Benchmarking

Insurance executives are studying every part of their operation to wring out inefficiencies. Because of this, a number of you have talked to NAMIC about the need to benchmark your company’s performance against the competitors.

Until now however, the cost and lack of sufficient data from similar companies has restricted this very important exercise.

NAMIC partnered with Ward Group, the leading provider of benchmarking services, to provide their program and Electronic Best Practices software database to members at a substantially reduced member cost.

Ward has developed a five-step process for its benchmarking program. This successful formula has resulted in more than 300 companies participating in the program. They work with you to establish a benchmarking framework for your company, develop "apples-to-apples" comparisons, conduct an on-site best practices analysis, and review and monitor the results. It is a comprehensive process.

Interested in NAMIC's Benchmarking Service

Posted: Tuesday, February 20, 2001 12:00:00 AM. Modified: Wednesday, August 17, 2005 10:44:14 AM.

(317) 875-5250 - Indianapolis | (202) 628-1558 - Washington, D.C.

Contact NAMIC | Press | Advertise | Sponsor

We are 1,400 property/casualty insurance companies serving more than 135 million auto, home and business policyholders, with more than $196 billion in premiums accounting for 50 percent of the automobile/homeowners market and 31 percent of the business insurance market. We are the largest and most diverse property/casualty trade association in the country, with regional and local mutual insurance companies on main streets across America joining many of the country’s largest national insurers who also call NAMIC their home. More than 200,000 people are employed by NAMIC members.