As claims rise in association with COVID-19 fallout, insurance professionals are using technology not only to increase claim handling efficiency, but also to boost productivity, draw analytical insights and drive legal spend management through e-billing adherence and associated triage.

LSG LLC is an international enterprise legal management software company, headquartered in Miami, helping leading enterprises and insurance firms drive end-to-end improvement of their matter management by offering 360 degree AI-enabled solutions to reduce billing non-compliance, driving an average of 11% of net legal spend savings per year. LSG’s key offering is Mercury ELM™, an enterprise legal management software that drives adjuster efficiency and law panel spend management for its clients. With clients in over 30 countries, LSG has an international presence, yet focuses on U.S., Canadian, U.K. and European clients.

The company has induced artificial intelligence and machine learning into its software offerings, which accelerates the rate at which in-house legal processes can be automated. It’s core software, Mercury ELM, includes legal spend data analytics, matter management, claims management, e-document management, calendaring, budgeting, vendor/legal panel rankings, and predictive data analytics.

LSG differentiates via the quality of its product and the overall ROI, which tends to average about ~10x spend on the software. Overall industry ROI average is 7.6x, so the company offers a “value alpha” of ~2.4x your money.

It’s well known that outside counsel can be overly burdensome in terms of cost and often comes with a fair amount of client management. To overcome this recurring issue, LSG offers a matter management software that has saved clients over $1.2B as of today, including examples of increasing claims adjusted processing times by ~46x.

Tapping into an industry that has traditionally required extensive manual effort, claims and matter management, LSG has made it possible for in-house legal departments to take a breather. This paradigm shift has resulted in automating a substantial percentage of a claim adjuster’s job. By assisting with hefty and technical operations, introducing automation, and driving down billing non-compliance, LSG has made it possible to eradicate the panel oversights that previously resulted in money left on the table and less time to run the enterprise.

LSG strives to constantly provide its wide customer base spread across 70 countries with updated technologies and secure systems. It has turned out to become a leading legaltech company that generates over $1.2B savings for its clients. The mere idea of automation in the insurtech space is a reality with the added benefit of substantial savings and more time.

LSG has proved the famous saying, money saved is also the money earned.