Outside Counsel Recommends In-House eDiscovery Technology
When Hurricane Ike struck the Texas coast in 2008, it caused billions of dollars in damage, and triggered a wave of lawsuits against insurance companies in the region. Virtually overnight, many insurance companies found that they were ill-equipped to deal with the mountain of eDiscovery requests they were receiving – and they also realized that their current technology, methods and processes of responding to litigation were excessively expensive and required more time than was acceptable. They turned to their outside counsel for insight.
Although litigious situations like the current Gulf Coast oil spill and Hurricane Ike may be extreme, they illustrate the importance of having an immediate and insightful view into electronically stored data across the enterprise. They also point to the growing trend of law firms’ increasing their involvement with their client’s in-house technology, in an effort to improve cost savings, increase cost predictability and efficiencies.
For one particular insurance firm, in a case related to Hurricane Ike, outside counsel recommended that the company find a technology solution that could streamline, expedite, and ultimately reduce the costs of litigation. Given the potential magnitude of the cases it was facing, the agency needed a technology solution that could handle constant usage, execute several concurrent tasks and support multiple users.
Enter StoredIQ’s Intelligent Information Management Platform. StoredIQ can begin indexing data within just a few hours of being deployed, and offered the agency the high availability and scalability it needed.
The agency used StoredIQ’s one-time, fixed cost solution to eliminate processing and collection expenses by their outside litigation services vendor, saving money, and realizing a positive return on-investment in an exceptionally short amount of time. StoredIQ also helped the agency avoid duplicate or redundant review, which would have added more costs. Although StoredIQ discovered, indexed, and managed more terabytes of information, the amount of data that was ultimately sent to outside counsel for formal review was considerably less, and more relevant to the matter.
The old model of lawyers manually reviewing every document is being replaced as outside counsel look more to technology solutions to provide significant time and cost savings. Tell us- have you seen a shift in outside counsel’s focus on in-house technology?
Share TOPICS: eDiscovery, information management, insurance, oil and gas
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