In 1996, JDi created a claims management system for complex financial litigation at the request of a third party claims management firm. At that time, most systems were only able to track and manage single party claims, but there was a growing need for a system to be used to manage and track multiple policies by multiple insurers who would share some of the same costs in both defense and indemnity to make the claimants whole. Claims Manager was the system created for that task.
Vendor Cost Control was the second step in the system, created to extend the capabilities of tracking and management. It was designed specifically to track those involved as contractors and subcontractors as opposed to the Claims Manager system which was created to track the developers and builders. The purpose of the software was to create a workflow that managed claims to bring the injured party back to whole.
Those who first used the system were lawyers and insurers who were defending complex financial claims. They used it to manage allocation distribution tracking and vendor payments for the defense costs and settlement costs in those complex cases. Which was what it was designed for.
As time went on, it became apparent that because of the complexity of the allocation process, the need to have someone manage the claims who was intimately knowledgeable on how the system worked, was best for a successful and seamless workflow for the client.
Vendor Cost Control has transitioned from what first began as a software product into a service offering VCC as a way to manage complex litigation allocations and agreements using a dedicated account manager for each firm’s claims.