{"id":49234,"date":"2025-06-13T19:31:11","date_gmt":"2025-06-13T19:31:11","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=press_releases&p=49234"},"modified":"2025-06-13T19:31:11","modified_gmt":"2025-06-13T19:31:11","slug":"weightmans-law-firm-launches-insurtech-ai-driven-predictive-analytics-tool-for-insurers","status":"publish","type":"press_releases","link":"https:\/\/my.legal500.com\/developments\/press-releases\/weightmans-law-firm-launches-insurtech-ai-driven-predictive-analytics-tool-for-insurers\/","title":{"rendered":"Weightmans law firm launches Insurtech AI-driven predictive analytics tool for insurers"},"content":{"rendered":"

National law firm, Weightmans LLP, has unveiled its latest innovation in predictive analytics \u2013 PREDiCT Volume \u2013 a powerful data-driven solution designed to improve reserve accuracy, cut claims lifecycles and reduce indemnity spend in low-value personal injury claims.<\/strong><\/p>\n

<\/p>\n

PREDiCT Volume marks the next evolution in Weightmans\u2019 analytics suite, following the firm\u2019s proven success with its flagship PREDiCT Large Loss tool, which delivered \u00a3101 million in savings for insurers last year.<\/p>\n

Targeted at claims across Motor, Employer\u2019s Liability and Public Liability valued up to \u00a350,000, early pilot results show that PREDiCT Volume delivers clear financial and operational benefits. Compared to handler-approved reserves, which exceeded final settlement costs by nearly 59%, the tool\u2019s projections were just 8.6% above the actual paid amounts, helping to reduce capital lock-up by an estimated \u00a318.7 million. Claims handled with the tool were resolved 14% faster on average, cutting delays and legal costs, while projected savings on indemnity spend reached \u00a33.82 million across the pilot portfolio.<\/p>\n

Will Quinn, partner at Weightmans and lead on the PREDiCT project, said<\/strong>: \u201cWith PREDiCT, we\u2019ve already shown how augmented intelligence can unlock exceptional value in large-loss claims. PREDiCT Volume now brings that same transformation to lower-value, high-volume cases \u2013 a space where consistency, speed and accuracy are critical.<\/p>\n

\u201cThis isn\u2019t just about technology for its own sake, it\u2019s about helping insurers make better decisions that ultimately lead to better outcomes. The pilot data speaks volumes, and we\u2019re confident PREDiCT Volume will set a new standard in claims analytics.\u201d<\/p>\n

Developed in-house by the national law firm\u2019s data science team, PREDiCT Large Loss was introduced to the market in July 2021. Analysis of settlement outcomes, calculated from a portfolio of more than 140 complex claims settled between July 2021 and December 2024, demonstrated significant improvements in reserving accuracy, reduced the median lifecycle of claims by 7% overall, and lowered overall indemnity spend.<\/p>\n

The latest model update, PREDiCT 2.1, which incorporates over 12 months of additional settlement data and updated claims inflation information, went live in May 2025. Testing of the updated tool has demonstrated yet further improvements.<\/p>\n

ENDS<\/strong><\/p>\n

\u00a0<\/strong><\/p>\n

Editors Notes:<\/strong><\/p>\n

Weightmans is one of the UK\u2019s most respected and award-winning law firms, with over 1,600 people across offices in Birmingham, Cardiff, Glasgow, Leeds, Leicester, Liverpool, London, Manchester and Newcastle. In January 2025, Weightmans was awarded Top Employer status for the 18th time with a top five ranking, by global body, Top Employers Institute.<\/p>\n

At Weightmans, we believe in the power of people, innovation and partnership to provide strategic business insight and deep expertise to a range of private companies, public sector organisations and individuals.<\/p>\n

By thinking differently allows us to see the possibilities others don’t. We see the possibility of envisioning a better future, for better relationships and in people, whoever they are. We see the possibility in everything.<\/p>\n

Our vision is to be a Top 30 law firm.<\/p>\n

For further information please contact Richard Lackey, PR Manager on 0151 243 3328 or email richard.lackey@weightmans.com<\/a><\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-49234","press_releases","type-press_releases","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases\/49234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases"}],"about":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/types\/press_releases"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/media?parent=49234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}