* Is High or Low Best:
New Claims per Adjuster measures the productivity and caseload of claims adjusters within the company. A low value for this KPI may indicate inadequate training protocols for adjusters, an overstaffing of claims adjusters, poor claims assignment protocols for adjusters, etc. A low value for this KPI may also suggest a high backlog of unopened claims, which leads to increased cycle times and high claims processing costs.
The total number of new claims opened divided by the average number of adjusters working for the company over the same period of time.
The average amount of time (measured in calendar days) required to settle a property and casualty (P&C) insurance claim, from the time the claim is reported (i.e., first notice of loss, or F...
KPI Type : Service
Formula : (Sum of P&C Claims Settlement Cycle Times) / Total Number of P&C Claims Settled
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