Benchmarking

Benchmarking

Benchmarking is the process of continuously measuring and comparing one's business processes in leading peer organizations and industry best practices to obtain information that will help the organization identify and implement improvements. Most insurance carriers recognize the financial impact of subrogation recoveries on overall financial performance as a key strategic initiative; however, until recently, there was never a benchmarking study dedicated just to the field of subrogation.

Since NASP is committed to meeting the needs of professionals working in the field of subrogation, NASP has created a Benchmarking Committee, to develop survey questions and identify lines of business and areas to be analyzed. NASP has also retained Ward Group* to collect and normalize the (anonymous) data for the NASP report.

NASP's Benchmarking Studies help to identify realistic and achievable targets and best practices needed to improve.** Each Study is comprised of the following:

  • Executive Summary

    A profile of participants and a snapshot of the Study's results.

  • Analysis of Subrogation Philosophies and Practices

    Personnel benchmarks, organizational practices, service level standards and operating practices.

  • Analysis of Subrogation Performance by Line of Business

    Analysis of net subrogation results by participants' size.

  • Analysis of Subrogation Performance by State

    Analysis of gross and net recovery results by state, noting negligence laws.

  • Best Practices Summary

    Hints provided by participants, which summarize their best practices for subrogation performance.

Benchmarking Studies

To date, NASP has conducted 10 Benchmarking Studies:
2012 Auto Subrogation Benchmarking Study

Carrier Participation Form
Sponsor Participation Form
2011 Workers' Compensation Benchmarking Study

Carrier Participation Form
Sponsor Participation Form
Order Form
2010 Property Benchmarking Study

Order Form
Table of Contents
2010 Healthcare Benchmarking Study

Order Form
Table of Contents
2008 Auto Benchmarking Study

Order Form
Table of Contents
2006 Property Benchmarking Study

Order Form
Table of Contents
2005 Workers' Compensation Benchmark Study

Order Form
Table of Contents
2005 Automobile Benchmarking Study

Order Form
Table of Contents
2004 Property Benchmarking Study

Order Form
2003 Automobile Benchmarking Study

Order Form

All NASP Benchmarking Studies are available for purchase through the NASP office. Participants also have the option of purchasing an individual report, which benchmarks their company's results against the Study as a whole.

*Ward Group is a Cincinatti-based operational consulting firm specializing in the insurance industry. Ward Group is the leading provider of insurance industry benchmarking and best practices services (http://www.wardinc.com).

**It is important to note that individual results and organizational practices may differ with the mix of business and product. Therefore, the results of these studies should be interpreted as guidelines for the industry in general. A thorough understanding of your company's business should be your foundation for interpreting and relating these results.

Questions? Contact Us For More Information.

Leslie S. Wiernik

Leslie S. Wiernik
Phone: (800) 574-9961
leslie.wiernik@subrogation.org