CHICAGO, May 29, 2015 /PRNewswire-USNewswire/ -- The strategic partnership of Novus Law, LLC and its client, Fireman's Fund Insurance Company (FFIC), was named a 2015 "Value Champion" by the Association of Corporate Counsel (ACC) last week. The collaboration was honored for the development and implementation of several successful initiatives which resulted in transformative change for the FFIC legal department—and cut the company's legal spend by $19.3 million over the past three years.
The ACC Value Champions award is a component of the annual ACC Value Challenge, which promotes the realignment of cost and value of legal services. "We commend Fireman's Fund Insurance Company and Novus Law for being champions of change in the legal industry," said Veta T. Richardson, president and CEO of ACC, in a press conference last week.
The initiatives driven by Novus Law and FFIC's legal department encompassed outside counsel relationships, internal process improvement and innovations through technology. Collaborative teams from both organizations implemented a document-related discovery process, knowledge management application and outside counsel guidelines to improve the efficiency of legal services and reduce overall litigation costs by 25 to 35 percent.
"The cost savings, although significant, weren't really the most important thing," said Deanna Johnston, FFIC associate general counsel and vice president litigation. "The new process really changes document-related discovery, compressing multiple reviews into a single step. It changed the way we work for the better."
In addition, FFIC and Novus Law co-created and deployed an early case assessment tool which enables clients to see their case come to life three times faster than usual, a tremendous advantage in forming legal strategies. As a result, FFIC resolves one in 12 cases (or about 8.5 percent) early.
"We're honored to be among this year's elite group of 12 corporate legal departments and law firm winners," said Novus Law CEO and Co-Founder Raymond Bayley. "It's exciting to see visionary leaders invest in building real partnerships with their legal service providers to advance the delivery of legal services. As a result, corporate legal departments are able to create extraordinary value within their companies."
The complete list of the 2015 ACC Value Champions, along with additional details related to the Fireman's Fund Insurance Company and Novus Law, LLC submission, can be viewed online at: www.acc.com/valuechampions.
About Novus Law, LLC: Novus Law focuses exclusively on providing corporations and law firms with document review, management and analysis services for litigation, investigations, corporate transaction, contract management and other document-intensive legal matters. Novus Law's award-winning and independently certified processes, quality management, and innovative technologies provide clients and their law firms with measurably better and less expensive results. For more information, please visit www.novuslaw.com. Follow Novus Law and Ray Bayley on Twitter: @NovusLawLLC and @RBayley.
About ACC: The Association of Corporate Counsel (ACC) is a global legal association that promotes the common professional and business interests of in-house counsel who work for corporations, associations and other private-sector organizations through information, education, networking opportunities and advocacy initiatives. With more than 35,000 members in 85 countries, employed by over 10,000 organizations, ACC connects its members to the people and resources necessary for both personal and professional growth. By in-house counsel, for in-house counsel.® For more information, visit www.acc.com and follow ACC on Twitter: @ACCinhouse.
SOURCE Novus Law, LLC