As a legal department leader, are you looking for ways to identify the effectiveness as well as the value of the outside law firms that you retain? Liberty Mutual Insurance has been formally evaluating the performance of the thousands of outside counsel that serve the company during any given year for more than a decade. Several years ago, Liberty Mutual’s legal operations team developed a data-driven process that assesses both objective and subjective value metrics.
In our Value Drivers series, I interview legal industry leaders and innovators that are bringing transparency to legal performance in their own unique way. In this interview, I spoke with Kiran Mallavarapu, senior VP and manager, legal strategic services for Liberty Mutual Insurance, and Bruno Para, AVP and relationship manager for the company’s Central Division. This is the first of two parts of that conversation. Liberty Mutual Insurance is not a Qualmet customer.
What led you to start an evaluation feedback process for law firms?
One of the promises we make to our policyholders is to provide high-quality legal services in the most effective manner. To do that, we work with law firms that have a broad variety of skills and expertise. It’s essential that we consistently measure and track how they are performing through data as well as analytics to deliver on our promise.
How long have you have been measuring your firms’ performance?
We’ve been doing this for at least 15 years. Yet we started basing it on data for the past five or six years. The insurance industry has always been a very analytical industry. Over the last few years, people started asking for better quality metrics. They started to ask, how do you know which law firm is delivering what kind of service?
Qualmet is a cloud-based SaaS provider. Offering customers a single sign-on platform to objectively as well as easily evaluate the quality of service. Services provided by their outside counsel as well as alternative legal service providers. Many of the world’s largest law firms as well as corporate law departments collaborated in the development of Qualmet. The Qualmet tool uniquely positions users to quickly as well as easily measure the value delivered by their service providers. By coupling industry-aligned evaluation as well as legal metrics with objective benchmarking capabilities, Qualmet helps customers define and drive meaningful cost savings as well as value in their organizations. Qualmet’s searchable database of evaluated service providers ranked based on objective metrics is the first of its kind in the legal industry. Know Where You Stand™. Let Qualmet help you drive sustainable and meaningful value for your organization. Follow us on Facebook for updates.