Life Insurance Policy Administration KPI Benchmarking Report
Benchmarking Report Bundle
Life Insurance Policy Administration KPI Benchmarking Report
Benchmarking Report Bundle
Which metrics, or KPIs, are included in this report?
This 37-page life insurance operations benchmarking report includes benchmarking data for 18 Policy Administration performance metrics, or KPIs, including Customer Satisfaction (CSAT), Employee Turnover Rate, and more. Each life insurance KPI in this report includes a chart outlining high-to-low performer data, a detailed life insurance policy administration KPI definition, calculation instructions and a summary of performance between peers. Stop operating in the dark - benchmarking is a major step in identifying potential improvements within any Life Insurance Provider. This report will give you a head start that you can't find anywhere else for tracking KPIs in Policy Administration, pertaining to Life Insurance or other similar products.
- Customer Satisfaction (CSAT - Pensions & Employee Benefits)
- Cost per Transaction - Pensions & Employee Benefits
- Operating Expense per In-Force Policy (Policy Administration - Annuities)
- Operating Expense per In-Force Policy (Policy Administration - Individual Life)
- Percentage of Transactions Processed within SLA - Combined Group
- Transactions Processed per Employee - Combined Group
- Billing: Outbound Quality
- Transaction Submission Error Rate (Inbound Errors - Pensions & Employee Benefits)
- Employee Turnover Rate
- Employee Turnover Rate (Involuntary)
- Employee Turnover Rate (Voluntary)
- Span of Control
- Complaints per Policy - Pensions & Employee Benefits
- Complaints per Policy – Annuities
- Past Due Premium Payments ($; by Age - Individual Life)
- Policy Lapse Rate - Group Life
- Policy Lapse Rate - Individual Life Mean Time to Detect Cybersecurity Incident
- Mean Time to Repair (Critical Systems)
Frequently Asked Questions
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