Many companies offer claims/matter management processing services, so how does a company select the right one? There are substantial differences between these vendors and the products and services they offer.

• Accenture
• Bridgeway
• CaseShare
• CSC
• CT TyMetrix (Wolters-Kluwer)
• Examen (Reed-Elsevier)
• Guidewire
• Mitratech
• RealLegal
• SAP
• Serengeti
• TrialNet
• Valley Oak

Most notable is that some of these company’s products are far better suited to claims management and focus on insurance carriers; others focus on matter management and corporate law departments. Yet these companies often sell and market their services to both markets, even though their products sets may not be ideal for both markets.

Other items to consider include:

The Manner in Which They Deploy Their Technology Solutions

Do they use an Internet-based ASP delivery model and require that confidential legal and claims data be sent to and stored by them, or can they integrate and install their technology to work directly and securely with existing corporate and insurance company databases and systems?

The Level of Customization They Offer

Can they readily accept and utilize a company’s existing and historical claims or matter information and can they associate different sources of legal data to make their systems immediately useful and meaningful?

The Advisory Services They Offer

Does the vendor merely present an empty sandbox and leave the client to the own devices to fill it, or do they offer services to help a company properly set up their management systems by offering insights into the best structural and customized database design?

Their Pricing and Revenue Models

It is not at unusual for two vendors offering nearly identical products and feature sets to have price points varying by literally millions of dollars. Many vendors may offer what may seem to be very attractive initial pricing, but they hide the fact that substantial day-forward additional customization and consulting fees are required to implement their systems

The Strength of Their Law Firm Collaboration Features

Many of these systems greatest strengths are their ability to allow in-house claims handlers and counsel to work with outside firms, but some products are better suited for internal claims and matter management.

SpectoWise is familiar with all of these claims and matter management vendors, their products, their market approach, the value-added services they offer, their individual strengths and their individual weaknesses. Using our experience and knowledge, SpectoWise can slash months off a vendor evaluation and selection process.

SpectoWise is also very familiar with many of the newest companies offering services to this marketplace and the advantages they may offer in their highly-focused niche focus, their utilization of the very latest technologies, and the quick return on investment they may offer.

SpectoWise personnel can help draft custom crafted Requests for Proposals (RFPS) designed to specifically a company own unique legal invoicing needs.

SpectoWise can offer independent and unbiased third-party reviews of vendor RFP responses and highlight those areas of concern or where additional questioning may be required.

Have other questions? Want to learn more? Why not get in touch.