At its inaugural annual conference on October 24 in New York, the International Legal Finance Association (ILFA) gathered a group of litigation data experts to discuss the role of data in the legal industry.
“But when you actually are in-house, you realize that your clients are actually the business partners. They are not interested in your legal arguments. They are not interested in the case law. They want to know what the outcome will be, and the way that they make their decisions every single day is with data analytics, and they want their lawyers to do the same.”
- Dan Rabinowitz, Chief Executive Officer, Pre/Dicta
As CEO and Founder of Pre/Dicta, Rabinowitz points out the increasing importance of data analytics in litigation decision-making. While most companies recognize the value of data, they lack the breadth of experience in-house to evaluate their litigation portfolios as a legal finance provider could. Few companies and law firms engaged in litigation and arbitration have litigated the volume and variety of matters that would generate enough robust proprietary data to develop a strong litigation strategy.
When a legal finance company has reviewed hundreds of billions of dollars’ worth of commercial litigation and arbitration, as Burford Capital has done since its founding in 2009, it accumulates a significant body of data about commercial disputes. That gives Burford a database of critical information that its clients can use to identify, prioritize and extract greater value from litigation assets.
About the panel
The panel was moderated by Hon. John Cronan, Judge of the United States District Court for the Southern District of New York, and included panelists Josh Blandi, Chief Executive Officer, UniCourt; Richard Finkelman, Managing Director, BRG; Karl Harris, Chief Executive Officer, Lex Machina; and Dan Rabinowitz, Chief Executive Officer, Pre/Dicta.