Average number of days elapsed between the occurrence of an insured incident and the submission of a complete claim by the stakeholder (client of the organization) for all claims settled during the reporting period.
Promptness of Claims Submission (PI2070)
Calculation:
- Reporting Format Unit Referenced within Metric Definition
- Metric Type Metric
- Metric Level Product/Service, Organization
- IRIS Metric Citation IRIS, 2021. Producer Price Premium (PI1568). v5.2.
Footnote
Organizations should footnote all assumptions used.
Usage Guidance
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This metric is intended to capture how long on average (in days) it takes stakeholders to submit complete claims.
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Organizations should calculate this metric using the average days’ duration between an insured incident and the stakeholder’s submission of the complete claim.
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Organizations can use the raw data relevant to this metric when calculating Promptness of Claims Settlement (PI9897).
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For more detail on Promptness of Claims Settlement and for guidance on interpretation, see the Microinsurance Network’s Social Performance Indicators for Microinsurance, p. 19 (https://www.social-protection.org/gimi/ShowRessource.action?id=5270).
Impact Categories & Themes
SDG Goals & Targets
No Poverty
- SDG Target 1.5
- SDG Target 1.4
Gender Equality
- SDG Target 5.5
Decent Work and Economic Growth
- SDG Target 8.1
- SDG Target 8.2
- SDG Target 8.3
- SDG Target 8.10
Industry, Innovation and Infrastructure
- SDG Target 9.3
Reduced Inequality
- SDG Target 10.1
- SDG Target 10.2
- SDG Target 10.3
Sustainable Cities and Communities
- SDG Target 11.5