including keeping track of litigated claims and legal expenses. Too often, important tasks are not made a priority or simply fall by the wayside, which leads to missed court deadlines, dismissed cases, adversary judgments and avoidable loss. According to TyMetrix, the premier provider of Web-based legal performance management solutions for corporate law departments, law firms and claims organizations, leading claims professionals can turn to automated solutions to track and analyze the growing volumes of data associated with the hundreds of files they handle each day. TyMetrix is a part of Wolters Kluwer Corporate Legal Services.

With the average number of claims handled per adjuster ranging from 150 to more than 250 at any given time, the volume of data collected by each adjuster from law firms and staff counsel can be staggering. By automating the capture and analysis of this information, claims departments can gain the insight needed to avoid risk, identify exceptions and uncover opportunities for savings. For the representatives tasked with keeping track of counsel deadlines, an automated system can monitor task items in one place and alert them to deadlines before they are missed.

For claims management, combining automated workflow with business intelligence can uncover exceptions and identify matters, firms and professionals requiring attention and immediate action. This level of transparency and insight replaces inefficient and underperforming manual ad-hoc reporting processes, which too often provided only historical, rather than actionable, information.

"Many claims departments are challenging managers to become more efficient in accurately keeping track of law firm billings and case deadlines by moving beyond information collected from individual emails, PDFs, Word documents and even pieces of paper," said Hans Bengard, national director, litigation management solutions, TyMetrix. "Without using automated collection and analysis, this critical business task is an administrative nightmare. Having worked with hundreds of claims and legal departments to solve their litigation management problems, we have seen that automated workflows are the most effective solution to a very real industry problem."

To learn more about how to navigate the complexities of claims management, register for the Wednesday, Sept. 14, webinar from TyMetrix and the Council on Litigation Management entitled, "When Coverage and Claims Collide."

About TyMetrix
TyMetrix is the market leader in Web-based legal performance management solutions for corporate law departments, law firms and claims organizations. It provides clients with quality legal management software -- including e-billing, matter management and performance metrics -- and the expertise required to reduce costs, improve results and gain the insight required to meet their strategic objectives. TyMetrix is based in Hartford, Conn., with business operations in Chicago and London. For more information, please visit www.cttymetrix.com or www.cttymetrix.co.uk.

About Wolters Kluwer Corporate Legal Services
Wolters Kluwer Corporate Legal Services is a business of Wolters Kluwer, a market-leading global information services company with annual revenues (2010) of EUR 3.6 billion and approximately 19,000 people across Europe, North America, Asia Pacific and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Visit www.wolterskluwer.com.

Contact Information

  • Press Contacts
    Stacy Nobles
    Wolters Kluwer Corporate Legal Services
    212.590.9058
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    Ashleigh Egan
    Articulate Communications Inc.
    212.255.0080, ext. 12
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