Examines indemnity spend performance for property insurance claims, prioritizes improvement areas, and quantifies the potential savings

The Property Claims Cost Benchmark allows participating insurers to understand their performance for both buildings and contents claims at a granular level. The benchmark provides actionable results, clearly identifies key opportunities, and provides deep-dive analyses into specific areas of interest.

Why it's important

Good performance in property claims management is a function of underwriting characteristics, exposure to different perils, claims handling decisions etc. and insurers employ different strategies based on their risk mix. Finalta’s Property Claims Cost study provides insurers with a comparable view of their claims-handling performance and identifies potential areas of improvement.

What the Property Claims Cost Benchmark provides:

  • Isolates your underwriting performance from claims performance
  • Delivers a granular view of claims inflation (e.g., building types, specific postcodes, particular perils, mass claim events etc.)
  • Helps you understand the impact of internal process on indemnity spend (e.g., frequency and types of investigation, speed of settlement etc.)
  • Uses transparent analyses that can be easily verified with participants’ own data
  • Gives actionable insights, and identifies and prioritizes opportunities to rapidly improve performance

The Property Claims Cost Benchmark helps participants address critical questions such as:

  • Are we being impacted by more claims than peers, particularly by region?
  • Are there any property types that we are not managing as efficiently as we could?
  • How do we handle mass claim events, such as storms and floods, and what is the impact on our day-to-day operations?


Our unique methodology minimizes participation effort as insurers simply provide raw claims data and Finalta creates a common and comparable taxonomy. We use claim-level data to identify differences in performance within comparable segments. We examine indemnity payments across different peril types (escape of water, accidental damage etc.), alternative accommodation spend, loss adjuster utilization rates, and the impact that time to First Notice of Loss (FNOL) is having on your overall performance. We employ granularity to generate comparability, rather than manipulating data, to account for differences in risk mix and strategy. Our experienced analysts understand the trade-offs in claims strategies and help to identify opportunities in the context of each insurer’s individual needs.

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