KPIs & Metrics 101
Everything you need to know about KPIs to start your data driven journey
KPIs & Metrics 201
Real life business examples of KPIs and how to establish key business metrics
Total Number of Days taken to settle all claims (in each insurance claim category) / Total Claims
The Average Time to Settle a Claim KPI measures how long it takes – on average – to settle insurance claims for each type of policy your organization offers. Each insurance policy will have different claim periods, and may vary quite a bit in terms of how long it takes to settle that particular claim. A common example is the difference between medical and auto insurance claims where, typically, medical claims take longer to settle.