Nuvalaw Revenue and Competitors

NuvaLaw is a legaltech company that designs and implements digital platforms, revolutionising the way legal information exchange is managed and how contracts, claims and disputes are settled. Based on NuvaLaw's bespoke legal protocols, and using smart technology, NuvaLaw's products help resolve disputes by processing legal information in a standardised way, working with one version of the truth and leveraging the power of ecosystems in the high volume insurance claims space. We provide the contextual hub for data exchange and smart technologies by combining legal protocols, services and smart technologies in a collaborative way rather than point solutions and out-dated legal business models – like the billable hour or abrasive court proceedings. NuvaLaw provides clients with agreed legal protocols to embed, project manage and automate standardised processes and agreed bilateral or Service Level Agreements. Insurers and law firms have well established systems to support their operations. NuvaLaw does not compete with these, but rather integrates and supplements communication between these systems. NuvaLaw charges transactional platform fees and monetises data analytics through partner services in the marketplace. NuvaLaw can help save: 1. up to 40% in legal costs, 2. up to 20% in managed fixed recoverable costs over the lifetime of a typical claim 3. Up to 40% of the time to settle claims traditionally and up to four times the time of court hearings by using our ODR solution 4. Opex and working capital savings The biggest saving is the insurers' reserves requirement due to known costs and shorter times to settle claims.