Scotiacorp

Big Data Powers Lawsuit Claim Processing

Opening-up a new era for law firms, emerging technologies are helping lawyers manage the challenging terrain of evaluating legal claims, and proceedings with millions of pages of documents and complex records culled from multiple fragmented sources. Big lawsuits involving complicated issues of health, medicine and injuries requiring capital and the ability the manage mountains of data over an extending period of years. Big data is therefor a boon to legal claim processing, management, and claim resolution.
Data technologies are transforming the legal sector dealing with healthcare, medicine, medical products and pharmaceuticals. The data technologies and internet platforms are enabling greatly expanded opportunities and solutions for law firms. Complicated problems involving information and records involving thousands of people and thousands of interacting information points can be improved and managed with emerging technologies and specialized programs.
Data technologies helps analysts and law firms understand more about medical products such as medical devices and pharmaceuticals, and how human conditions or behaviors relate to various health products. Accelerated data analysis and development of sophisticated metric programs enables law firms and evaluators establish a scoring, grading or credit system to manage and use data in a manner that benefits the law firm, the individuals involved in legal matters, and the evaluators of individualized legal claims. The marketplace for data technologies in the legal sector is huge with multiple legal liability settlements involving specific products exceeding several billion euros. Critical for law firms is having the data and analysis to support legal claims to entitle legal parties to participate in compensation schemes that are increasingly requiring data, documents, and some type of scoring or grading of data and claims to secure funding of compensable claims. In other words, major manufacturers and insurers are requiring requisite levels of data to participate and proceed in litigation, and a lack of data material or failure to provide data-driven information may prevent a law firm from securing payment for claims under modernising schemes of claim compensation.
Managing legal claim data without the benefit of new data technology has traditionally been very expensive, very fragmented, time intensive, and often imprecise. With new data technologies, and the opportunities of the Internet platform, lawyers are better able to source and allocate capital to drive big data applications or programs, artificial intelligence, and promoting power. Consequently, legal industry investment has increased tenfold over the last few years, with companion computer power involving data analysis growing by over 200 percent, and the amount of data exponentially expanding.
Looking ahead, Scotiacorp is poised to help law firms launch new data technologies that transform marketing, retention, claim processing, and resolution of compensable legal claims.

Building a Better Legal Mousetrap

The legal marketplace is observing transformational innovation in law firm finance and legal marketing. Instead of paper and pencil, Scotiacorp develops innovation with software, specialized systems, digital tools and experimental equipment. Dubbed the Lab, Scotiacorp uses Silicon-Valley style experimentation to program specialized systems tailored to specific legal matters, helping lawyers and law firms harness rapidly accelerating advances in technology by developing new methods and systems for legal marketing and medically-related lawsuit processing.
Some of the ideas and systems are shifting the real world of litigation. Initiatives have included medical products, orthopedic devices, engineering, and environmental matters. Scotiacorp suggest their success is a combination of brain power, new technologies, and initiatives develop for specialized law firms. The company works with law firms to development long-term technological advances and services.
The legal industry is pushing forward on increasingly large and complex matters, involving thousands of products, thousands of people, and thousands of individualized outcomes. By working with law firms to develop improved marketing, administration, and resolution systems, Scotiacorp helps solve big and complex problems.
With limited capital and older management systems, law firm undertakings in large-scale cases have traditionally been high risk, one-and-done, projects. Scotiacorp seeks to make it easier for law firms to significantly participate in large-scale undertakings, with the benefit of allowing the use of advancing technologies seamlessly in expanded engagements. Among the ways this is accomplished is access to unconventional lending and ligation finance, use of transformational database systems and software to make handling, mapping, and claim processing easier and more efficient for the law firms. The improved systems and advanced technologies have proven able to shorten the time and human tasking that once required more people, more time and more capital to complete a case.
Scotiacorp seeks to improve the lawsuit process for law firms. On the front end of a case, Scotiacorp can help law firms assess feasibility, review claims, plan logistics, and set up claim administration in a manner that was previously impossible without new technologies. Scotiacorp helps law firms become a well-oiled machine when undertaking large, complex, expensive lawsuits.

CRM - ONE OF OUR CORE SERVICES

One of the many things we provide is highly specialized Customer relationship management (CRM), which is our proprietary process and software system that we are constantly enhancing and customizing for specific litigation undertakings. We assist in document retrieval, document and information management, integrating a customized consumer interface, with interactions with customers, facilities, agencies and consumers. We are fully compliance with all applicable laws, regulations, rules and directives.

We have assisted with CRM, support and services in litigation matters involving thousands of consumers involved in medical device litigation. Depending on the specifics of a litigation matter, courts may order notice to thousands or millions of consumers and may additionally order to exchange of a variety of information to be collected from the claimants including personal and demographic information, medical device information, types of injuries, and more, to be collected, sorted, updated, indexed, and exchanged with various parties including the courts. The data collection and analysis of information is often time-sensitive, capital intensive, and often requires reviews of millions of documents and data points. The CRM process is essential and critical to the advancement of litigation matters, which sometimes takes years to process to conclusions, and may fail to proceed if information is not collected, sorted, and exchanged as required by the court process involving thousands of consumer injury claims and millions of pages of documents. Recent medical device litigation has observed unprecedented collection and exchange of documents and information, with over 100 million pages of documents produced in a recent medical device case involving several thousand consumers claiming serious injuries.

Our CRM is one of many business services provided to deliver results, while meeting strict requirements about compliance, deadlines, and client expectations. We strive to streamline processes, increase profitability, lower capital investment, and improve profitability through the lifecycle of litigation matters our proven CRM systems, support and additional services.