A year is a long time in legal tech and the past one has certainly been productive for Stewarts and Solomonic, a rapidly growing litigation analytics start-up.
In the summer of 2018, Stewarts became the first law firm to collaborate with Solomonic. Solomonic is now being used by a number of other major firms and companies and has been heavily featured in the legal and financial press. It recently received funding from Innovate UK to accelerate its machine-learning capabilities.
Throughout Solomonic’s journey, Stewarts has been an indispensable partner providing first concept-validation, beta-testing and a steady stream of feedback and suggestions.
Stewarts’ feedback led Solomonic to develop its innovative settlement data feature. Stewarts’ observed that as only a minority of cases conclude with a court determination, it is essential to try to identify the proportion of cases of differing types that either settle or are discontinued.
Such data could be highly informative, not just for the advice given to a client but also to a law firm, litigation funder or ATE insurer if an alternative funding arrangement is under consideration. It was Stewarts who gave guidance on the best way to access the court data that generates these insights.
Stewarts and Solomonic look forward to continuing to work together and broadening the platform’s data and features with a view to extracting the insights that can most powerfully assist Stewarts’ clients.