The insurance sector stands as one of the largest industries globally, yet despite its longstanding presence dating back to the Industrial Revolution, it seems to have lost some of its pioneering spirit over time.
The investment priorities of insurance companies worldwide highlight the modernization of applications, cybersecurity, Artificial Intelligence and operational efficiency with a focus on Customer experience. However, the legal domain within this sector appears to remain somewhat distant from this transformation. It is precisely the legal area that operates during litigious phases, which can drag on for extended periods and play a crucial role in the delays experienced by policyholders.
Policyholders expect processes such as policy management, claims handling and compensation requests to be digitized. These processes, alongside many others, require resources from various areas (administrative, legal, financial) and involve not only internal staff but also essential external stakeholders: assessments need to be made, documentation analyzed, negotiations conducted and disputes potentially litigated. The legal domain cannot afford to remain untouched by digital transformation and, dare we say (despite the skepticism of many lawyers and attorneys), Artificial Intelligence itself. Only by doing so will it be possible to keep up with the growing volumes without the need to scale up teams in parallel. It’s time to enhance the path of automating routine tasks and better allocate specialized resources.
At Blue Screen, we have been observing and researching experiences in the field of Artificial Intelligence that will significantly contribute to these aspects. While legal tasks require a differentiated analysis based on legal interpretation and expertise, the truth is that the journey of Artificial Intelligence can be initiated: identifying situations that require the same treatment; defining decision workflows and gradually advancing to ensure effective support to legal department employees, freeing up their time for tasks that AI cannot handle. At Blue Screen IT Solutions, with our LMS – Legal Management System, our goal is to bring resources in this domain to the market that are genuinely useful.
A legal-tech solution for the legal domain also adds value to clients, providing faster responses, understanding and action. The LMS – Legal Management System is Blue Screen’s solution for legal case management, covering Pre-Litigation and Litigation, ensuring connectivity between various departments of an insurer and between them and external stakeholders, integrating with the core system.
(2024, April) Leaders Forum, Who is Who in the Insurance Sector, Jornal Económico, page 31