Liberty Mutual Evaluates Outside Counsel: Part 9

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. Counsels 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. Those 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.

Part: 9 How Can Others Start Measuring Value?

RP:
What advice would you give to someone who is considering measuring outside law firms?

Mallavarapu:
Start by creating a road map of where you are today and where you want to get to, and make sure there are practical, achievable milestones in between. Don’t let perfection be the enemy of progress. Start somewhere, and over time slowly increase. Liberty Mutual’s journey involved continuous improvement. Yesterday we probably had a breakthrough, we are probably going to have a breakthrough the day after tomorrow, and every day we are improving, but you have to start somewhere. Come up with some basic metrics, start collecting them, analyzing them, and furthermore, start using them in your day-to-day decision-making processes.

About Qualmet

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.

Tags: No tags
0

Add a Comment

Your email address will not be published. Required fields are marked *