Archive: October, 2006
According to the Coalition for Government Procurement (a vendor lobby group in the US), the Clean Contracting Act proposed by Democrat Rep. Henry Waxman is “scary as hell”. Sounds pretty bad. So what’s in this bill that has the vendor community all in a tizz?
According to a recent article in Washington Technology, the bill seeks to clean up government procurement in several ways:
But were too afraid to ask. Precedent automation. Document assembly. Online legal services. Disruptive innovation. Precedent economics. It was all under the microscope in Sydney last week at the Precedent Automation Conference. A rare gathering (physical and virtual) of document automation experts came together to reflect on the past, present and future, and made some interesting predictions about the coming revolution in the way documents (especially legal documents) are produced, delivered and consumed.
So, are we facing a revolution in the delivery of legal documents?
Starting at the consumer end of the market, Richard Granat (dialing in from Florida) argued that web based document assembly services are already eating away at work traditionally done by small law firms, like “digital termites”. Not only are some online legal solutions faster, cheaper and “good enough” compared to traditional lawyering, but in some cases they may be available for free, with online advertising funding the service. Freewilldocs.com is already experimenting with an ad-funded business model.
With Lloyd’s having tried and failed with the big bang approach to taking its insurance market online (Kinnect was shut down earlier this year), things are now happening by stealth. Or STEALTH, as Guy Carpenter calls its new online system… “Sabotage and Terrorism Electronic Application Linked to Hiscox”.
The online system allows GCFac brokers in Latin America to place and document political risks quickly and easily, and in a way that meets the FSA’s contract certainty requirements, as Erik Lakatos explains:
At its simplest level, if we receive a submission, we can send it directly to a Hiscox underwriter. They can print out the submission, analyse the risk and reply to us in under ten minutes with a quote.