The leaders in litigation analytics want to move from amassing statistics to predicting outcomes. When that day comes, it’s going to change everything.
BLM, an insurance-focused firm in the U.K., announced this week a partnership with the London School of Economics that will advance its goals of becoming a leader in advanced data analytics. Three professors, including experts on decision-mapping, machine learning and an actuary, will work with the firm’s proprietary data to better understand the costs and outcomes of its cases.
Reporting on this development, The Artificial Lawyer said a “litigation prediction battle” is heating up among firms in the U.K. insurance space, with BLM’s rivals such as Clyde & Co and Kennedys making similar investments.
“The idea is to move from statistics to prediction,” said Andrew Dunkley, BLM’s head of analytics.
