Does your claims department
need an objective tool to:
- Systematically identify and prioritize
improvement opportunities?
- Benchmark your claims and business
practices against outside standards as part of your annual planning
or continuous improvement process?
Do you need objective standards in all claims key result
areas?
- Is your best practices standard your peer companies,
Canadian companies, North American companies, specialty companies,
international companies or combinations of some or all?
- Are there significant untapped opportunities
for improvement in your claims department to help offset rising
loss and combined ratios, falling ROE’s and to improve
customer retention and satisfaction?
- Could claims solutions be implemented by redeploying
some existing capital and human resources without a significant
new investment?
We have a quick, productive and relatively
inexpensive solution to help your company supercharge and prioritize
claims performance improvement to the standard your company
can reasonably afford to implement.
The TSI Claims Scorecard 1000©
is an objective and comprehensive snapshot analysis that
scores Property and Casualty claims department financial/numeric
and non financial/numeric practices and performance against “best
practices” under the following 5 claims key result areas:
- Claims General Management Practices: Planning,
Organizing, Leading, Performance Managing and Changing
- Claim Value Containment
- Customer Satisfaction
- Internal and External Expense Containment
- Effective Use of Technology/Equipment
There is no expensive consulting time
spent on fact finding or staff interviews or focus groups or file
audits that normally dominate a lengthy study and deflect claims
personnel focus. Instead, there is a question set that will take
your senior claims executive one day to answer electronically.
About 1000 penetrating questions. All but one question require
a “yes” or “no” or rating answers. Just
by systematically answering our detailed questions on best practices,
you will obtain ideas on new practices that will pay for our service.
(Check the Scorecard Instructions to see how the questionnaire
works.)
Your company will have the TSI Claims Scorecard
1000 results shortly after delivery of the completed question
set to us. TSI has weighted each question and will score answers
to the questions. Your company will receive a Scorecard rating
on each of the 5 key result categories above and a cumulative
claims department rating. You will also receive an executive report
supporting the specific reasons for the ratings.
If your company is part of a group of companies
with more than one claims department, we could compare practices
to identify the best practices systematically. If a company wishes
to validate the answers to questions against internal documentation
this can be done as certain pertinent questions are identified
for these purposes; however, this is not necessary to obtain the
TSI Claims Scorecard.
If a company would like us to apply the TSI
Claims Scorecard 1000 to only one part of their claims operation
or apply only one part of the question set (e.g. Vendor Management,
Claim Value Containment or Expense Containment), we could do so.
If a company only wants a high level key question analysis, we
can do that.
Although the TSI Claims Scorecard 1000 distills all measures down
to 6 ratings, performance or claims practices gaps will be documented
in the accompanying report.
Some companies may think they already do something
like this through their own claims SWOT (strengths, weaknesses,
opportunities and threats) planning process, their claims audit/quality
process, any reinsurer audits and internal auditing. TSI’s
process is much more comprehensive than the scope of any of these
types of reports we have seen in our experience
- The most profitable and productive companies
in many sectors have utilized the identification of best practices
and very specific financial/numeric and non financial/numeric
benchmarking as essential business tools to achieve their position
and to accelerate their own improvement.
- Claims expense control and the size of many
Canadian property and casualty insurance companies have in many
cases precluded companies from following this most important
best practice…benchmarking inside and outside the insurance
industry.
- In today’s busy claims world, no one claims
organization can ever hope to corner the market on effective
claims and business operating practices or good ideas only through
their own eyes, or through informal external analysis and peer/broker/supplier
discussions
- A claims planning, priority goal setting, due
diligence, claims management conference or annual performance
review tool. A Vice President of Claims or a President could
quickly, systematically and comprehensively assess Claims Department
performance today, annually measure progress, and stay up to
date as we update the Scorecard.
Jim Jasper and I have been executives of insurance
companies, consultants and students of claims and legal department
best practices, management and change management for over a combined
60 years. We are also practical businessmen. We have through contact
with many companies collected and utilized best claims practices.
We have used our methodology to help companies become better claims
and legal risk managers and operationally more effective by identifying
performance gaps and implementing plans to change performance.
Jim is also the President of Talisman Consulting, a management
consulting company serving the insurance industry in areas not
involving claims.
Is this one of the key change management tools
you have been looking for? If so, please contact us.
We would be happy to meet to discuss more specifically the depth
and breadth of our approach, question set and working together.
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