KPI Benchmarks : Supplemental Cost as a Percentage of Repair Cost (Auto)
- Benchmark Range
- Benchmark Average
- Benchmark Sample Size (n)
* Is High or Low Best:
Supplemental Cost as a Percentage of Repair Cost (Auto)
Supplemental Cost as a Percentage of Repair Cost measures the accuracy of the damage assessment of the insurance company’s adjusters. A high value for this KPI may suggest inadequate training protocols for adjusters, an absence of standardized checklists to go through during each damage assessment, systematic underestimation of repair costs or an overall resistance to claims payment. A high value for this KPI, in addition will lead to lower rates of customer satisfaction and higher operational costs for the adjusters function.
The dollar amount of supplements paid to claimants by the insurance company divided by the dollar amount of repair costs paid for by the insurance company over the same period of time, as a percentage.
KPI Calculation Instructions Supplemental Cost as a Percentage of Repair Cost (Auto)?
KPI Formula :