Executive Action Plan D2.0 - Appendix I Benchmark Inform–

Office of Risk Management ATTACHMENT I Comparative and Benchmarking Information Final Assessment Report page I - 1 Office of Risk Management Performance Benchmarking The METHODS Project Team conducted an internal and external best practices and benchmarking study. Key statistics were gathered historically within the Office of Risk Management and from similar operations in surrounding states. This data played a key role as the project team prepared each increment of this Final Assessment Report. This report covers all of the key performance expectations the Office of Risk Management should adopt as its Critical Success Factors. In preparing this report, performance expectations were divided into eight categories: 1. Waste, Fraud and Abuse 2. Actuarial Soundness 3. Premium Allocation 4. Staffing 5. Loss Cost Containment\Loss Prevention 6. Vendor Management 7. Information Systems These categories where chosen by asking the following question: “What are the major types of performance expectations that a Governor’s task force, a Louisiana Legislative Committee and a group of professional risk managers would agree are most important?” Examples of a risk management group would be the in-state members of the Risk and Insurance Management Society (RIMS) and the State Risk and Insurance Management Society (STRIMA). ...