Kennedys is considering taking external investment to develop a range of new litigation products, as the firm moves to capitalise on its forthcoming conversion to an alternative business structure (ABS).

The firm is currently piloting a web-based product, dubbed KLAIM, which will allow clients to carry out the initial stages of litigation themselves and help them to independently resolve low-value cases that are likely to settle quickly.

Kennedys expects that KLAIM, which will be sold under a licence fee agreement, will reduce the number of fast-track cases the firm handles by around a third and will instead allow it to focus on higher-value work.

The pilot, launched at the start of this year with one client, will conclude this spring, with Kennedys then planning to consider outside financing from entities such as private equity houses to develop the product further.

Kennedys chief executive Guy Stobart (pictured) said: "The legal landscape is changing very quickly, particularly in the insurance world, and we need to make sure that we are in step with it. It is about aligning the firm's products and services with our 
clients' interests."

The firm is also looking to take external investment to develop other products in areas such as the anti-fraud space, where the first stages of a claim often do not require the instruction of a lawyer.

The UK top 30 firm was the first City outfit to convert to a legal disciplinary partnership in 2009 to allow non-lawyers to join the partnership at the firm.