There is no sensation like being the game changer. From catching the winning touchdown to brokering the million-dollar business deal, the thrill is beyond compare. It is a chance for that often elusive moment of fame. For some it is fleeting, but for those who block, tackle, and execute with perfection, it can last a lifetime.
After years of managing claims organizations by day and coaching football by night, I discovered that the two share many similarities. Just as proper execution on the gridiron leads to success, the same holds true in the insurance industry, where simple mistakes, improper training, and inefficiencies can prove as costly as injuries, turnovers, and loss of downs.
While some claim that winning isn't everything, it was Vince Lombardi who put it best, "If winning doesn't matter, why do they keep score?" The answer is no different than why claims organizations measure metrics with a constant emphasis on bottom-line results.
But what should be measured? From productivity and expenses to loss ratios and turnover, there is no shortage of metrics in many organizations. Often, metrics are used to measure other metrics, resulting in a myriad of reports that often don't truly reflect what is really going on, adding to confusion among staff resulting in inefficiencies and inconsistencies.
Arguably one of the most effective measurements is the timeless approach of quality assurance. Much like reviewing game-day films, a team is assembled to review open and closed claims. The benefit is a holistic approach to all aspects of the claims process, which provides a much better methodology for identifying gaps, weaknesses, or deficiencies.
By establishing a more complete organizational profile, carriers can often achieve much greater gains than measuring individual statistics, which often drive unintended consequences. Consider the difference between measuring cycle time, such as report to contact or report to inspection and overall quality. When focusing solely on timeliness, carriers run the risk that while the metrics may be met, the quality may be lacking. Oftentimes, recorded statements from contacted parties or estimates from inspected vehicles are lacking critical elements simply because more importance was placed on timeliness than accuracy or outcome.
In a QA-driven world, every aspect of the claim is analyzed and scored. It is the totality of the circumstances that drives the results, which will push the bar consistently higher as the organization gains a competitive edge in the marketplace.
When looking at your bottom line the reality is that winning is everything. The companies that do it better, faster, and smarter than the competition will move ahead of the pack. Through effective blocking and tackling, carriers can have a positive impact on everything from first notice of loss and investigations to estimatics and recoveries.
By giving definition to the X's and O's on the claims playing field, managers can assume the challenges with a much improved game plan. Just as no coach should ever settle for anything less than a playoff run, no manager should settle for anything less than superior results.
Closing gaps on the production line is no different than closing them on the gridiron, resulting in smoother processes, reduced cycle times, improved quality, and accurate results. By focusing on the basics, Blocking and Tackling will provide the essentials for a winning organization.
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