Litigation Analysis, Mitigation & Benchmarking of Defense Attorneys
Providing Claims and Risk Leaders with Analytical Foresight to Reduce Litigation Costs
Navigating the world of workers compensation claims and related litigation remains complex. As a result, employers are looking for new analytical platforms to help save costs, increase employee engagement and satisfaction and provide better claims outcomes.
Although employers (and their Claim Administrators) follow best practices when managing their claims processes, experience shows a certain number of these workers compensation claims will become litigated. Research from Aon’s Casualty Laser Diagnostic database indicates that attorney involvement on a workers’ compensation claim increases total claim costs by as much as 10 times, claims take twice as long to resolve, and injured employees miss an average of three times more days of work.
Building on the strengths of Aon’s award-winning LAMBDA (Litigation Analysis, Mitigation and Benchmarking of Defense Attorneys) offering, LAMBDA 2.0 is an integrated, easy-to-use claims platform that provides users with unmatched tools to avoid unnecessary litigation and better manage litigated claims resulting in better outcomes. LAMBDA 2.0 delivers a holistic approach to claim and litigation management, starting at the front-end of the process and continuing throughout the claim’s life cycle. Infused with artificial intelligence, LAMBDA 2.0 uses machine learning algorithms to improve the claim management process in four critical ways:
- Litigation Avoidance
- Attorney Selection and Panel Optimization
- Improved Settlement Tactics
- Portfolio Reporting Capabilities
Holistic Claims Litigation Solution
LAMBDA 2.0 is offered as a secure, cloud-based SaaS solution that provides users with: 1) real time alerts, 2) self-service capabilities, and 3) panel management tools. AI and machine learning allows LAMBDA 2.0 to have direct application and impact for organizations ranging from middle market to Fortune 100.
LAMBDA 2.0 InfoSheet