Herbert Smith Freehills wins Innovation in Data-enhanced knowledge award at the FT Innovative Lawyers Europe Awards 2024

The global arbitration team uses the firm's data from a portfolio of over 1,000 arbitrations to improve advice to clients and deliver value for money. Those insight cover subjects relevant to the shape, duration, cost and outcome of claims – leading to greater precision in predictions on issues that matter to clients like duration, outcome and cost.

The FT assessed the project across three areas, originality, leadership and impact, awarding the firm a mark of 8 in each area for a total score of 24. In its Innovative Lawyer: Europe special report, the FT notes that the project was developed in response to client calls for greater predictability of legal costs in disputes and indicates that firm is expanding the model into more practice areas.

Herbert Smith Freehills was also awarded ‘Highly commended' in the innovation in productising legal services category for its development of a tool to map ESG reporting requirements, as well as awarded 'commended' in the innovation in talent management category for its development of the Living Pension. 

Partner Charlie Morgan commented: "We are delighted to win this award. At Herbert Smith Freehills our leading global portfolio of arbitration work puts us in a unique position to resolve our clients' biggest and most complex disputes.  This project helps us to stay at the leading edge of the market and to give our clients the detailed, tailored and valuable insights they have rightly come to expect from our firm in this area. We are now seeing the fruit of a ten year data-driven strategy in arbitration, and have a strong foundation on which to continue to build."

The FT Innovative Lawyers Awards Europe 2024 is a rankings report and awards for lawyers based in Europe, which are determined through a unique methodology developed by the FT and its research partner, RSGi, to rank lawyers on innovation. The report and award highlight the firms and in-house teams who are digitally advanced and using innovative approaches to deliver exceptional value to business and society. The report also profiles outstanding leaders and individuals who are bringing innovation to the practice of law.