Promptness of Claims Submission (PI2070)

Average number of days elapsed between the occurrence of an insured incident and the submission of a complete claim by the stakeholder (client of the organization) for all claims settled during the reporting period.

Calculation:

$= (Sum of the Number of days between complete claims submission and the dates of the insured incidents) / (Number of claims settled during the reporting period)$

Reporting Format Unit Referenced within Metric Definition
Metric Type Metric
Metric Level Product/Service, Organization
IRIS Metric Citation IRIS, 2021. Producer Price Premium (PI1568). v5.2.

Footnote

Organizations should footnote all assumptions used.

Usage Guidance

This metric is intended to capture how long on average (in days) it takes stakeholders to submit complete claims.
Organizations should calculate this metric using the average days’ duration between an insured incident and the stakeholder’s submission of the complete claim.
Organizations can use the raw data relevant to this metric when calculating Promptness of Claims Settlement (PI9897).
For more detail on Promptness of Claims Settlement and for guidance on interpretation, see the Microinsurance Network’s Social Performance Indicators for Microinsurance, p. 19 (https://www.social-protection.org/gimi/ShowRessource.action?id=5270).

Impact Categories & Themes

SDG Goals & Targets

Metric History

June 2022 - IRIS v5.3 Released (current version)

Immaterial change. Minor revisions to definition and usage guidance for clarity.
January 2020 - IRIS v5.1 Released

No change.
May 2019 - IRIS v5.0 Released

No change.
March 2016 - IRIS v4.0 Released

Immaterial change. Minor revision to definition language for clarity.
March 2014 - IRIS v3.0 Released

New metric. Promptness of Claims Submission (PI2070) was developed via the IRIS Taxonomy Group.

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