Inside Counsel: “Paralegal Power”

Fantastic article [PDF link; scroll down to page 3] about how AXA Equitable Life Insurance hired paralegals to save time, money, & turnover in attorneys. Like, duh……

"It’s a question many a CEO has asked his or her general counsel—Can we reduce legal department spending by bringing more work in-house?

"When AXA Equitable Life Insurance Co. CEO Christopher Condron posed the question last year, he didn’t get an immediate answer. Instead, he sparked an intensive self-examination of internal workloads that resulted in hiring paralegals to reduce the legal department’s reliance on outside counsel.

“’On a pure cost basis, it has allowed us to replace partner-level spending at law firms with paralegal-level spending internally,’ says General Counsel Richard Silver. ‘And something that does not show up in the budget is that it makes the jobs of our legal professionals more interesting and productive.’"