SOURCE: TyMetrix

TyMetrix

June 22, 2011 09:33 ET

Latest Version of TyMetrix 360 for Claims & Risk Improves Case Management, Controls Costs and Boosts Performance for Claims Departments

TyMetrix Platform Unifies and Consolidates Legal Performance Management Data on Single, Integrated System

HARTFORD, CT--(Marketwire - Jun 22, 2011) - TyMetrix, the premier provider of Web-based legal performance management solutions for corporate law departments, law firms and claims organizations, today announced the latest version of TyMetrix 360° for Claims & Risk. Designed for the specific needs of claims departments, TyMetrix 360° for Claims & Risk unifies processes and consolidates legal performance management data into a single, integrated system to help improve case management, shorten payment cycles, reduce defense costs and boost indemnity performance. TyMetrix is a part of Wolters Kluwer Corporate Legal Services.

Most claims departments leverage Business Intelligence (BI) to turn their increasing volumes of raw legal data into a wealth of analytic information to make better business decisions. Where claims departments have struggled is in taking BI innovation to the next level -- ensuring that the information is easy to access, configure, share and distribute. This has typically been a complex, time- and resource-intensive endeavor.

TyMetrix 360° for Claims & Risk is the answer to this challenge. An easily implemented, best-practice based technology, it unifies and fully integrates matter management, invoicing and reporting information on a single platform -- rendering information easily accessible at the point of decision. TyMetrix 360° for Claims & Risk provides claims departments with:

  • Control of Invoices and Payments: By automating the entire litigated claim and expense lifecycle, TyMetrix 360° for Claims & Risk lets users manage hourly rates and staffing, enforce billing guidelines and create and manage budgets. With a secure, Web-based entry point for billing systems, invoices can easily be reviewed, tracked with law firms and in-house users and paid electronically.

  • Automated Workflow for Reduced Risk: By automating critical gate points in the lifecycle of litigation, from counsel selection and case assessments, to trial and closing reports, TyMetrix 360° for Claims & Risk lets users rest assured that no case will fall through the cracks and that outside counsel is fully engaged in providing key performance information.

  • Transparency: Providing an instant, comprehensive view into litigated claims data, TyMetrix 360° for Claims & Risk helps users avoid surprises by providing the information needed for advanced development of claims management strategies. The solution also offers a complete view into all claims activities and document workflow to ensure organized strategies for case documentation.

  • Better Insight and Perspective: TyMetrix 360° for Claims & Risk gives users access to hundreds of best-practice reports and key performance metrics that offer insight and perspective for better expense management and data-driven decision making. With the industry's most advanced reporting capabilities, the solution provides a clear, complete picture of a claims department's performance and financial value to the organization.

  • Unrivaled Expertise: TyMetrix is recognized as the innovator and decades-long global leader in case, spend and legal performance management and its employees truly understand the claims industry because many of them used to work on the frontlines. With implementation, training and support configured to meet the unique needs of each business, TyMetrix 360° for Claims & Risk can fit within a business' most precise requirements and workflows -- and grow with the organization as its needs evolve.

"The needs of claims organizations are very unique and a one-size-fits-all solution will simply not meet them," said Hans Bengard, national director, litigation management solutions, TyMetrix. "TyMetrix 360° for Claims & Risk is designed specifically for how claims organizations work. By consolidating legal performance management data on one platform, TyMetrix gives claims organizations unprecedented control and insight into operations to act as a major competitive advantage and provide measurable value for the business."

To learn more about TyMetrix 360° for Claims & Risk visit: http://www.cttymetrix.com/claims/default.aspx.

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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