Turning Vision into Action

Many claim executives struggle to communicate with their CEOs and CFOs on the performance of their organizations. The problem often is that senior executives, who are well trained in finance, lack a complete understanding of how the claim function impacts overall results. Claim VPs then encounter a dizzying series of short-term directives that they know will fail, while they struggle to explain why the orders from the corner office are not having the desired effect. When this happens to you, it’s time to fight back with a weapon that works: Financially based claim performance measurement, also known as a Balanced Claim Scorecard. Measurement is a critical component of any claim management system. Most claim managers recognize its vital role in communicating, motivating, and tracking the achievement of an organization’s strategy.