July 10, 2013, Melbourne, Australia – The KPI Institute, the global authority on Key Performance Indicators (KPIs) research and education announces the launch of a new report in its 2011-2012 edition of its popular Top 25 series of reports. The series is based on research conducted through www.smartKPIs.com, which contains over 20,000 Key Performance Indicator examples, making it the world's largest source of thoroughly documented KPIs.
Insurance companies provide life insurance and reinsurance, with or without a substantial savings element, and other non-life insurance (car, house, pension, etc.), underwriting annuities and disability income insurance, accidental death and dismemberment insurance policies. The KPIs used in this industry reflect efficiency in operations and other insurance-related aspects such as volume of business, the diversity of policies and claims settlement effectiveness.
The "Top 25 Insurance KPIs of 2011-2012" report provides insights in the state of Insurance KPIs performance measurement today by listing and analyzing the most visited KPIs out of the more than 60 KPIs in this category on smartKPIs.com, in 2011-2012. In addition to KPI names, the report contains a detailed description of each KPI, as documented in smartKPIs Premium.
Investment KPIs are reflective of Insurance functions, and are grouped into subcategories, such as Claim Resolutions, Insurance Policy Performance, Claim Denials, Exposure to Liabilities and Insurance Operations. From these subcategories, Claim Resolutions and Insurance Policy Performance were the most popular in 2011.
One of the most important benefits that this report brings is the international perspective it offers on the most popular KPIs for Insurance Management. The skill in applying KPIs lies in selecting the optimum number and appropriateness of each KPI. The top 5 Insurance KPIs in this report are:
1. # Insurance underwriting time
2. # Insurance claim processing time
3. % Policy renewal rate
4. % Insurance solvency ratio
5. % Not in good order account applications (NIGO)
By discussing the use of KPIs today, presenting the best practice in documenting them and listing the most popular KPIs of 2011, the “Top 25 Insurance KPIs of 2011-2012” report is a valuable resource in promoting the informed use of KPIs or refreshing the existing performance measurement and management practice in any organization.
According to Aurel Brudan, The KPI Institute’s CEO, “The Top 25 Insurance KPIs of 2011-2012 report is a synthesis of what smartKPIs.com is all about: it provides an overview of how Insurance KPIs are used in practice today, by combining input from the online community with analysis and insights from our research team."
http://www.smartkpis.com is the leading online platform for performance management knowledge integration, hosting the largest database of thoroughly documented KPI examples available on the web today. It offers high quality resources and collaboration functionality for the community of members, assisting them in making smart decisions regarding their performance management initiatives. Registration is free and enables research, learning and interaction as part of a growing community of members from over 190 countries and territories.
ABOUT THE KPI INSTITUTE
The KPI Institute is a research, publishing and educational provider specialized in developing better practice in the use of KPIs. It developed the KPI Management Framework and runs five main research programs, dedicated to performance management, the Balanced Scorecard, KPIs, analytics and organizational strategy. Over the last 8 years, The Institute assisted over 5,000 organizations in finding solutions to their KPI needs.
Cipriana Turcanu, The KPI Institute, Tel: +61 3 9670 2979, Email: cipriana.turcanu@smartKPIs.com