Insurance
With LogicERM everything is in one place and connected so you can measure the health of your organization and your progress toward achieving your corporate objectives. Through those connections, LogicERM will roll-up SMART Business Metrics from all related business areas in real-time.
To do this you need to measure the key risk, performance and compliance indicators in each of the areas that affect or contribute to your strategic initiatives. For example if you are concerned about customer satisfaction, you need to measure contributing processes, such as renewals, claims and customer service.
In one glance with LogicERM you’ll drill down further within customer service for example, to clearly see which business metrics, such as timeliness of inquiry resolution, are causing the problem.
Why do front-line managers as well as senior executives, boards of directors, and committees love SMART Monitoring?
Simply, LogicERM provides the tools that reduce the work that every front-line manager must do and already does every day. Each manager uses their own SMART metric for their own work, and LogicERM does the heavy lifting of connecting and rolling up the information to subsequent levels.
Register here to learn what are the right business metrics for insurers and how you implement them.
The following are other hot topics where recent activity has been focused among our customers in various business process areas:How connected your back office is to your front line
How does managing compliance activity link to business performance? For example, within vendor compliance, which vendors impact renewals?
How you earn revenue
Distribution channel management - Managing productivity of independent agents, brokers and direct sales forces, monitoring channel profitability, and submission quality.
How you create your product or service
Claims management - Gaining visibility into claims cost per premium dollar to contain cost and control reserves.
How you provide support
Revealing the root cause impacts to inquiry timeliness, accuracy and accessibility to predict customer satisfaction.