Metrics & KPIsAverage % of claim amounts paid
Definition
Indicator of minimising costs to the organisation of payouts to claimants, where success would be deemed as reducing amounts paid to claimants over time. Calculation is total amount claimed / total payed out to claimants for specified time period. Care to be taken to reality check e.g. that perceive 'improved' performance isn't just due to claimants putting in increasingly ambitious claims to start with.
Tags
claim, amount