Available from SNL iPartners
Position the claims operation to provide very focused and responsive service to policyholders and claimants. Monitor and manage allocated and unallocated loss expenses. Verify that your reserves are tracking as expected. Drill down into detailed claim data by a specific account, line of business or geographic territory if there is a sudden or unexpected increase or decrease in claim activity. Set alerts to automatically generate a notice when certain thresholds are exceeded or specific activities occur. With the iPartners solution you have an unprecedented new level of information available to help better manage the claims operation.
With the iPartners solution you can measure claim financial data like frequency, severity, paid losses, incurred losses, loss adjustment expenses incurred, outstanding reserves, reserve adequacy, net paid losses, net LAE paid and many more.
In addition, you have access to metrics that will help you manage your human resources more effectively. Negative experiences for policyholders when they have a claim can have a severe impact on your company’s retention rate. With the Insurance Scorecard TM you can monitor the caseloads of all of your examiners and adjusters and modify their assignments to ensure the most effective use of your staff and contractors.