Magazine article Risk Management

Raising the Quality Bar

Magazine article Risk Management

Raising the Quality Bar

Article excerpt

In 1995 a group of insurance buyers and suppliers founded the Quality Insurance Congress. Their aim was to improve the quality that service providers offered to their customers in a way that made a difference for those buyers. Since that time, that group and others that have followed have created the Voice of the Customer research program, the RIMS-QIC Quality Scorecard and now the Quality Improvement Process (QIP). As part of the overall QIP Guidelines for Performance Expectation framework, the Risk and Insurance Management Society's quality committee produced its first relationship-specific tool-the Broker and Risk Manager Partnership Tool. The tool-which outlines the process to create a performance expectations agreement-provides the impetus to achieve higher quality in the insurance industry.

The broker tool, which is available online at www.rims.org/quality, is a twenty-nine page document divided into three sections. Section I provides an overview of the QIP and covers the concepts of the QIP Guidelines for Performance Expectations, which are intended to be used by risk managers and their industry partners to improve communication, develop performance expectations agreements and evaluate the performance under those agreements. The introduction also goes over the specific steps of creating an agreement, key definitions, the elements of a quality culture and metrics for evaluation.

Section II presents a performance expectations template, which lists thirty-nine possible performance expectations for a broker. The document is designed to provide a framework for the risk manager to begin choosing guidelines and developing associated metrics that are important to his or her organization. Each expectation is categorized according to the TOSPEC system created for the QIP-Trust and reliability; Operational efficiency and competitiveness; needs and Solutions; internal and external Partnerships; Expertise; and Communication. …

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