Everyone likes to know what is going on. Are our actions getting worse or better? Do we do something more today than yesterday? Are we winning more or losing more? Only the Toronto Maple Leafs know the answers in advance so for the rest of us we must seek the statistics after the fact.
As an industry insurers used to keep track of how many cases were written, how many were issued standard, how many were placed, how many were not taken, how many were rated and how many were declined. As a junior risk taker in the business those numbers helped me judge how all risk selectors were doing and at times with a jaundiced eye looked to the advisor as the cause of an increase in declines and "rated cases".
Always lacking at least from my perspective was an industry number on how many cases were disputed at time of claim. How many were denied? How many went to litigation? How many ended in compromise? How many were paid in relation to how many were totally submitted? I always wondered but never became an information champion seeking out those numbers other than a cursory "are they available anywhere" question.