Litigation broker TheJudge has launched a new price comparison service intended to speed up the process of selecting third-party litigation funding for cases. 

The Quick Indication (QI) Funding Service, which went live this week, offers litigators comparisons from around six different funders, together with their respective terms and conditions, within seven to 10 days of the case being brought to TheJudge. 

The offering, which will see the UK's largest litigation broker work with a host of funders, differs from the current process whereby funders often demand exclusivity when considering a case. This means that, if the case is then rejected weeks later, no other options have been explored in the meantime. 

TheJudge director James Delaney said: "The QI service has only recently become possible due to the increase in capital in the funding market. Until then clients had limited options. However, it has quickly become a buyers' market for clients as funders compete to win business through price-led competition."

Addleshaw Goddard litigation partner David Engel said: "Five years ago there was only a handful of funders, but now that fund managers are struggling to get a decent return on many traditional asset classes, litigation funding has become increasingly attractive as an investment option. 

"But from the lawyer's – and the client's – perspective, the process of securing funding in commercial litigation can be time-consuming and frustrating. Hopefully, this service will prevent that happening." 

Many brokers have moved into offering their own litigation funding in recent years, with Calunius Capital for example launching its own private fund in 2010.