Average number of days elapsed between when an insured incident occurred and when the beneficiary (client of the organization) submits a complete claim, for all claims settled during the reporting period.
Unit Referenced within Metric Definition
IRIS metric citation
IRIS, 2016. Promptness of Claims Submission (PI2070). v4.0.
Organizations should footnote all assumptions used.
Organizations should note that this metric is calculated using the average of dates from when an insured incident occurs through the date that the claim is submitted by the beneficiary.
Organizations can use the raw data relevant to this metric when calculating Promptness of Claims Settlement (PI9897).
For more detail on the Promptness of Claims Settlement and for guidance on interpretation, see the Microinsurance Network's Social Performance Indicators for Microinsurance, p. 19 (http://www.microfact.org/social-performance/).
March 2016 - IRIS v4.0 Released (current version)
Immaterial change. Minor revision to definition language for clarity.
March 2014 - IRIS v3.0 Released
New metric. Promptness of Claims Submission (PI2070) developed via IRIS Taxonomy Group.
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