Precedent: Rethinking How Claims are Settled Between Law Firms and Insurance Carriers with Jim Andrews

The Maximum Lawyer Podcast

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25d ago 36:15

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Are you looking for a way to streamline your law firm’s efficiency with claims? In this episode of the Maximum Lawyer podcast, Becca Eberhart chats with Jim Andrews about his innovative platform, Precedent, which aims to improve the efficiency of attorney-handled claims.

Jim shares what Precedent is trying to achieve within the legal space. Precedent tries to bridge the communication gap that exists between plaintiff firms and insurance carriers, which can be a complicated relationship. Since both areas work with each other frequently and still use outdated methods to share information, Precedent uses AI to streamline and standardize administrative tasks and communication.

Jim shares how AI is being used to reduce timelines for claims making their way between both industries. One of the features of the AI technology being used is extracting all the necessary information insurance carriers need from documents the legal firm provides. When it comes to this important information, the system can identify missing or incorrect information on the spot. Since it can be spotted quickly, it provides legal firms the ability to adjust and change what is needed. This ultimately limits the need for unnecessary and lengthy communication between both sides.

Take a listen to learn more about Precedent!

00:23 The mission of Precedent

1:29 The communication problem between firms and insurance carriers

13:04 The implementation of AI in streamlining injury cases

17:43 Addressing the communication problem

Tune in to today’s episode and checkout the full show notes here.

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