Average Cost Per Claim
Measures how much your organization pays out for each claim filed by your customers.
The Average Cost per Claim KPI measures how much your organization pays out for each claim filed by your customers. With this KPI (as with other insurance KPIs), it's important to categorize based on the type of claim, since each type of claim will differ in cost. The purpose of this KPI is to help your organization to properly assess the risk associated with each type of policy and adjust policy pricing accordingly.
Formula
Total Cost of Claims per Month / Number of Claims
Services
Role
Analyst,
Manager,
VP / Director
