LexisNexis

Promises increased productivity, cost-efficiency, and competitiveness in the legal industry

LegalTech

Rocket Lawyer is an online legal technology company providing affordable legal services to businesses, families, and individuals. It offers a range of products, including legal document creation, business formation assistance, and access to legal advice from attorneys. Rocket Lawyer's platform is designed to make legal matters more accessible and user-friendly.
The company has helped over 20 million customers create legal documents, obtain attorney advice, and incorporate businesses since its founding in 2008. Rocket Lawyer operates a subscription-based model, where members gain access to a library of customizable legal forms, discounted services, and legal consultations.
Rocket Lawyer's core offerings include business formation services for LLCs, corporations, and non-profits. Through its online platform, users can easily file the necessary paperwork for establishing a new business entity in any US state. The company also assists with obtaining Employer Identification Numbers (EINs) and registered agent services.
Key features of Rocket Lawyer's business formation services include:
- User-friendly online questionnaires to gather information and generate formation documents
- Option for standard or expedited filing, depending on state availability
- Access to customizable legal templates like operating agreements and corporate bylaws
- Discounted pricing on formation and registered agent services for members
Beyond business formation, Rocket Lawyer provides members with unlimited access to a comprehensive library of legal document templates covering various personal and professional needs, such as contracts, agreements, and estate planning documents. Members can also consult with licensed attorneys through Q&A sessions or scheduled consultations on new legal matters.
Key customers and partnerships
Rocket Lawyer has established partnerships with various legal organizations and institutions as part of its efforts to expand access to affordable legal services. In September 2020, Rocket Lawyer announced its participation in a groundbreaking regulatory sandbox program approved by the Utah Supreme Court's Office of Legal Services Innovation. This initiative aims to provide more accessible legal services to Utah residents amidst the Covid-19 pandemic.
Rocket Lawyer has also collaborated with academic institutions, such as the University of Utah's S.J. Quinney College of Law, to explore innovative approaches to legal service delivery. These partnerships highlight Rocket Lawyer's commitment to leveraging technology and regulatory reforms to enhance access to justice.

Acendi Interactive provides software-as-service solutions for online security and authentification and legal documentation.  In addition to direct sales, Acendi uses its publisher partners as an affiliate sales network for its key products.

Rocket Lawyer provides online legal services to help users meet the legal needs of their families and business. It also offers free resources, documentation, cost-effective on-call lawyers, e-signatures, lawyer reviews and helps users to create legal documents and legal forms instantly with safe and secure storage that enables individuals, families, and business owners to get affordable and accessible legal services.

LexisNexis Legal & Professional is a provider of legal, regulatory, and business information and analytics that help customers increase productivity, improve decision-making and outcomes, and advance the rule of law around the world.

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LexisNexis launches LexisNexis Life Smart Path

Platforms that connect lawyers to clients (includes online listing, reputation, comparison, and booking systems) and those that support networking among lawyers.

Includes tools for intelligently extracting information from documents and flagging anomalies, the automated creation and simplification of legal documents, filing and serving documents online, and exchanging documents for discovery. Also includes providers of white-labeled digital legal documents and notarization tools that allow the notarization of documents online, assuring their security, authenticity, and integrity.

Tools to manage and digitize the legal practice of individual lawyers and law firms. Features include intake management, legal case/project management, team and client management, team collaboration, client communication and engagement, document storage systems, time and expense tracking, and billing and invoicing.

Includes platforms that provide legal content from various publishers; tools that support legal teams with conventional and contextual search of relevant case law and authoritative sources; and tools that search, analyze, and organize copious numbers of documents and large datasets. AI-based legal research systems replicate the work of a human legal research assistant and are referred to as AI lawyers/attorneys, digital lawyers/attorneys, or virtual lawyers/attorneys. Analytics tools include those that support lawyers with tracking trial cases, receiving email alerts for cases, and predicting trial timelines, along with those that mine big data to determine lawyers' success rates, when to settle, and when to press the advantage. It also includes tools for corporations that predict the outcomes of litigation.

Includes tools to manage large volumes of data; identify key issues for litigation, internal investigations, and compliance projects; and select relevant web content for use as evidence.

Software solutions that support regulatory compliance. Includes platforms that promote compliance among employees by providing simplified summaries of applicable legislation on-demand, and those that support compliance teams with tracking changes in legislation, sharing and tracking documents within the organization, and collecting evidence. IP/trademark management platforms include those that protect brands from online counterfeiting, digital piracy, and distribution fraud by scouring online marketplaces and social networks, along with those that offer simplified licensing solutions using digital rights technology.

Includes platforms that offer contract lifecycle management from their creation, negotiation, compliance, review, and approval, to execution, tracking, and monitoring. They can automate the processing of routine contracts with a high degree of accuracy and may include technology to organize, understand, and extract data from contracts. Also comprises tools for identity verification, electronic signatures, electronic registered delivery, and electronic time stamp.

Includes commoditized law solutions and do-it-yourself legal services for consumers (individuals, families, and business owners), as alternatives to engaging a lawyer or law firm. Examples include platforms that aid with immigration and asylum applications, consumer claims, class actions, closing funding rounds, and drafting simple contracts, wills, and divorce documents. Litigation finance platforms facilitate third-party funding for litigation. Such pre-settlement funding allows victims to pay their legal fees while awaiting a resolution.

Companies that use GenAI as a core part of their product offering for legal tech

InsurTech: Infrastructure

Providers of general, yet comprehensive, end-to-end solutions for insurance companies, covering various aspects of their operations. This includes core systems for policy administration, underwriting, claims processing, billing, and customer relationship management

Specialized platforms that offer lead generation and management services and tools for insurance providers. Tools can include telemarketing, internet, and social media lead generation, referrals, and lead analytics

Underwriting platforms that evaluate risks related to life insurance, health insurance, and related products such as disability and critical illness coverage. They may utilize medical underwriting criteria, genetic information, lifestyle factors, and demographic data to assess applicants' insurability

Platforms that specialize in assessing risks associated with property and casualty insurance, including home, auto, commercial property, and liability coverage. They may incorporate data sources such as property valuations, historical claims data, telematics, and weather patterns to evaluate risk factors accurately

Specialized platforms that streamline and automate claims processing workflows, from initial claim submission to settlement. They may offer software for claims intake, adjudication, fraud detection, and communication with policyholders and third-party service providers

Policy administration systems that focus on managing policy lifecycle activities, including policy issuance, endorsements, renewals, and cancellations. They provide insurers with tools to configure and manage policy rules, coverage options, and premium calculations. Platforms can also have additional functions for commission and performance tracking

Reinsurance technology providers offer a range of innovative tools and services to support reinsurers in managing their operations, assessing risks, and optimizing their reinsurance strategies. These solutions may include advanced analytics, catastrophe modeling, risk assessment tools, portfolio management systems, and underwriting platforms specifically designed for the reinsurance industry

New insurance models are disrupting a centuries-old industry with a focus on personalization and convenience

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