These reports should show results versus plan and results versus historical benchmarks, such as the previous year or the results of a similar company. All reports should be summarized and translated into a company s specific business drivers. As a result, they may focus on productivity instead of disability days, operational readiness instead of claims frequency, and cash flow impact versus claims severity. Data must be available by location on retentions and exposures to loss. These reports are generally prepared graphically.
Many companies use visual approaches such as risk mapping.
Often, these reports are published annually as part of a risk management stewardship report. If you are a risk management professional who wants an executive view of claims information and need to be proactive in anticipating and accessing critical risk management information, click here. Relative position reports show how the enterprise operates versus competitors companies that are considered to be the best in their industry. These reports are often referred to as benchmark reports. Many benchmark reports present reality in light of peer group averages or the best that an organization has achieved so far.