ELM Solutions understands that attorneys and claims professionals face tough case strategy questions, such as:
- "What's the likelihood of winning or losing this case?"
- "Should we settle or go to trial?"
- "How much should we offer to settle?"
- "How much should we reserve?"
- "How much is this case likely to cost?"
- "Have we selected the best outside counsel?"
The Passport® Litigation Decision Analysis & Optimization Module is our solution that informs settlement negotiations and case strategy to improve litigation outcomes. The module is unique in its ability to mine historical data from a company's matter or case management system and combine it with the power of predictive analytics and decision tree analysis to help counsel and claims professionals make better litigation strategy decisions.
The module guides attorneys and claims professionals through decision analysis and optimization processes using historical data regarding the performance of similar cases and configurable decision tree analysis templates, which serve as case strategy "road maps" and can be completed internally or collaboratively with outside counsel. The resulting completed decision tree and expected case value identify the most optimal case strategy to pursue and inform reserve setting. They also enable counsel and claims professionals to more effectively communicate case strategy and better quantify, predict, and control litigation costs. The module can be used to conduct "what if" analysis that models and compares multiple case strategy scenarios, as well as to monitor law firm and case performance and further refine and optimize case strategy using real-time data as new information emerges throughout a case's life cycle. Ultimately, the Passport Litigation Decision Analysis & Optimization Module drives knowledge sharing and the use of consistent case management strategies and empowers companies to improve litigation outcomes.
Key features of the Passport Litigation Decision Analysis and Optimization Module include:
- Library of decision analysis templates for common matter/case types
- Wizard to guide counsel/claims professionals through decision analysis scenarios and generate a completed decision tree and expected case value
- Tools to easily collaborate with outside counsel to complete decision analysis scenarios
- Ability to perform “what if” analysis to model and compare multiple case strategy scenarios
- Set of reports for analysis, optimization, and comparison of case strategy scenarios to identify the best case strategy
- Client-side ability to create and modify decision analysis templates to align with unique litigation strategy requirements
Passport® Product Collateral
- Passport Litigation Decision Analysis and Optimization Module for Corporate Legal
- Passport Litigation Decision Analysis and Optimization Module for Claims Defense
- Passport Legal Matter & Spend Management
- Passport Claims Defense