AIG launches Legal Operations Company

AIG is launching a new company in January 2016, called the Legal Operations Company, which will advise external corporate clients on how to set competitive pricing for legal services. They should know, given the company spends over $2 billion in legal services per year and manages more than 1,500 law firms. Primarily targeting some 50 companies that spend more than $300 million on legal services per year with options to expend legal services to ‘smaller clients’. Bottom Line: Being in the ‘risk business’ is so 1990s. Most businesses will have to create value in new ways.