Canadian Group LTD Benchmarking Study – 2011

Overview
Munich Re and Claim Analytics are teaming up to offer Canadian insurers what has previously been available only in the U.S. – a cross-company comparative study of LTD claims management performance. This termination rate study will offer participants, in complete confidentiality, an opportunity to conduct an in depth assessment of their LTD claims management versus their competitors.

Each participant will receive a detailed evaluation of their performance on a cross-section of claims.

U.S. Study
“We’ve been collaborating with Claim Analytics for a number of years and are excited by this opportunity to combine our benchmarking expertise to bring objective measurement to LTD claims management in Canada.” says Mark Foerster, Vice President Group Operations & Claims at MunichRe.

Participants in the 2009 and 2010 U.S. benchmarking studies (covering approximately 70% of LTD premiums written) used the results to hone in on areas of LTD claims management where their performance was either stronger or weaker than the norm. The objectivity of the comparative results helped support managers in spreading proven successful practices across departments and rooting out unsuccessful practices – improving termination rates and decreasing claim costs as a result.

Canadian Study
Munich Re and Claim Analytics are now sponsoring a Canadian cross-company study that will be fully normalized for differences in business mix, objective, and highly accurate. Firms participating in the 2010 Canadian study will gain invaluable access to a plethora of information and insights as to how to improve their performance in the complex field of LTD claims management. There is no cost to participate and data requirements are straightforward.