Cybersettle management faced a dilemma: how could they turn his company, which provided confidential online services for the settlement of insurance claims, into a profitable enterprise? Begun during the heady days of the Internet "dot-com fever," the company now has to revise its business plan and strategy to penetrate the tightly held insurance industry. Cybersettle proposed three stages, the blind bidding system that meet the demands of the plaintiff with the proposals from the insurance companies. If rates are close to each other in each round, the system will split the difference between the rates and announced a settlement. Such a service can save dollars for the insurance companies and the time for plaintiffs and their lawyers. However, deciding how to market this product is not an easy task. While many companies have tried to dispute resolution to take advantage of the Internet, few succeeded. "Hide
by Michael A. Wheeler, Gillian Morris Source: Harvard Business School 15 pages. Publication Date: December 4, 2001. Prod. #: 902158-PDF-ENG
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