Brit Selects Bottomline Technologies’ Legal Spend Management Solution
Global insurer implements electronic billing system to reduce costs with Legal-X
PORTSMOUTH, NH (August 29, 2018) – Bottomline Technologies (NASDAQ:EPAY), a leading provider of financial technology that helps make complex business payments simple, smart and secure, today announced that Brit Ltd. (Brit) has selected and implemented the Company’s Legal-X electronic billing solution to reduce costs and streamline its legal billing process.
Brit, a global specialty insurer and reinsurer, worked with Bottomline Technologies to implement a new legal billing platform designed to enhance its existing claims workflow system, manage legal spend and reduce the administrative burden on its adjusters.
“The implementation of Legal-X will help Brit better manage loss adjustment expense, enhance internal efficiencies and track our legal expert spend,” said Sheel Sawhney, Group Head of Claims for Brit. “The solution complements our commitment to using technology and innovation to improve how we manage claims.”
Bottomline’s Legal-X solution helps manage the costs associated with legal expenses by ensuring that law firms are billing according to pre-approved rates and service level agreements. When an invoice is flagged, it is reviewed by the software platform and escalated to one of Bottomline’s legal experts for review.
“Our expert team of lawyers, auditors and bill review specialists have deep domain expertise in the property and casualty industry,” said John Kelly, General Manager, Legal Solutions, Bottomline Technologies. “We worked with Brit to develop a legal spend management program that will help improve operational efficiency and enhance vendor relationships.”
“We are focused on driving down claims expenses as and where possible,” said Sawhney, “With the availability of solutions such as Legal-X, we are encouraged by not only its immediate benefits, but also the potential for meaningful market intelligence on expert spend in the long-term.”
About Brit Ltd:
Brit is a market-leading global specialty insurer and reinsurer, focused on underwriting complex risks. It has a major presence in Lloyd’s of London, the world’s specialist insurance market provider, with significant US and international reach. Brit underwrites a broad class of commercial specialty insurance with a strong focus on property, casualty and energy business. Its capabilities are underpinned by robust financials. Brit is a subsidiary of Fairfax Financial Holdings Limited.
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) helps make complex business payments simple, smart, and secure. Corporations and banks rely on Bottomline for domestic and international payments, efficient cash management, automated workflows for payment processing and bill review, and state of the art fraud detection, behavioural analytics and regulatory compliance solutions. Thousands of corporations around the world benefit from Bottomline solutions. Headquartered in Portsmouth, NH, Bottomline delights customers through offices across the U.S., Europe, and Asia-Pacific. For more information visit www.bottomline.com.