21ST CENTURY COST TRACKING

SOLUTIONS FOR COMPLEX LITIGATION

We all know how COMPLEX, EXPENSIVE, and UNWIELDY costs and the tracking of costs can be!

In this presentation we will go over the tools you need to:

• Track, Monitor, and Allocate Costs In Complex Litigation Efficiently

• Reduce Cycle Time

• Maximize Technology Enhancements & Change Parameters with Real-time Allocations

SAVING COSTS AND AVOIDING HUMAN

ERROR

HOW TO TRACK, MONITOR, AND ALLOCATE COSTS IN COMPLEX

LITIGATION

VS

OLDNEW

TRACK and ALLOCATE costs to numerous parties in a lawsuit!

Be Able to INSTANTLY factor in: Tender Dates Cessation Dates Exhaustion Dates Self-Insured Retentions Percentage Allocation Settlements

COST ADMINISTRATION SOFTWARE

CASE STUDYConstruction Defect Client Insured by Liberty Mutual

Goals: - Create a clearing house where all invoices were submitted tracked and coded into the appropriate categories to litigate costs effectively.

- Allow client to create budgets for different categories and forecast costs.

Results:- OVER $900,000 reconciled in out of pocket payments that was never submitted into the allocation to the responsible parties.

-Eliminated the paper shuffl e and human error costs with real time reports.

DUE DILIGENCE

INCORPORATING OLD INTO THE NEW

As the saying goes ‘old habits die hard’ so make your software work for you!Invoices for fees & cost can be

submitted in the format that works best for you.

Including:• Mailed Paper Invoices• PDF Documents• Email• LEDES format

Take out the data entry methods and upload the invoices directly into the portal which minimizes work effort and maximizes the involvement of computerized document tracking and review systems using modern technology.

OR

Track and reduce costs in the future with the predictive coding method.Removes the “eyes on every document” approachAutomates the process to reduce human error costs

Predictive coding groups and organizes potentially relevant documents in a way that permits human

reviewers to maximize their review time and look at potentially related matters together.

PREDICTIVE CODING METHOD

“Train” the computer program!• Reduces the amount of non

relevant documents to be reviewed

• Saves Time• Saves Cost• Enhances Control

CYCLE TIME REDUCTION

METHODS

Expert

Attorney

Accounting Department

With multiple carries involved in the litigation each carriers receives a separate invoice for a %

of the original face amount.

This process can take weeks, if not months!

Result: Unhappy expert, frustrated attorney, and frustrated claim handler!

Invoices Mailed

Old Workflow Process

New Workflow Process

System sends an email directly to attorney with invoice copy for approval

Invoices are uploaded

directly to the cost

administration portal

Attorney logs in to secured cost administration portal to approve or reject the invoice with

specific comments advising of the rejection. NO invoices are paid unless attorney approves the

invoice!Once approved INSTANT receipt and IMMEDIATE

allocation!

TECHNOLOGY ENHANCEMENTS

AROUND REAL TIME DATA AND END TO

END SOLUTIONS

HOW WE’VE EVOLVED!

Desktop

Laptop Mobile Apps

Tablets

Advanced Internet Security

Advantages:Multiple Year StrategyMobile PlatformsWeb Secured PortalsReal-time Information

DOCUMENT MANAGEMENT SOLUTIONS

The cost of preserving and storing documents are significant!

Creating a powerful, adaptable, smart, and secure e-document system is essential to cutting time and costs!

Wondering how you achieve

that?

• Paperless

• Searchable

• Email Integration

INSTANT COMMUNICATION

and now

• Instant Alerts• Notifications• Portal to Personal

Calendar• Shared Online

Reports

• Emails• Diary Notes

Calendar Appointments and Notifications

OLD

to

CONTACT US

About JDi Data Corporation

We innovate and empower. For 30 years, JDi Data Corporation has innovated software development. As a proven leading technology solution provider and developer, we specialize in standard and customized insurance management software solutions that streamline your work processes.

We pride ourselves on listening to what you say, and responding with some of the top products available in the market. Our integrated software delivers accuracy, claims audit solutions, and improves workforce.

Our Mission Our mission is to actively pursue and innovate intuitive solutions with creativity and a passion to exceed expectations. We do that by listening to your needs and responding with comprehensive software that fits and improves how you do business.

http://www.jdidata.com954-938-9100