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Claims Benchmarking

What is the Programme?

Running since 2004, with over 100 performance metrics for both Home and Motor claims, it measures and benchmarks all key aspects of the claims operation.

How does it work?

There are currently seventeen member insurers participating, who represent the majority of the market. Data is provided by member companies twice yearly. The data is confidentially collated and analysed and results presented back individually to member companies.

Some of the measures

  • Productivity measures - claims and telephone calls handled per person
  • Service measures - call length, abandonment rates, settlement times
  • Staff ratios - costs per claim, sickness and turnover rates
  • Engineers/loss adjustors - usage rates, costs per case, average cost per claim overall
  • External suppliers - usage rates of recommended repairers, replacement goods and builders schemes, solicitors, windscreen repair vs. replacement
  • Claims statistics - frequencies and average costs by causation, large losses, recovery rates
  • Third party claims - % with TP involvement, % settled direct with TP

What it does for you

Objective and quantitative understanding of your performance versus your competitors in all the key areas of claims performance. For example:

  • Identifies performance target levels which might have previously been thought unachievable within the company.
  • Provides real data to staff, evidencing their performance compared with competitors.
  • Identifies areas for cost saving either due to underperformance or through unnecessary over performance
  • Enables you to evaluate performance of external suppliers.
  • Drive a programme of significant change to deliver cost and performance improvements.
  • Enables you to ensure that your competitive advantage is not being eroded.

Actionability

In addition to getting a full set of comparisons, we analyse and present the key findings back to you, together with suggestions on areas needing action. This is a key part of the added value we bring and has resulted in clients producing significant savings.

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