NuvaLa aLaw is re-ima imagining gining th the e provision - - PowerPoint PPT Presentation

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NuvaLa aLaw is re-ima imagining gining th the e provision - - PowerPoint PPT Presentation

Mar 13, 2024 127 likes •302 views

NuvaLa aLaw is re-ima imagining gining th the e provision vision of le legal al service vices s to unlock lock th the potential ential of th the e digital tal econ conomy Our uncomfortable reality The current problem in motor

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NuvaLa aLaw is re-ima imagining gining th the e provision vision of le legal al service vices s to unlock lock th the potential ential of th the e digital tal econ conomy

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Our uncomfortable reality

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Congested information

  • exchange. 63%
  • f operational costs spent
  • n claims
  • settlement. Wasted time

And wasted costs.

63%

The current problem in motor claims settlement

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The Solution

NuvaLaw is an inter- party negotiation & adjudication platform that brings together tools, processes and services to reduce the time and cost to settle claims.

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40% reduced costs and indemnity payments, 90%

claimant lawyers participated due to increased revenue

Evidence from South African Bodily Injury project

40 000 personal injury claims processed 4 times faster than Courts

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Gaining traction with forward thinkers NuvaLaw’s Collaborative Methodology

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Managed processes to reach facilitated outcomes

Upload load

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Managed processes to reach facilitated outcomes

Ne Nego gotiat tiate e

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Managed processes to reach facilitated outcomes

Adjud judicat icate

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Pl Plat atfor

  • rm

m bu busine ness ss mo models dels ar are al already ady disrupting rupting reven enue ue an and cu customer

  • mer en

engagem agement ent in ever ery y industr ustry. By By 2022, 022, pla latf tform

  • rm bu

business iness mo models els wi will ll cr creat ate e new w ma mark rket t le lead ader ers s in 50% % of al all l industr ustries. ies.

Gartner : Predicts 2018

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A blueprint for building legal processing & settlement platform ecosystems

NuvaLaw Platform Architecture

Based on Gartner’s platform description

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Congest ngested d inform

  • rmati

tion

  • n excha

hange nge in un unreso esolved ed claims ms

63%

Of Opex

  • n claims

Lega gal l inform

  • rmati

tion

  • n Highw

hway Struc uctu tured red nego gotiati tiation

  • n & a

adjudi dica cati tion

  • n

FROM OM TO TO

> 2yrs

To settle 50%

  • f claims

£900

Paid to court

  • n ave. claim

>20%

Claims settlement Opex Saving

4x

Quicker to settle claims

£200

Less spent per ave adjudicated claim

Uni Unique e processes esses and disruptiv ruptive tech h make e us rele levant nt, , right ht now

The NuvaMotor Platform results

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Smart evolution through co-creation

  • En

Enhanced anced mana nagem gemen ent t inform

  • rmati

tion

  • n
  • Big data

a analys ysis s & transparen sparency cy

  • Predi

dicti ctive e analys ysis is on liability lity & qua uantum

  • AI

AI & machine hine learni rning ng

  • Blockchain

ckchain immu muta tabil bilit ity y leads ds to aut utomat mated ed smar mart contr ntract acts

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Benefits of blockchain

  • One

e versi sion

  • n of the

e trut uth h

  • Fraud

ud det etecti ection

  • n
  • Pa

Paymen ments ts

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www.nuv nuvala alaw.c .com

It always seems impossible until it’s done.

Nelson Mandela

“