The company’s key measures included Combined Ratio (a measure of profitability) and policies in force (units sold) and pure premium (cost per unit). In addition to these measure, I used many internal measures to assess individual, team and process effectiveness Over the years, I’ve found it very helpful to think of two flavors of measures. 1) Diagnostics: Diagnostics measure internal processes. Managers need a set of diagnostics to accurately assess their team’s effectiveness. Diagnostics are tools to help pinpoint where process improvement is necessary and measure the effectiveness of those solutions. .
