We work in specific Industries with leading industry players to develop solutions for the effective processing of legal information.
We create enabling ecosystems that package a range of legal information and support services on web-based platforms.
Inter-party negotiation processes are unstructured, with no business rules or supporting information management tools. This makes negotiation inefficient and costly. In addition, unresolved disputes are currently settled through long and expensive litigation processes.
The Nuvalaw platform currently focusses on two problem areas:
- Motor recovery claims between insurers – In the UK alone cost the industry £1.8 Bn to process 1.1 million claims each year.
- Resolution of personal injury claims – Determining the merits and liability in vehicle accident and personal injury cases result in many disputes. In the UK there are 1 million claims per annum and more than 1 million small claims outstanding on the Ministry of Justice (MoJ) small claims portal alone. It is clear that resolution (either through negotiated settlement or adjudication) of these claims would be beneficial to the entire industry and to customers.
The NuvaLaw solution
Blockchain, Big data
Data and transaction security,
Audit trail, Case record
Rules based collaboration
Digital information gathering
Expert decisions support
Fraud detection & prevention
ADR, Predicitive decisions, AI
Digitising at source
Centralised information sharing
for all role players
Communication tools, Facilitation
The bundling of various services on our cloud platform, with easy to use front-end collaboration and workflow tools, provides the seamless access and integration of many partner services in the NuvaLaw ecosystem. Our collaborative approach and skill sets (legal and enterprise ICT), track-record and established, trusted networks and clients allow us to co-create sustainable, scalable solutions within the insurance industry.
The UK based CII Report of 2012 already identified the problem of the high costs of disputed inter-insurer vehicle claims. However, until now, no company has delivered a sustainable solution. The founders (in their sister company, Equillore) have proved the NuvaLaw solution with five insurers, which collectively hold a 70% market share in South Africa. These companies are now moving forward with Proof of Concepts on the NuvaLaw platform.
The UK has a mandatory Personal Injury small claims settlement portal, but it has no vehicle damage settlement portal. In both cases, unresolved disputes are settled through litigation. Using innovative dispute systems design, the NuvaLaw founders have resolved more than 40,000 similar South African personal injury claims, resulting in a 36% reduction in costs.