Management Reports
Effective claims management requires a clear understanding of key performance indicators (KPIs). Management reports provide you with the data and insights needed to optimize your claims process, identify potential issues, and make informed decisions.
This section dives into two essential reports designed to empower adjusters, managers, and leadership.
Reserve Changes Report
Adjusters and Managers sometimes have a tendency to set reserves at or near their personal authority limit, which can be an indicator of potential under-reserving. This report illustrates the claim-specific variance between the current reserve, and the adjuster’s personal authority. The report can be modified to show the same data at the claimant level, but based on the adjuster’s manager’s authority. Usage of this tool will help train and assist with exposure recognition, and alert next-level management of a potential issue with non-escalation of claims for additional reserve authority for whatever reason.
Surveillance Expense and Effectiveness Analysis
Surveillance can be one of the most costly components of LAE. This report will detail your spend on surveillance and/or special investigation related expense (you define what expense types will be included). Use it to evaluate spend by adjuster, injury type, venue or any other factor for which we have the data. The effectiveness analysis reveals information that will help isolate the cost-benefit of your surveillance. This is based on the reserve at the time of the first payment made for this expense, compared to the current reserve and final paid loss if concluded. We can prepare reports like this with any expense component for which we have data, such as paid physical damage loss with/without outside appraisal.
