TCOR provides benchmarking information to track the progress of the insurance program to reach the optimal level of effectiveness. TCOR is a tool for measuring the overall costs associated with an insurance program.
Effectively Measure Overall Insurance Costs
- Track TCOR components
- Record estimate and actual values
- Allocate TCOR to levels within your hierarchy
- Comparison analytics (examples)
- TCOR as a percentage of revenue
- Identify TCOR as a percentage of profit
- View TCOR as a percentage of payroll
- Easy reports and analytics
- Defined performance metrics
- Calculating cost risk management program benefits
- Transparency and responsiveness to senior management
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