FSS Industry Internal law departments report that 30%-50% of their annual budgets are spent on outside counsel fees. But did you know that advances in cognitive computing and reading unstructured data have been shown to generate savings of 22%-30% in annual outside council spend? In one case, an Insurance client with over $1.3 B in legal per year in legal counsel spend was shown a savings of almost $400 million over two years using IBM Watson.
Join this webinar to learn:
- How transparency helps reduce legal cost variability and justify fixed fee pricing arrangements
- How legal is changing now and what insurers can expect over the next couple of years in decreased costs
- The small steps you can take to enable increased insight, quality and efficiency of legal services for your firm
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