Selecting KPIs and Designing Scorecards and Dashboards for Insurance Companies

Do you want to create a corporate/team/individual performance scorecard?

Having a hard time defining your employees KPI and KRA?

 

Selecting KPIs and Designing Scorecards and Dashboards for Insurance Companies

 

I.  Introduction

Performance management is a very broad term and as a result, people understand the concept in different ways that some people would think of it as individual performance management.

Performance management is a series of management tools and processes used for connecting the individual, departmental and organizational levels of an organization. These processes monitor, control, and manage the strategic and operational direction of an organization.  

 Key practices include identifying Key Result Areas (KRAs) for every department/unit/individual, setting priorities and operational plans, establishing targets and relevant key performance indicators (KPIs) and measuring actual level of performance based on agreed standards or indicators. 

This workshop combines the principles of Management by Objective (MBO), Balanced Scorecard (BSC), and Key Performance Indicators (KPIs) as it guides key leaders of the organization in having the right performance measurement to determine how well the organization is performing at the corporate, departmental and individual level.

The goal of this 2-day seminar-workshop is to help Insurance companies achieve desired results, expressed through strategic objectives with clear KPIs and well-defined performance levels.  This is to ensure that management measures the right results and people throughout the organization are justly measured as to the level of their actual performance output vis a vis set targets.  

II. Objectives

At the end of the 2-day seminar/workshop, participants are expected to:

1. Describe the different phases of performance management system.

2. Define key concepts such as:  MBO, BSC, KPI, KRAs, and Levels

     of Performance

3. Give examples of KPI s for the four different perspectives of the balanced

     scorecard.

4. Write SMART objectives linked to the achievement of departmental and

     corporate objectives following the four perspectives of the Balanced

     Scorecard.

5. Select the right KPIs to measure performance based on the KPIs of the Insurance industry and functional teams (HR, Sales, Marketing, Administration & IT).

6. Define the meaning of the KPIs they select.

7. Describe quantitatively the different levels of performance.

8. Design performance scorecard.

9. Visualize results using dashboards.

III.  Course Outline

Overview of the Seminar/Workshop

Leveling of Expectations

I. PMS Defined

2. Performance Management System

3.  Snapshot of the Balanced Scorecard

4. Importance of Well Defined Objectives

5. Writing SMART Objectives

6. KPI Defined

7. KPI Selection Criteria

8. KPI Life Cycle

9. Top KPIs of the Banking Industry

10. KPIs for the Four Perspectives of the Balanced Scorecard

11.  Benefits of Corporate KPI Directory

12. Differentiating/Describing Each Level of Performance (Poor to Excellent) for

       Each Objective

13. Creating Corporate/Team/Individual Performance Scorecards

14. Designing Performance Scorecards

15.  Designing Performance Dashboards

16. Using Performance Scorecards to Measure and Monitor Actual Work Output

Wrap Up

IV.  Methodologies

Lecture

Discussion

Workshop

Group Exercises

V. Target Participants: 

All managers and executives of Insurance Companies who are tasked to develop their respective KPIs

VI. Session Fee:

Regular session fee is P12,000.00 (exclusive of VAT) per participant. Meals will be served and training materials will be provided for attendees.

VII. Registration Procedure:

Fill out and print the attached form and send it to Isha at learning.development2013@gmail or fax it to 659­0195 together with the deposit slip as proof of payment.

Payment may be deposited to:

TAV SYSTEMS INC

Bank of the Philippine Islands

Savings Acct # 0933­0028­45

Alabang Civic Place Branch

VIII. Cancellation Procedure: 

The following refund terms will be followed: 
Full refund on or before February 8, 2013 
50% refund February 9-13, 2013
25% refund February 14-18, 2013 
Registrants who cancel their registration on or after February 19, 2013 are not eligible for the refund. 


XI.  Bundle Rate: 

A P500.00/participant discount will be given to companies with 3 or more attendees. 

For inquiries and registration you may contact us at (02) 659-0195 or send us an email at learning.development2013@gmail.com