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 as well as 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, as well as 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.
We’ve discussed the collection of key performance metrics, including subjective metrics that speak to your own definition of value. How do you then communicate the results with law firms?
We sit down either face-to-face or virtually. We can share a lot screen-to-screen, and we walk firm management through their metrics in a manner that makes the data actionable for them. Through this type of transparency and knowledge-sharing we are progressively working towards not only a greater understanding of the data but a greater commitment to the relationship, partnering for continuous improvement and encouraging the use of our metrics and analytics in daily operations. We also provide follow-up support, webinars and additionaly offer training for their attorneys, paralegals and staff if necessary.
How often do you review the information with them?
We review metrics frequently. For certain firms it is done on a monthly basis and for other firms on a quarterly basis. It’s a continuous, ongoing process.
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 and 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.