How LitRisk works
From project model to expected value – explained in detail
You already know why LitRisk is the better alternative to Excel. Here we show you exactly how the platform works in detail – step by step, feature by feature.
01 · Project models
One model, a hundred consistent claims
Models define planned costs, cost centers, formulas, calculation logic, statutory fee rates and project-specific rules in one central place. Every new claim automatically uses the same logic.
- Define planned costs and cost centers once, centrally
- Formulas and calculation logic as reusable building blocks
- Statutory fee rates and project-specific rules per model
- Consistency across the whole portfolio instead of copy-paste between spreadsheets
Screenshot: project model editor
02 · Creating claims
Pick a model, everything else is automatic
When creating a new claim, you only pick the matching project model and enter the claim-specific data. Cost centers, formulas and calculation logic are generated automatically.
- Only claim-specific data needs to be entered manually
- Cost centers and formulas are generated automatically from the model
- Significantly less effort per new case
- Fewer sources of error thanks to less manual entry
Screenshot: creating a new claim
03 · Claim grid
Every claim, no more spreadsheets
The claim grid shows every claim in your portfolio with all relevant information in one view. Columns can be expanded to reveal context without losing the overview.
- All claims and metrics in one searchable view
- Expandable columns for additional context
- Filter, sort and group as usual – just without Excel
- One source of truth for the whole team
Screenshot: claim grid portfolio view
04 · Claim detail
Every claim, down to the detail
The detail view shows actual costs, status, documentation and every project-specific field of a claim – and lets you edit them directly.
- Actual costs compared against planned costs
- Status and processing history at a glance
- Documents and notes right on the claim
- Project-specific fields from the underlying model
Screenshot: claim detail view
05 · Dashboards
Widgets for every view of your portfolio
Configurable dashboards show portfolio overview, metrics, forecasts and performance – for the full picture as well as individual sub-portfolios.
- Portfolio overview with the most important metrics
- Forecasts for the expected portfolio trajectory
- Performance analyses per sub-portfolio or period
- Freely combinable widgets for different perspectives
Screenshot: dashboard widgets
06 · Expectation calculator
The current expected value of every claim
Before a project starts, lawyers model the legal process and enter probabilities for each instance and outcome. This produces a current, mathematical expected value for every claim. Throughout the project, these assumptions are continuously compared against actual results.
- Legal process modeled with probabilities per instance and outcome
- Current expected value for every individual claim
- Ongoing comparison of assumptions against actual results
- Spot early whether the portfolio is trending better or worse
- Track how portfolio value and case value are developing
- A grounded basis for deciding whether a settlement is worthwhile
Screenshot: expectation calculator with probability tree
07 · Outcome simulation
Play out possible outcomes before they happen
Simulations show how different instances, cost trajectories, returns and settlement scenarios affect the portfolio – a grounded basis for strategic decisions.
- Cost and return scenarios across multiple instances
- Risk assessment for different trajectories
- Settlement scenarios compared side by side
- Impact on the overall portfolio visible instantly
Screenshot: outcome simulation
08 · AI assistant
An assistant that knows your portfolio
The AI assistant answers questions about claims, models and metrics directly in the context of your portfolio and supports day-to-day work in LitRisk.
- Questions about individual claims or the whole portfolio, answered directly
- Support for analyses and reports
- Context-aware instead of generic
Screenshot: AI assistant in portfolio context
09 · AI-powered extension
LitRisk adapts to your company – not the other way around
AI can extend LitRisk on a project-specific basis: new calculations, new fields and new logic can be added specifically for your use case.
- New functionality and calculations on request
- New fields and logic for your specific requirements
- Continued development aligned with how you actually work
Screenshot: configuring an AI-powered extension
10 · APIs
Connected to law firms, providers and internal systems
APIs let you import data, automate workflows and connect LitRisk to firm systems, service providers and internal tools.
- Imports from existing firm and specialist systems
- Automated workflows instead of manual data transfer
- Connections to service providers and internal systems
- Open interfaces instead of a closed silo
Screenshot: API and integration overview
11 · Security
Traceable down to the last detail
Audit history, versioning and clearly governed rights ensure every change to a claim stays traceable – GDPR compliant and audit-ready.
- Complete audit history per claim
- Versioning instead of overwritten intermediate states
- Clearly governed access rights per role
- GDPR-compliant processing of sensitive data
Screenshot: audit history of a claim
12 · Convexio support
Personal guidance from the very first import
Convexio supports the migration from Excel, builds custom extensions and handles project setup – with personal support instead of an anonymous ticket system.
- Migration of existing Excel portfolios into LitRisk
- Custom extensions for your requirements
- Personal project setup instead of self-service onboarding
- A direct line to the team building LitRisk
Screenshot: migration and onboarding progress
Convinced? Get started now.
Book your demo and see how your portfolio feels inside LitRisk.