Claims Performance Monitor 2011

Dec 21, 2011

The full year CPM 2011 has been delivered to our clients today.

Our team has been burning the midnight oil to get reports completed in time for Christmas and to distil the research into clear direction for improving performances.  We will be meeting with clients in the New Year to discuss and refine these actions.

So, what will the claims managers find when they  flick through their reports before heading home for Christmas?

This has been a challenging year for anyone working in claims - apart from record catastrophes, teams are having to cope with Minimum Standards, CTP and ECF II to name but a few of the market initiatives.  I have certainly detected a degree of frustration as yet more requirements get piled on already under-resourced teams.  Brokers have sympathy for teams who have resourcing issues but still need to satisfy client needs.

Despite that, service standards continue to rise in 2011 and claims teams seem determined to move forward on the service front just as much as they (have to) on the regulatory and process areas.  The big needs-shift this year is away from process and onto relationships and while this has been a noticeable trend over the past two years it seems to have really accelerated in 2011, particularly as ECF seems to have become part of business-as-usual.

If I was a claims director reading this report the first thoughts I'd have would be:

  • it's an increasingly competitive space - how can we stand out from the crowd?
  • how can I attract and retain the best claims talent in 2012?
  • how can I best communicate the quality of the claims service that I am offering?