Compendium of 47 Most Useful KPIs for the Insurance Sector
These KPIs provide insights into various aspects of insurance operations, financial health, risk management, and customer behavior.
1. Annuity Net Flows: The net cash flows generated from annuity products, accounting for both inflows and outflows.
2. Annuity Surrender Rate: The percentage of annuity policyholders who surrender or terminate their policies before maturity.
3. Asset-Liability Duration Gap: The difference between the durations of a company's assets and liabilities, measuring interest rate risk.
4. Average Premium per Policy: The average amount of premium paid per insurance policy.
5. Benefits Ratio: The ratio of insurance benefits paid out to the total premiums received.
6. Catastrophe Loss Ratio: The proportion of losses incurred due to catastrophic events compared to total premiums earned.
7. Ceded Reinsurance Leverage: The extent to which an insurance company transfers risk to reinsurers.
8. Change in Cash Surrender Value: The variation in the cash value of insurance policies over a specific period.
9. Change in Insurance Reserves: The change in the funds set aside by an insurance company to cover future claims.
10. Claim Frequency: The number of claims filed within a specific period.
11. Claim Severity: The average cost per claim, indicating the financial impact of individual claims.
12. Claims Closure Ratio: The percentage of claims successfully closed out of the total claims reported.
13. Claims Settlement Ratio: The percentage of claims that are settled and paid out compared to the total number of claims.
14. Combined Ratio: The sum of the loss ratio and the expense ratio, indicating the overall profitability of an insurance company.
15. Direct Premiums Written Growth Rate: The percentage change in direct premiums written over a specific period.
16. Expense Ratio: The ratio of operating expenses to premiums earned, indicating the efficiency of cost management.
17. First Notice of Loss (FNOL) to Claims Paid Time: The average time taken from reporting a claim to the actual payment.
18. Growth in Cash Value Life Insurance: The percentage increase in the cash value of life insurance policies.
19. Incurred But Not Reported (IBNR) Reserves Ratio: The ratio of reserves set aside for claims that have been incurred but not yet reported.
20. Insurance Leverage: The degree to which an insurance company uses borrowed funds to increase its returns.
21. Insurance Penetration: The percentage of the population covered by insurance policies.
22. Investment Yield: The return on investments held by an insurance company.
23. Life Insurance In-Force: The total face value of all life insurance policies that are currently active.
24. Loss Adjustment Expense (LAE) Ratio: The ratio of expenses related to adjusting claims to the total earned premiums.
25. Loss Ratio: The ratio of losses incurred to the total premiums earned.
26. Mortality Rate Variance: The difference between expected and actual mortality rates in life insurance portfolios.
27. Net Subrogation Recoveries: The amount recovered through subrogation, net of associated costs.
28. Net Underwriting Income: The income derived from underwriting activities after deducting losses, commissions, and expenses.
29. Percentage of Policies Reinsured: The percentage of insurance policies that are transferred to reinsurers.
30. Persistency Ratio: The percentage of policies that are retained or renewed over a specified period.
31. Policy In-force: The number of active insurance policies.
32. Policy Lapse Ratio: The percentage of policies that lapse or are surrendered before maturity.
33. Policy Renewal Rate: The percentage of policies that are renewed at the end of their term.
34. Policyholder Dividends Ratio: The ratio of dividends paid to policyholders to the total earned premiums.
35. Policyholder Surplus: The amount by which an insurance company's assets exceed its liabilities.
36. Premiums Written: The total value of premiums written by an insurance company within a specific period.
37. Ratio of Commissions and Brokerage Expenses to Premiums: The proportion of premiums paid as commissions and brokerage expenses.
38. Reinsurance Ratio: The proportion of risk transferred to reinsurers compared to the total risk exposure.
39. Reserve Development: The change in reserves over time, reflecting adjustments based on new information.
40. Return on Investment (ROI) for Insurance Tech Initiatives: The return generated from investments in insurance technology initiatives.
41. Risk Retention Ratio: The percentage of risk retained by an insurance company compared to the total risk exposure.
42. Risk-Based Capital (RBC) Ratio: The ratio of an insurance company's capital to its risk, ensuring financial stability.
43. Solvency Ratio: The ratio of an insurance company's capital to its liabilities, indicating financial solvency.
44. Surrender Rate in Life Insurance: The percentage of life insurance policies that are surrendered or terminated.
45. Total Investment Income: The total income generated from investments, including interest, dividends, and capital gains.
46. Underwriting Profit: The profit derived from underwriting activities, calculated by subtracting losses and expenses from premiums earned.
47. Unearned Premium Reserve: The portion of premiums collected but not yet recognized as revenue.
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