Welcome to 2015. We get a fresh slate to work smarter, possibly harder, and to continue to make a difference in the lives of all who come in contact with us. I'm not a big believer in New Year's resolutions, since they're usually broken as fast as they are made. However, I am a huge proponent of doing things to the best of my ability — doing just enough to get by never really flew in our family.

That same perspective applies to the business of insurance — serving policyholders to the best of our ability — being fair, ethical and providing the best service possible under the policy parameters.

How do we measure success or failure on a claim, as well as the performance of vendors, third-party administrators and others involved in the insurance claims process? Marilyn VanderLey outlines some very specific key performance indicators (KPIs) your company should be tracking on a regular basis. She lists the measures recommended for supplements, subrogation, cycle time estimatics and a host of other factors companies should be tracking on a regular basis.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.