Bottomline Technologies, a provider of collaborative payment, invoice and document automation solutions to corporations, financial institutions and banks, has said that seven insurance firms have recently selected its legal spend management solution, Legal eXchange, to better manage outside legal spend.
Legal eXchange solution, supported by a network of more than 9,500 law firms, helps property and casualty insurers to bill, budget and report on their outside legal counsel via the web.
Bottomline said that the customizable Legal eXchange solution complements customers’ existing claims and payment systems, and includes reporting tools that provide insurance claims departments insight into real-time claims and billing data, increasing control over legal spend and improving litigation management processes.
Bottomline senior vice president and general manager Tom Gaillard said insurers want to better understand what’s driving their claims litigation expense. Legal eXchange provides the capability needed to manage and control ever increasing legal spend.
"We welcome our new customers to Bottomline and we are dedicated to their success. Their selection of Bottomline reinforces our leading capabilities in this strategic market," Gaillard said.