Category: Insurance

4 Insurance Claims Metrics to Measure and Benchmark Claims Department Processes

Besides determining the best ways to sell insurance policies to customers and ensuring that policy applications are processed in a timely manner, insurance companies must focus their benchmarking, business intelligence and operational reporting efforts on claims processing metrics, or their loss ratio will continuously rise. Here are 4 examples of insurance claim metrics and KPIs that every insurance company should be tracking to improve the efficiency of the insurance claim process.

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4 KPIs for Insurance Underwriters to Improve Customer Experience

The insurance industry is a competitive field to be in. Especially now when customers can “shop-around” by analyzing the reviews, stories and comments published by previous insurance customers. With so many companies to choose from and published pieces to influence customers, how can companies in the insurance industry retain the interest of would-be and current customers? Here are 4 KPIs for insurance underwriters every insurance company should be tracking to make sure they are meeting the growing demands of both the customer, and the company itself.

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6 Key Performance Indicators for Insurance Companies that Managers Must Measure and Benchmark During Business Intelligence Implementation

Professional liability, workers’ compensation, cyber liability, crime coverage – if you can dream of some type of risk, there is an insurance policy that covers it, and someone looking to buy that coverage.

Today, many insurance companies focus only on business Key Performance Indicators (KPIs) related to total dollar amounts of transactions processed and the high-level expenses that it took to process the work without diving into operations focused KPIs at the forefront of the business. Consequently, many productivity metrics tracked at the front line employee level are often overlooked by different departments at large insurers.

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