Insuranceciooutlook

Top 3 eDisocvery Tips for Insurance Professionals

By Insurance CIO Outlook | Friday, January 10, 2020

Insurers are always seeking ways to improve and optimize their eDiscovery process to defensively manage litigation matters and reduce expenses and risks.

FREEMONT, CA: Insurance providers around the world are facing a growing volume of litigation matters and a complex array of compliance requirements. The wealth of data that must be preserved is complicating this issue. The legal departments of top insurance companies are looking to improve their eDiscovery processes to manage this growing volume of litigation while managing risks and reducing expenses. Here are some tips that can help insurance professionals to practice eDiscovery.

• Preserving the Appropriate Data

Much of what happens in the eDiscovery process is dependent on having the information relevant to the dispute, which is neither altered nor damaged. So, it is imperative that all relevant data must be preserved. Failing to implement a legal hold in insurance can have serious consequences. To ensure relevant data is not destroyed, a legal hold notice should be sent and acknowledge by every person likely to possess or control potentially relevant information.

• Understanding the Importance of Metadata

Metadata in eDiscovery is used for searching, sorting, and reviewing the data in the review platform. In the world of eDiscovery, modifying metadata can have serious repercussions. If metadata is not properly preserved or collected by insurance professionals, it will be seen as the spoliation of evidence of insurance cases. As metadata holds extremely vital information in the insurance litigation process, insurance professionals should realize the essentiality of collecting and preserving it.

• Controlling Risks and Costs

By understanding the impact of eDisovery on insurance cases, insurance professionals must take control of costs and risks before they implement it. A little education on eDiscovery will better equip insurers 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 on the uptick, ensuring the security of data is essential than ever.

Since insurance litigation involves unique eDiscovery considerations, it is essential that insurers must understand the risks and benefits associated with this electronically stored information. The above considerations can surely help the discovery efforts of insurance companies.

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