Risk management competition shifts focus to AI and technology solutions

The Law Society of Scotland’s annual risk management competition is turning its focus to solutions based on technology and artificial intelligence.

Entries for the 2024 Innovation Cup are now open. Scottish solicitors, paralegals, trainees, other staff working in a legal team or firm, and student associates are invited to submit solutions to issues affecting the Master Policy, which provides compulsory professional indemnity insurance for Law Society members.

The winning entry will not require technical knowledge but must offer an idea to harness the potential of AI and technology.

Paul Mosson, the Law Society’s Executive Director of Member Services and Secretary to the Insurance Committee, said: “As we celebrate the Law Society’s 75^th anniversary and look to the future of the profession, this is the perfect time to reshape the Innovation Cup. Technology and AI are a key part of that future.

“We’ve built up a fantastic community of technology experts who will help deliver the winning idea alongside Lockton. Our judging panel will be keen to know how the entrants’ ideas would work in this digital age.”

Ed Ambrose from Master Policy lead insurers RSA said: “We are in an unprecedented age for technical innovation and digital solutions. To this end we are seeking entries that will use technology to provide a solution to a problem or streamline a process, especially in areas where we receive the most claims and complaints against the Master Policy. We’re excited to see the innovative solutions this year’s entrants put forward.”

The competition is being run by the Law Society of Scotland, in association with Master Policy lead insurers RSA and brokers, Lockton. Competition entries are invited to submit ideas – from a simple tweak to something completely new – to improve systems, processes or controls within private practice firms.

Entries will be judged by members of the Law Society’s Insurance Committee and representatives from RSA and Lockton.

Find out more about this year’s Innovation Cup and how to enter on our website.