Principle
Measurement of claims management performance and capabilities should be appropriate and regular.
Minimum standards
- Each managing agent’s claims team(s)should measure its performance via a claims implementation plan* which includes relevant KPIs*, relating to the delivery of claims-related objectives within the managing agent’s annual Agreed Business Plan(s)* and internal claims performance targets.
- Progress against the claims implementation plan* should be reviewed and reported on, within the managing agent, in writing quarterly with variances identified.
- Variances should be escalated to higher levels of authority if and as required by the managing agent’s policy.
- The managing agent’s criteria applied for the control, review and assessment of claim files* should be identified and in regular use.
Note: Terms with an asterisk are defined within a separate glossary of terms.
View glossary of terms (22KB, pdf)
