Insurance Benchmarking Report
This 20-page benchmarking report includes benchmarking data for 8 insurance performance metrics, or KPIs, including Claims Processing Cycle Time, Loss Ratio and more. Each KPI in this report includes a chart outlining high-to-low performer data, a detailed KPI definition, calculation instructions and a summary of high-performing company attributes. Stop operating in the dark - benchmarking is a major step in identifying potential improvements within any bank. This report will give you a head start that you can't find anywhere else.
Which metrics, or KPIs, are included in this report?
This 20-page report includes benchmarking data (in easy-to-understand chart format), detailed definitions, measurement instructions and high-performer characteristics for the following 8 Key Performance Indicators (KPIs):
- Claim Settlement Cycle Time (Life)
- Claim Settlement Cycle Time (P&C)
- Combined Ratio (P&C)
- Cost per Application (Life)
- Cost per Claim (P&C)
- Loss Ratio (P&C)
- New Policy Issue Cycle Time (Life)
- Underwriting Expense Ratio (P&C)
Download a Sample Insurance Benchmarking Report
Frequently Asked Questions
Q: How do you collect and validate your data?
A: From real-world consulting engagements with Fortune 500 leaders. We’ve spent 25 years conducting original research and anonymizing data from our engagements with top companies around the world. Every single data point we collect is scrutinized by our analysts to conform to established baselines and our rigorous in-house validation process. We won’t serve it up to you unless it meets our tough standards for utility and value.
Q: How much information will my Benchmarking Report contain?
A: Enough to produce a useful benchmark. And rest assured that it’s all current, validated, and useful. We only include data that’s been collected in the last five years. And while sample sizes vary by KPI, the average is 25, and the high end can surpass 1,000.
Q: How often do you update your reports?
A: Every year. We’re constantly gathering, scouring, and processing new data. We update our reports based on trends our analysts detect in the data, as well as the demand from our consulting clients and customers like you.
Q: Your download-able reports look great. But I need something custom. Can you help?
A: Heck yes. Our crack research teams just love custom assignments, and would be delighted to perform targeted research tailored to your specific requirements. Find out just how fast and affordable this is: Email us (firstname.lastname@example.org) or call us at 866.650.2888 and one of our friendly professionals will be happy to answer all your questions.
Bill Collection (Insurance Premiums)
This workflow template illustrates the collection of outstanding insurance premiums from individual clients. Purchase and download this template in PDF, Visio and PowerPoint formats, and cus...
Type : Workflow Template
Process Participants : Collections Investigator, Collections Analyst, Credit Investigator