Insurance professionals are seeking ways to improve the e-Discovery process and manage insurance litigation matters.
FREMONT, CA: Insurers face growing litigation matters and increasingly complex compliance requirements. The wealth of sensitive data that must be preserved is complicating this situation. Top insurers are looking to improve their e-discovery processes to manage growing volumes of litigation while addressing risk and reducing expenses.
• Storing Relevant Data
The eDiscovery practice is reliant on having the information relevant to the dispute, which is neither altered nor damaged. So, it is essential that all relevant data must be stored. Failing to deploy a legal hold on insurance can have severe consequences. To ensure relevant information is not destroyed, a legal hold notice should be sent to every person who is likely to control potentially relevant information.
• Preserving Mete Data
Metadata in eDiscovery is harnesses for searching, sorting, and reviewing the data in the review platform. In eDiscovery, modifying metadata can have complex repercussions. If metadata is not properly preserved by insurance professionals, it will be seen as the destroying of evidence of insurance cases. As metadata holds an extremely vital role in the litigation process, insurers should realize the vitality of collecting and preserving it.
• Reducing Costs and Ensuring Safety
By knowing the impact of eDiscovery on insurance cases, insurers must take control of costs and risks before they deploy it. A little knowledge of eDiscovery will arm insurers better to vet eDiscovery providers ahead of time. By assessing providers and focusing on available resources, insurers can reduce costs and ensure the safety of data. With cyber breaches rising, ensuring the security of data is significant than ever.
Since insurance involves unique eDiscovery considerations, it is important that insurers must understand the risks and benefits associated with this electronically stored data. The above considerations can surely help the discovery efforts of insurers.