Enhancing Claims Management Performance Metrics
This overview delves into various performance metrics monitored to ensure exceptional service, including speed to answer, abandonment rate, handle time, first call resolution, backlog statistics, and customer satisfaction ratings. The data showcases achievements in 2021, particularly in average speed to answer, handle time, and customer satisfaction. The complexity of handling GAP claims is also highlighted, emphasizing the expertise and processes involved in the claims adjudication process for the best customer outcomes.
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Presentation Transcript
Performance Metrics We vigilantly monitor numerous metrics to ensure our service meets/exceeds expectations (sampling below) Metric Description Average Speed to Answer ( ASA ) Amount of time caller holds after navigating the phone system Do we get to you quickly? Abandonment Rate ( AR ) Percent of callers who abandon the call Amount of time caller spends conversing with an agent Handle Time Do we serve you efficiently? Percentage of callers who receive authorization (or denial) during their first interaction (applicable primarily to ancillary claims) First Call Resolution GAP Claims Backlog (Count) Number of GAP claims awaiting final resolution Do you receive resolution fast? GAP Claims Backlog (Days) Number of days a GAP claim spends awaiting final resolution Do we provide great service? Customer Service Level Rating of our performance on three questions
Performance: 2021 ASA Average Speed to Answer (seconds) 68 62 19 VSC Ancillary GAP
Performance: 2021 Handle Time Handle Time 7:37 81% first touch resolution 5:41 4:06 VSC Ancillary GAP
Performance: 2021 Customer Satisfaction Rating (based on 1-5 scale) 94% 91% 90% Satisfied with Rep Satisfied with Product Coverage Likely to Recommend
Performance Metrics: GAP The complexity of a GAP claim requires that we bring different types of expertise to bear in the claims process Outside of iA American Control Within iA American Control Filing Pending Processing Approving Contract holders, lienholders, and dealers gather documentation required to adjudicate the claim iA American agents prepare the claim file for adjudication Claims adjusters perform calculations necessary to determine the status of the loan and the vehicle s value A seasoned claims adjuster reviews the claim for accuracy and processes it for payment
Performance Metrics: GAP Through process redesign, our GAP Department dramatically reduced days to process a GAP claim Days to Process GAP Claim 64 26 7 7 5 4 Acquisition Acquisition Acquisition World Class iAAWG in 2021 iAAWG in Dec.
