The Productivity & Expense Benchmark isolates productivity and cost optimisation opportunities and outlines key recommendations to target market leading performance, specific to business line and cost centre levels.
Why it's important
Insurers are changing the way they interact and engage with customers to meet the growing adoption of digital channels. From underwriting to fraud and claims management, the insurance market is embracing digital platforms, with the leaders benefiting from cost efficiencies and improved customer experience. The Digital Insurance Sales and Service Effectiveness Benchmark helps insurers to understand key topics such as:
Productivity measured to account for different portfolios and gaps identified at business line level:
Expense opportunities identified at the most granular level with clear quantification and target setting:
Detailed assessment of operational capabilities and impact on overall performance:
Our unique methodology utilises policy- and cost centre-level data to build up a truly comparable view of productivity and expense at the top level and then drill down to the most granular level to identify real opportunities and specific actions. Performance can be segmented and normalised by a complete set of performance factors including line of business, signing locations, risk locations and cost types.
Our approach limits the participation effort for insurers whilst our experienced analysts take the time to fully understand your data and the intricacies of the expense base
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