Key Risk Indicators (KRI) for Insurance Claims Measures

KRI (Key Risk Indicators) allows BI professionals from the Insurance area measure and control business risks.

• Free KRI Toolkit: Download now!
• Web-based KRI online with KPI Dashboard

KRI for Insurance business niche

The KRI for Insurance Claims Measures may address such indicators as:

• financial perspective
• % increase in average claim payment per case
• percentage decrease in expense payment per case
• legal cost incurred as a % of total cost
• % change in costs on claims processing
• claims processing perspective
• % of records properly documented
• claim settlement time
• % settlement of claims
• % increase in claim files managed by operator
• operational perspective
• % of no. of claims and new business policies issued
• claim paid amount as a % of first year premium
• claim paid amount as a % of renewal premium
• no. of claims per product
• efficiency perspective
• % decrease in customer complaints
• number of litigation per open files
• % decrease in fraudulent activities
• % reduction in average claim processing time

Why BI and risk specialists from the Insurance should KRI toolkit and indicators?

Key Risk indicators allows to estimate and control business risks..

Try the KRI Toolkit from Insurance Evaluation you will learn how to:

• build and use KRI;
• KRI: do-s and don’ts
• you'll have ready to use KRI template;
• you'll learn about practical application of KRI;
• toolkit includes KRI vs. KPI and Balanced Scorecard;