9 January 2024| Luminance, the pioneer in ‘legal-grade’ AI, today announced that Global Excel, a full-service provider of global healthcare risk management solutions, has deployed its next-generation technology to enhance insight and efficiency across the company’s in-house legal processes.
Now one of the largest independent assistance and cost containment companies specialising in the US market, Global Excel has grown rapidly over the past few years through a combination of organic growth, mergers and acquisitions. Throughout its fast-paced growth, Global Excel’s legal team’s headcount has remained relatively steady, but with workloads increasing and a need for improved contract governance, they sought an AI that could streamline contract review processes and drive efficiency across the board. Global Excel’s legal team therefore turned to Luminance’s AI for its ability to provide enhanced visibility into the status and workflow of contracts both pre- and post-execution.
With Luminance, the organisation was able to upload its ‘gold standard’ contract templates and immediately automate the review of routine contracts, such as NDAs. Luminance’s revolutionary Traffic Light Analysis uses a powerful combination of generative and analytical AI to visually indicate where terms differ from the organisation’s previously agreed wording, helping the legal team to instantly pinpoint areas in need of further review. As a result, Global Excel has been able to significantly reduce the amount of time spent on routine contract negotiations that have historically been a time drain for the legal team.
In the face of its growing enterprise data, Global Excel is also using Luminance’s AI-powered insights to extract key information from across its contract repository, such as termination dates, renewal periods and fees. Luminance has been particularly useful when conducting annual audits, as the in-house legal team has over 1,000 key datapoints at their fingertips. Prior to adopting Luminance, they would have needed to open every contract and manually review each one for key information. Now, Luminance’s advanced conceptual search tool is enabling the team to conduct more sophisticated queries of their documents and uncover critical findings within minutes.
Paul Reed, General Counsel at Global Excel, commented: “As Global Excel continues to grow organically and through strategic acquisitions and investments, our governance requirements have grown as well. It's clear that Luminance’s AI is going to be a huge time-saver, enabling us to do more with less time and resources. What we like so much about Luminance is that it’s an intuitive platform; it’s easy to use and understand how it works. Not to mention the exceptional support we get from the team!”
Eleanor Lightbody, CEO of Luminance, added: “I am delighted to see how Luminance’s AI has provided instant value to Global Excel, allowing its legal team to regain oversight of its contractual landscape and optimise governance. More and more, we are seeing the value of AI in driving efficiencies across scaling businesses, and I’m excited to see the role Luminance will play in Global Excel’s growth journey.”
About Global Excel
Global Excel is a full-service provider of global healthcare risk management solutions. Global Excel, together with its subsidiaries based in Canada, USA, Mexico, Europe, Africa, and Asia, offers a complete range of risk mitigation, cost containment, claims management and medical assistance services to over 366 clients located in more than 90 countries around the world. As a group, Global Excel will manage approximately 360,000 inpatient, outpatient and non-medical cases per year and processes in excess of $1.9B USD in healthcare claims annually.
Built on a proprietary legal Large Language Model (LLM), Luminance’s specialised legal co-pilot uses next-generation AI to automate the generation, negotiation and analysis of contracts. Developed by world-leading AI experts, validated by leading lawyers, and in use by over 600 customers in 60 countries, Luminance’s ‘legal-grade’ AI is a key component of any legal team.
Please complete the form below and we will contact you to arrange a demo of Luminance.
Please complete the form below to receive your Luminance brochure.
Complete the form below to receive a copy of the selected white paper
We will be in touch with you soon.