Improve claim outcomes with ELM software
Control all aspects of legal operations from a single platform. Manage litigated claims throughout their entire life cycle, from FNOL to settlement or through active litigation and judgement. Assign adjusters automatically or manually, and refer claims to panel counsel based on their historic performance metrics.
Use predictive analytics for early warning of high value losses and risk giving claim adjusters the right information at the right time to make better decisions. Reduce ALAE by as much as 10% by reducing required days in litigation as early settlement offers can be made based on the likelihood of claimant acceptance.
Set claim budgets and track erosion in real-time as legal invoices are received though the ELM software’s e-billing portal. Let our 10+ year PQE attorneys check and review incoming invoices against billing guidelines, making reductions or rejections and going through a complete dispute resolution process with panel firms prior to submitting finalized legal bills into your AP system for payment.
Track spend and stakeholder performance through real-time data analytics reports that provide a drill-down view of key metrics by category, geography, stakeholder and more. Use the knowledge gained using this reporting to guide key business decisions such as panel composition and panel firm assignments.
In-depth budget tracking
Early warning notifications
Claimant fraud detection
Real-time data analytics
What can be predicted?
Predict litigation risks early
Score claims by their risk and associated value, with a notification sent out when an incoming claim should be dealt with as early as possible.
Reduce ALAE and indemnity with favorable settlement offers made early in the process, e.g. due to high risk of costly litigation.
Streamline legal operations
Improve internal legal operations worflows by eliminating day-to-day tasks that plague the efficiency of adjusters and in-house counsel.
Digitize the end-to-end workflow of claims litigation, replacing emails, documents and other manual processes with ELM software.
Reduce external legal spend
Review legal invoices in real-time as they are received for compliance to billing guidelines, with faulty line items auto-flagged by the ELM.
Alternatively, let LSG’s trained 10+ year PQE attorneys conduct legal bill review on your behalf, returning finalized bills for payment.
Handle all litigation in-app
Assign and track claims litigation in-app, with zero third-party tools such as email required to activate and communicate with panel counsel.
Manage the entire process of litigation, as well as settlements, from a single ELM software, meaning less time waste and better tracking.
Monitor panel performance
Manage panel composition, invite new firms, set detailed matter budgets, refer claims and adjust billing rates inside of the ELM software.
Track panel counsel performance through qualitative and subjective metrics such as burn rates, success rate and scorecards.
Satisfied clients across the globe
LSG is easy to navigate even if you are new to the system. Client relations staff is awesome as they are responsive and timely.
We looked around quite a bit when searching for a good fit [...] we decided on LSG and are extremely pleased with our decision.
[...] we were able to take the program from the planning phase to fully functional in less than two weeks due to their efficient on-boarding.
[LSG’s] system enables us to get a much clearer understanding down to transaction-level detail of our spend across the entire business.
Trusted by some of the world’s largest brands.
Learn how LSG saved a top 10 global carrier over $522M with enterprise legal management
We worked with one of the world’s top insurance carriers to integrate our legal spend management solutions, including enterprise legal management software with legal bill review. Over just a 3 year period, we improved the carrier’s metrics and generated value of over half a billion dollars in legal spend reduction.
Reduced days per claim by 394 days, representing over a year
Reduced outside counsel legal spend by $487M dollars
Reduced staff requirements by 492 full-time employees
What is ELM software?
Enterprise legal management software enables in-house legal departments to get an overview of the legal spend across their organization, including documents and records associated with that spend.
Tying into this, a good ELM software will provide an e-billing portal and legal bill review add-on service to correct billing compliance errors, fixing the issues and loss of revenue associated with overpaying for panel counsel’s services, and reducing legal spend.
What is LSG’s enterprise legal management tool?
Our enterprise legal management software, ExpenseCore Legal, is LSG’s latest tool in its long history of pioneering impactful legal spend management and enterprise legal applications for the insurance and wider legal industries.
Using the latest machine learning capabilities, drawn from 17 years experience, our ELM software is a new legal management system offering an excellent user experience for corporate legal departments and enterprises looking to reduce cost and improve legal operations through predictive analytics, legal bill review, and efficient panel counsel and claims litigation mangement.
ExpenseCore Legal is a first of its kind enterprise legal management software that allows clients to seamlessly interact with counsel and share information amongst the internal legal and/or adjusting teams. Our ELM software replaces documents, emails, attachments and other manual processes with in-app interactivity and operability solutions that give instant knowledge and control.
In addition to replacing outdated human-manual tasks, ExpenseCore Legal, LSG‘s ELM software, monitors and auto-corrects excessive legal spend through its service of legal bill review, aiding clients’ legal spend management strategy.
How is LSG’s ExpenseCore Legal tool integrated?
LSG’s enterprise legal management software can be plugged into your existing accounts payable platform, claims platform, payment gateway and other key third-party software platforms as well as internal IT infrastructure via API/SFTP.
This makes our ELM software a seamless enterprise legal management platform in which to conduct all claims litigation and legal spend management needs, saving considerable amounts on legal operations through reducing in-house workflow inefficiencies and unecessary panel counsel spend.
Beyond this, LSG’s ELM software includes a powerful set of real-time data analytics in the form of BI reports and in-ap user dashboards, along with form building on the fly. This means that users are constantly informed of progress, deadlines and milestones, with access across any device that they wish to use.
Our ELM software represents the best-of-breed in enterprise legal management tools for insurance carriers, third-party administrators, banking and finance, consumer and retail, logistics, construction and engineering, transportation, technology, and other enterprises with considerable legal spend.
Key benefits of using LSG’s legal management system
LSG has provided enterprise legal management software for over 17 years. In this time, we have developed several iterations of ELMs. The latest of LSG’s solutions, ExpenseCore Legal, modernizes enterprise legal management with new features.
Leveraging latest technology such as machine learning and predictive analytics, our ELM tool generates savings of between 6-11% in invoice reductions and around 10% of overall ALAE.
Forecast the likelihood of litigation, and get early warning of high value losses for intervention.
Manage claims litigation and track dates, notes, strategy and associated electronic documents.
Monitor panel counsel performance through live data analytics as well as end-of-claim scorecards.
Legal bill review
Auto-review legal invoices for compliance to billing guidelines, with finalized bills submitted to your AP.
Why choose LSG’s legal operations platform?
A big selling point we offer is predictive analytics, currently not offered by any other ELM software provider. Access to predictive models are key to analyzing risk trends and claims litigation likelihoods, empowering better decision-making by claim adjusters and early intervention, e.g. with a favorable settlement offer.
Data is continuously calculated and the results can be presented in a variety of ways, including dashboards and notifications, prompting staff with the right information at the right time to guide claims litigation strategy. These are just some of the ways LSG’s ELM software goes above and beyond for clients.
All-in-all, this is an exciting time for enterprise legal management software. With ever-growing pressure on legal departments to reduce spend, general counsel expect to be armed with greater budget predictability, workflow efficiency and crystal-clear visibility into legal spend and risk. That’s where our enterprise legal management software comes in. Properly implemented, LSG’s legal operations software provides digital transformation and integrated risk management.
How does LSG’s ELM software work?
LSG’s ELM software, ExpenseCore Legal, includes features to manage all activities surrounding the legal department from a single platform. Matter management provides vital tools for running an efficient legal department. If your legal department outsources work to panel firms, then our integrated legal spend management in the form of legal bill review is an absolute must-have.
When engaging panel counsel, you are likely responsible for controlling cost, firm selection and the scope of engagement. With our ELM software, you will gain foresight into budgeting and future spend to create more predictability of legal department results and claims litigation likelihoods, reducing ALAE.
Implement our enterprise legal management software as a part of your legal spend management strategy, with legal bill review and predictive analytics integrated. Get quantitative answers and predict likelihoods of certain actions, enabing you to shape legal operations and to inform key business decisions.
Schedule a demo with our expert team to learn more about how our ELM software solution can drive significant value for your organization through a multi-faceted approach to legal spend management and claims litigation.
Modernize legal operations and empower adjusters
LSG’s ExpenseCore Legal is created for carriers, third-party admins and in-house legal departments looking to reign in legal spend and to streamline legal operations.
Project claim risk and litigation likelihoods, using the knowledge to improve decision-making.
Request, approve and track claim budgets from panel counsel, all within the same dashboard.
Automatically notify partners and staff whenever data needs to be preserved due to litigation.
Manage claims from start to end from a single platform, including panel and adjuster assignment.
Onboard, manage and track panel firms’ performance with scorecards and objective metrics.
Track rate adjustment requests and approve new billing rates from within the platform.
Let panel counsel submit legal bills through the e-billing portal in LEDES 1998B or other formats.
Plan, track and communicate case strategy in-app, ensuring all stakeholders are aligned.
Monitor key spend metrics and stakeholder performance with real-time, drill-down reports.
Legal Bill Review
Let LSG’s team of fee auditors review legal bills on your behalf, enforcing billing guidelines.
Store, tag and track documents electronically, with instant access available across all devices.
Integrate with 3rd-party software such as Guidewire, QuickBooks and other common platforms.
LSG’s enterprise legal management workflow
Take a look at the workflow graphic below for a view into how LSG deploys its legal operations platform for clients’ enterprise legal management needs. LSG’s ExpenseCore Legal offers matter management, panel management, claims litigation management, case management and beyond.
Frequently asked questions
In addition, you can also reign in excessive legal spend by seeing where money is being spent with keen, robust analytics as an anchor of your legal spend management strategy. In short, the benefit of our ExpenseCore Legal is cost savings and increased transparency.
If you've got a list of billing guidelines set out in your service level agreements with vendors, we'll review your incoming invoices for compliance, enforcing guidelines. This, in turn, reduces the overall review requirement and cost with time as your vendors will gradually conform to the guidelines set forth in the pre-determined agreements. If you need help creating a robust set of billing guidelines as a first step in the legal bill review process, we can also help with that.