Leading independent business law firm Hall & Wilcox was named winner of the Lawtech Innovation in Legal IT Award at the annual Chilli IQ Lawtech Awards held in Sydney as part of the Lawtech summit.
The Lawtech Awards are described as “a unique, peer driven opportunity to acknowledge the movers and shakers of the Legal IT industry”. Lawtech says the awards recognize innovation and performance for new and existing IT projects.
Hall & Wilcox were declared winners based on a web application designed in conjunction with Neota Logic, which enables workers compensation insurance providers to pursue recoveries in just minutes.
Identifying potential indemnity claims against third parties was a previously time-intensive process, and insurers often found it difficult to identify recoveries in a timely manner as they are unable to commit the resources to the task.
“The app has allowed clients to identify tens of thousands in recoverable amounts they might not otherwise have discovered, by combining advanced, cost effective technology with decades of legal experience.
“Our team, led by senior associate Vanessa Porter and recovery specialist Krisha Bennett took a problem our clients faced and found an elegant way to solve it using a rules-based AI model.”
The application is currently available for use relating to Victorian and New South Wales claims, and can be used by insurance companies, specialized insurers, self-insurers, brokers and intermediaries. Hall & Wilcox says it may potentially be used by employers and anyone else that has exposure under a workers compensation policy.
Mr Perera said the application is part of the firm’s broader Smarter Law strategy.
“We recognize that clients need their legal service providers to do things more efficiently, be more cost conscious and provide innovative solutions to their issues. Smarter Law ensures we remain focused on being innovative and progressive in everything we do.”
Julian Uebergang, Managing Director of Neota Logic APAC, said the recoveries app is a great use case for its technology.
“We are proud to partner with Hall & Wilcox to deliver the recoveries app. It is a highly innovative solution which delivers real value to workers compensation insurance providers. We look forward to providing further efficiency across other industries and sectors.”
For more information on the application, contact: