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OKR template to lower overall claims ratio to 71%

public-lib · Published 3 months ago

Your OKR template

The OKR aims to reduce the overall claims ratio to 71%. This is expected to be achieved through underwriting practices enhancement, reducing by 15% the underwriting of high-risk policies. Initiatives include periodically updating underwriting guidelines to minimize risk, implementing comprehensive risk assessment tools, and specialized risk management training for underwriters.

Another strategic move is to implement a rigorous quality control review process, anticipated to result in a 10% decrease in errors. To achieve this, staff should undergo training to consistently apply these standards, develop rigorous standards for testing and evaluation, and regular monitoring and assessment of error rates.

The OKR also seeks to jump the claim audits by 20% to ensure accuracy and reduction of false claims. Some initiatives to support this implementation include evaluating current auditing procedures for efficiency, training employees on improved audit strategies, and weekly progress monitoring to keep track of improvements.

In essence, the OKR is aimed at enhancing practices, implementing strict control procedures, and increasing audits. All these measures are expected to reduce the claims ratio, decrease errors, ensure accuracy, and reduce false claims.
  • ObjectiveObjectiveLower overall claims ratio to 71%
  • Key ResultKREnhance underwriting practices to reduce high-risk policy underwriting by 15%
  • TaskRegularly review and update underwriting guidelines to minimize risk
  • TaskImplement comprehensive risk assessment tools during the underwriting process
  • TaskProvide specialized risk management training for underwriters
  • Key ResultKRImplement a strict quality control review process resulting in a 10% decrease in errors
  • TaskTrain staff in these standards for consistent application
  • TaskDevelop rigorous standards for testing and product evaluation
  • TaskRegularly monitor and assess error rates
  • Key ResultKRIncrease claim audits by 20% to ensure accuracy and reduction of false claims
  • TaskAssess current auditing procedures for efficiency
  • TaskTrain employees on improved audit strategies
  • TaskImplement weekly progress monitoring
Use in Tability

How to edit and track OKRs with Tability

You'll probably want to edit the examples in this post, and Tability is the perfect tool for it.

Tability is an AI-powered platform that helps teams set better goals, monitor execution, and get help to achieve their objectives faster.

With Tability you can:

  • Use AI to draft a complete set of OKRs in seconds
  • Connect your OKRs and team goals to your project
  • Automate reporting with integrations and built-in dashboard

Instead of having to copy the content of the OKR examples in a doc or spreadsheet, you can use Tability’s magic importer to start using any of the examples in this page.

The import process can be done in seconds, allowing you to edit OKRs directly in a platform that knows how to manage and track goals.

Step 1. Sign up for a free Tability account

Go tohttps://tability.app/signup and create your account (it's free!)

Step 2. Create a plan

Follow the steps after your onboarding to create your first plan, you should get to a page that looks like the picture below.

Tability Import Options

Step 3. Use the magic importer

Click on Use magic import to open up the Magic Import modal.

Now, go back to the OKR examples, and click on Copy on the example that you’d like to use.

Copy from the template

Paste the content in the text import section. Don’t worry about the formatting, Tability’s AI will be able to parse it!

Importing from text

Now, just click on Import from text and let the magic happen.

Tability editor with imported content

Once your example is in the plan editor, you will be able to:

  • Edit the objectives, key results, and tasks
  • Click on the target 0 → 100% to set better target
  • Use the tips and the AI to refine your goals

Step 4. Publish your plan

Once you’re done editing, you can publish your plan to switch to the goal-tracking mode.

Publish import

From there you will have access to all the features that will help you and your team save hours with OKR reporting.

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