The scoreboard, honestly: the hard targets, how often each one is actually looked at,
and the quiet human signals that never make it onto a dashboard.
Global Loss Adjustment Expense (LAE) Ratio
The total cost of investigating, defending, and settling claims as a percentage of total claims paid.
Target · Maintain LAE ratio below X% (e.g., 8%) or achieve a Y% reduction year-on-year.If our target is 8% and we hit 7.5%, that's a win. It means we're managing claims costs effectively across the board, saving millions of pounds.
Enterprise-wide Subrogation & Recovery Rate
The percentage of claims where we successfully recover funds from responsible third parties or reinsurers, across all lines of business globally.
Target · Achieve >30% recovery on all eligible claims with subrogation potential.If we pay out £100M in claims with recovery potential, and you bring back £35M, you've exceeded the target. This directly impacts our bottom line.
Regulatory Fines & Penalties
The total financial penalties incurred due to non-compliance with global claims regulations.
Target · Zero material fines or penalties (i.e., anything over £100,000) related to claims operations.Avoiding a £5M fine from a European regulator because your team's compliance framework is robust? That's a huge success and a direct reflection of your strategic oversight.
Claims Operational Efficiency (Cost per Claim)
The average internal cost to process a claim from FNOL to closure, adjusted for claim complexity and region.
Target · Reduce the average cost per claim by 5-10% year-on-year through process optimisation and technology.If the average cost to handle a complex international claim drops from £1,500 to £1,350 due to your automation initiatives, that's a tangible saving across thousands of claims.
Board and Executive Confidence
The level of trust and confidence the Board and Executive team have in the global claims function's strategy, execution, and risk management.
- Regular positive feedback from Board members
- proactive consultation on strategic decisions
- claims insights routinely shaping enterprise strategy
- no surprises at Board meetings regarding claims performance or regulatory issues.
Regulatory Relationship & Reputation
How well we're seen by key global regulators and industry bodies – are we a trusted partner, or are we constantly under scrutiny?
- Positive audit reports from regulatory bodies
- invitations to participate in industry working groups on claims best practices
- no significant adverse media coverage related to claims handling
- proactive engagement with regulators on emerging issues.
Investor & Analyst Perception
How the investment community views our claims performance and risk management capabilities, impacting our stock price and rating.
- Positive commentary from financial analysts on claims performance in earnings calls
- claims-related questions from investors are easily addressed with clear, strategic answers
- claims data presented in investor reports is well-received.
Organisational Culture & Talent Development
The health and capability of the global claims team, including succession planning and employee engagement.
- High retention rates for key claims talent
- strong internal succession pipeline for Director-level roles
- positive results in global employee engagement surveys for claims teams
- clear evidence of diversity and inclusion initiatives within the claims function.