How Optimizing the Litigation Department Can Have Actuarial Benefits
Recently, we had the opportunity to present Adding Litigation Analytics to the Actuarial Arsenal to a group of almost 100 actuaries from the Casualty Actuarial Society at the Buckeye Actuarial Continuing Education meeting. The meeting took place at the Grange Insurance headquarters in Columbus, Ohio. We received great feedback from the actuaries in attendance at the conference, and we wanted to take this opportunity to share the presentation with you. Click the image above to access the presentation.
In this presentation, we begin by outlining the risks as well as the potential weaknesses that exist in our current legal environment. We highlighted the imbalances present in our judicial system, focusing specifically on unpredictable judges and runaway juries. We invite you to find out more about the unpredictable nature of courtrooms across our nation in the 2016-2017 Judicial Hellholes Report. This intriguing report sheds light on specific counties and courts that “apply laws and court procedures in an unfair and unbalanced manner, generally to the disadvantage of defendants.”
The presentation next focuses on how to optimize litigation using performance analytics and predictive analytics. Actuaries found the presentation particularly interesting as they learned about the data fields that could be captured from the litigation department and used in creating actuarial models.
We welcome your feedback on this presentation and invite you to share it with actuaries in your office. Don’t forget to visit our Resources page to download our E-Books on litigation analytics and learn other ways to transform your claims litigation department.