In the years following the financial crisis of 2008, global insurance giant American International Group was recovering from a near-death experience. After a government bailout and a leadership shakeup, the New York-based company—including its legal department—was looking for new ways to trim down.
The company decided to deploy metrics to revamp its legal function. In 2012, Aaron Katzel, an in-house lawyer and former chief of staff to AIG’s general counsel, Thomas Russo, led the creation of a new Global Legal Operations Center. The LOC brought the company’s legal services, which are delivered all over the world, under one umbrella, where all activity could be analyzed and measured. “You wind up being more effective at what you do,” says Katzel, about his company’s use of metrics to drive decision-making. “You reduce the noise, you reduce the anecdote, you reduce the number of decisions made on the basis of bad information, and you start delivering against the priorities of your clients in a way that’s more predictable and that gets better and better over time.”
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