PHILADELPHIA and COLUMBIA, S.C., December 14, 2000 -- Mynd Corporation (NYSE:YND), today unveiled its enhanced, Web-based, legal bill review software system, LitigationAdvisor version 1.2. This new edition adds sophisticated budgeting and planning capabilities to its many features. LitigationAdvisor helps users process and administer insurance claim invoices, as well as develop and manage related legal reports for all lines of insurance business via a Web browser.

Users submit standard budget requests directly to their law firms via the Internet, providing their legal counsel with required plans to complete.  These plans cover overall budgets, phase-level detail budgets, and task-level detail budgets. The phase and task codes are directly related to the Uniform Task-Based Management System (UTBMS) Codes.   Law firms respond by submitting their timekeepers' names and proposed dollars for the budgets. Users either agree or consult with each other on any part of the budget, based on the system's prompts.  Invoice line items are automatically synchronized with the budget so users can be notified of any irregularities, such as threshold notification and budget violations.

Mynd LitigationAdvisor now manages multiple payment guidelines.  This means invoices are automatically validated per corresponding guidelines, eliminating manual checks.  Its guidelines are integrated with those published by the Defense Research Institute (DRI.)

Mynd LitigationAdvisor Release 1.2 lets users filter an invoice to seek and find certain tasks, activities, expenses and timekeepers for analysis.  The analysis process also has been enhanced to allow a user to apply compliance violation across multiple line items at the same time.  This can be used with the filter process to expedite any necessary manual review.  For the expert auditor, the application will allow multiple invoices to be accessed for analysis as well.

Mynd LitigationAdvisor employs the latest technologies and methodologies so that users can leverage the most advanced reporting capabilities.  For example, Mynd LitigationAdvisor's database has been expanded to capture additional data elements to support Electronic Funds Transfer (EFT) payments.

Headquartered in Columbia, S.C., Mynd is a leading provider of systems, services, sourcing, and eBusiness solutions to the global insurance and related financial services industries. Mynd's mission is to empower clients through its collective knowledge, creativity, and vision, to help them work smarter. Information about Mynd's risk management products and services can be found at www.mynd.com/riskmaster/nr.asp.

Return to RMIS-Web

Return to Press Releases/Announcements