Herbert Smith Freehills has developed a new in-house pricing tool, which uses machine learning technology to predict how much a new case is likely to cost.
The new tool, called HSF Jigsaw, has been designed by the firm to provide clients with more sophisticated data-informed estimates on the effort to execute and cost of a case.
Combined with the litigation experience of Herbert Smith Freehills’ lawyers and existing analytical tools already in use by the firm to assist in strategic decision-making, this new tool will help clients have more confidence on legal costs and be better prepared for their own financial planning.
HSF Jigsaw has been developed over two years for litigation groups in the UK. The tool leverages historical case data on which Herbert Smith Freehills has acted going back over a number of years and can draw on current cases on which the firm is acting as data is added.
Herbert Smith Freehills Partner Alexander Oddy, who has been leading the project, said: “HSF Jigsaw supports the effective and efficient delivery of litigation in way that is good for our clients. By combining our determination to innovate in house through technology with our unique historical expertise and pool of data, we can provide clients with new insights into just what it will take to deliver their cases to an effective resolution.”
Head of Legal Operations at Herbert Smith Freehills John O’Donoghue said: “In an environment where clients are looking for value for money and as much certainty as is possible in an uncertain process like litigation, HSF Jigsaw helps clients plan their investments more effectively. With new insights into what it takes to deliver commercial litigation, Jigsaw helps clients to call time on estimates that are unrealistic given the characteristics of their case.”