Settlement Intelligence implements more free updates for its customers
As insurance company settlement practices requirements continue to evolve, Settlement Intelligence helps law firms leverage technology to stay ahead of their competitors. Settlement Intelligence, the leader in providing advanced tools for legal professionals, is proud to unveil a set of groundbreaking updates designed to empower our subscribers. These four important new features, are available exclusively to Settlement Intelligence subscribers, at no additional cost:
1. Letter Setting Reserves: Enhancing Strategy and Negotiation
Settlement Intelligence is different from our "competitors" because we have significant experience in the field of personal injury law and demand letters. Unlike founders from the defense bar, IT, legal funding or the investment banking industry, we provide real tools for practicing plaintiff lawyers. Our new reserves letter is one of those tools.
State insurance laws and state insurance commissioners require that insurers set aside appropriate "reserves" to pay insurance claims when a loss occurs. In order to ensure that sufficient funds are available for settlement, lawyers need to inform the insurer of the facts of your case, and provide documents that support the settlement value you will seek when you write the demand letter. Often when the reserves increase, the adjustor is also changed to one with sufficient authority to settle your case. But unless you provide the documents necessary to increase the reserves well in advance of the demand letter, you can't get a sufficient settlement offer on your case.
Our new "Letter Setting Reserves" feature is a game-changer for plaintiff lawyers, paralegals, and law firm staff. It enables you to generate a strategically timed letter that sets reserves for cases involving more serious injuries. Settlement Intelligence instructs you how to best use the Reserves letter inside the licensing platform. A video on reserves will be posted soon for your staff to learn more about the importance of setting reserves and how to go about it most effectively to maximize settlement offers.
2. Duties Under Duress and Loss of Enjoyment of Life Indices
During his years of research into insurance claim software, Settlement Intelligence co-founder Aaron DeShaw, created special forms for these two types of claims. Together these two types of claims have approximately 200 factors, each of which carries a monetary value that is added to the settlement offer generated by the program.
These Duties Under Duress and Loss of Enjoyment of Life forms have intellectual property protection acquired by Settlement Intelligence, meaning Settlement Intelligence is the only demand letter platform that can contain these claims, and use these forms. The intellectual property rights to this content was recently acquired by Settlement Intelligence from Trial Guides.
These proprietary forms, used to collect information on Duties Under Duress and Loss of Enjoyment of Life, are now offered exclusively to lawyers licensing Settlement Intelligence. The forms help law firms gather pertinent details from your clients to outline two of the Top 5 value drivers in claims evaluation software.
Our competitors may advertise that they will tell a "story" about Duties Under Duress, but without our intellectual property rights they won't be including the factors in their demand letters. And without those factors in your demand letters, you won't be getting full claim value on your cases from their demand letters.
3. Case Analytics to Increase Settlement Offers
As Settlement Intelligence Co-Founders, Charlette Sinclair and Aaron DeShaw, discussed in their recent webinar, the case outcomes by other lawyers don't belong in your demand letters. But, tracking your own progress and reporting those to an insurer will help drive higher settlement offers. Now we are implementing analytics features that will help you internally track the outcome of all your cases regardless of whether they settle through pre-lit settlements, mediation, arbitration or trial.
If you license Settlement Intelligence and report your claim outcomes, you will receive incentives for sharing insights on cases powered by Settlement Intelligence. We will help you enter your past closed claims so that you can track your outcomes using Settlement Intelligence against your case outcomes before using our platform. Not only are we confident that your case outcomes will improve, but we will help you visualize it. Submit your claim outcomes and we’ll send you reports showing analytics that prove the improvements in your settlement outcomes.
4. Expert Demand Letter Consulting
Our competitors and their Silicon Valley investors seem to think that writing demand letters as a service is a breakthrough business idea. We've been writing demand letters for lawyers, and consulting law firms on demand letters since 2010. During that time we've fine tuned our demand letter method for lawyers throughout the United States, assisting lawyers in obtaining tens of millions of dollars in settlements, including many settlements of $1,000,000 or more.
We created Settlement Intelligence to allow lawyers direct access, 24 hours a day, 7 days a week, 365 days per year to our expertise through our AI demand letter platform. Instead of waiting a week or two, you or your staff get to create an optimized demand letter any time of day, in any location with an internet connection, and as soon as you are done entering data the demand letter is ready to send.
But, some lawyers like a highly experienced demand letter consultant to do the work and fine tune their demand letter. So, we are opening up our expertise to limited demand letter consulting.
This consulting is only available to law firms licensing Settlement Intelligence. The document upload portal is now available on the client directory page. The cost of consulting is $180 / hour, in addition to the monthly platform licensing fee, and is billed after the work is completed and before the demand will be sent. Consulting is not available to law firms who do not license the Settlement Intelligence platform.
Submit your client’s case documents and our demand letter experts will return a demand letter formatted to trigger the decision science software used by the insurer involved in the case. Also included in the demand package is a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis and medical chronology, or, “Treatment Timeline” upon request. The work is all done here in the United States and so you don't have to worry about violating the client's HIPAA protection by sending the clients medical records outside the country.
Exclusive Access: The Future of Settlement Intelligence
Settlement Intelligence is working on big things. Ideas that will change the practice of plaintiff personal injury law. As we roll out these features, the beta versions will be exclusively available to our best licensing customers who demonstrate they are willing and able to provide feedback on these advanced features. In doing so, these law firms will have a distinct competitive advantage against other law firms until the product becomes available to all lawyers. We anticipate the beta for this next significant upgrade to Settlement Intelligence to be available in the next few months. The exclusivity period is expected to last 3-6 months. During that time our customers will get significant value worth many times the monthly licensing fee. Law firms will be locked into their tier pricing and monthly demand volume during this time, so think ahead if you want to upgrade to a higher plan.
Now is the ideal time to become a Settlement Intelligence subscriber. As a subscriber, you will gain exclusive access to our next major update, poised to revolutionize the legal landscape. The next update leverages state-of-the-art OCR technology and robust AI capabilities all within a confidential and HIPAA protected platform, promising to set new industry standards and take your practice to unprecedented heights. Those lawyers who haven't licensed Settlement Intelligence before the beta testing begins will be excluded from using the new generative AI platform until we open up availability to all lawyers later in 2024. During that time, only law firms licensing the platform will be able to advertise to the public that they are using Settlement Intelligence's platform to increase their firm's settlement offers using Artificial Intelligence.
This is only the beginning of an intensive roadmap of new products by Settlement Intelligence that will change the personal injury field. Things that only people with deep expertise in plaintiff personal injury law would understand - removing the pain points of legal practice and providing solutions that will provide our customers a distinct advantage both in settlement and trial.
Embrace Innovation, Excel in Negotiations
Settlement Intelligence is committed to empowering legal professionals with cutting-edge technology. Our mission is to help you achieve optimal outcomes for your clients by staying ahead of the curve. Subscribe today to unlock the full potential of your practice and gain a competitive edge in negotiations.
About Settlement Intelligence:
Settlement Intelligence is a leader in providing innovative tools and solutions for legal professionals. Our decades of experience in law, and commitment to continuous improvement drives us to redefine the legal landscape, one groundbreaking update at a time.