A Risk Management Software Application For Law Firms
Available now on a low cost, no contract, pay-as-you-use basis.
We provide law firms with a robust system for matter level risk management, ensuring compliance with the Solicitors’ Regulation Authority (SRA) regime that came into force in October 2011.
Our Risk Management Software Offers
- Comprehensive Legal Risk Analysis
- Simple to Use
- Fast Results
- Risk Mapping Process
- Anti-laundering Alerts
Our software can be accessed by a single button (“assess risk”) integrated into your own system.
Conceived and developed by the Chief Executive Officer and implemented by the IT manager of Bates Wells Braithwaite, it has been tried, tested and refined for over 5 years. They converted a poor ‘risk and professional indemnity claims’ record into an excellent one, with a saving approaching £600,000 in PI premiums per year.
LegalFutures.co.uk - City firm to license out matter risk management system that saves it £600k a year in PII premiums
A City law firm is to license out to other practices a matter risk management system that has helped eliminate claims against the firm in recent times and saved around £600,000 a year in professional indemnity insurance (PII) premiums. Read full article here
The Times - Jonathan Ames reports on our Risk Management Software...
"A third successive year of sky-high professional indemnity premiums could force dozens of law firms to the wall, experts predict as solicitors scrambled this week to meet the deadline for obtaining annual insurance cover..." Read full article here (PDF)
History & Further Technical Details
In 2006 I conceived and installed a matter level simple, but devastatingly effective, matter level risk management system which is now undertaken by every fee earner on every new matter.
It takes 2 to 3 minutes for the fee earner to complete, it gained the highest level of fee earner compliance immediately and is now undertaken 100%, and without grumbles from fee earners and partners. Its impact was immediate, long-lasting and dramatic in reducing the number of reported PI incidents and more importantly PI claims. That, more quickly than we had hoped, led to a dramatic reduction in our PI premium annual costs. We have saved £3 million since 2006 and around £700,000 in 2012. Read full detailed document here (Word Doc)