Game on – SettlementAnalytics Automated Litigation Analysis Tool Means Business
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SettlementAnalytics has launched a first-of-its-kind automated litigation analysis platform, which applies mathematical game theory to predict the outcomes of legal conflict.
OptiSettle enables claimants and defendants to enter the costs of litigation and their beliefs about the possible outcomes of negotiation, settlement and trial, to calculate more realistic claim valuations, compute settlement probabilities, quantify implied trial risks and optimise settlement strategies.
OptiSettle’s trademarked LitigationSimulator means litigants can bench test their settlement decisions before going into live negotiations, with the system processing all of the possible outcomes and risks.
The platform, which has been five years in the making, means that for the first time litigants and counsel can price legal claims from an investment management perspective, quantify the risk of settlement offer rejection and reverse engineer the information implied in settlement decisions.
Robert Parnell, founder and chief executive of SettlementAnalytics said: “This is the first time that simulation and game theory have been combined to explore the financial variance of legal claims. We believe this is an important development in legal economic risk measurement.”
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