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Claims executives face continuing pressures to perform on a wide front of activities. From setting up organizations to process claims efficiently, to finding the right personnel, to engaging external resources for handling litigation, and importantly, to establishing key performance indicators for expense and performance management. Legal bill review and processing is a daunting, detailed task, but one that can yield important benefits, including savings in legal bills and reductions in overhead and in-house expense. Technology and advances in data mining and data analysis software, such as Allegient Systems' Performance Management Suite, are providing insurance executives with new opportunities to make better-informed decisions. Executives can determine which legal firms are most effective and operate most closely to guidelines that define billing costs and standards. They can also review their internal processes, identifying areas that are most effective and areas that may need attention.
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