Office of the Commissioner of Insurance

Agency Performance Dashboard

AGENCY DESCRIPTION

OCI leads the way in informing and protecting the public and responding to its insurance needs. OCI performs a variety of tasks to protect insurance consumers and ensure a competitive insurance environment.

DASHBOARD ARCHIVES

RELATED LINKS

Website:   http://oci.wi.gov

Goal Met Key
goal met, goal not met, goal in progress. As determined by comparison of current data and target.

Trend Key
  trending in favorable direction,     trend is holding,     trending in unfavorable direction.

Economic Development

Wisconsin domestic insurers rank nationally

Metric Definition

This compares Wisconsin's number of domestic insurers to the national average.

Goal Met Current Previous Target Trend
5th 4th Top 10

Reporting Cycle: Annual (January 1, 2016 - December 31, 2016)

Additional Details: A domestic insurer is an insurance company formed under the laws of the state where the insurance is written. The information is published by the National Association of Insurance Commissioners (NAIC) and compiled from individual company annual reports.

Premium and investment rank nationally

Metric Definition

The amount of premiums and investments for Wisconsin domestic insureds compared to the national average.

Goal Met Current Previous Target Trend
18th 18th Top 25

Reporting Cycle: Annual (January 1, 2016 - December 31, 2016)

Additional Details: This metric demonstrates how much premium and investment in total the Wisconsin domestics have relative to other states. Premium is the financial cost of obtaining an insurance policy, paid as a lump sum or in installments during the duration of the policy. The information is published by the National Association of Insurance Commissioners (NAIC) and compiled from individual company annual reports.

Reform and Innovation

Average form process time frame

Metric Definition

The time it takes our market regulation bureau to process new forms from insurance companies. Speed to market is important to insurance companies and consumers. Quick review time ensures consumers can buy and insurers can sell the newest products available.

Goal Met Current Previous Target Trend
3 days 5.3 days 45 days

Reporting Cycle: Quarterly (January 1, 2017 - March 31, 2017)

Additional Details: If forms are not processed on a timely basis, insurers would be at a competitive disadvantage as they would be unable to adjust to changing market conditions.

Average rate process time frame

Metric Definition

The time it takes for the agency to process rate reviews. Insurers need to have rate increases and decreases processed promptly in order to ensure consumers are paying appropriate rates for the coverage. Regulatory delays can lead to even higher increases for consumers and financially harm insurers.

Goal Met Current Previous Target Trend
3 days 5.3 days 45 days

Reporting Cycle: Quarterly (January 1, 2017 - March 31, 2017)

Additional Details: A review to confirm that rates filed are consistent with the Wisconsin Insurance laws and regulations and that rates filed are not excessive, inadequate or unfairly discriminatory.

State rank of homeowners insurance premiums

Metric Definition

Ranks the cost of homeowners insurance premiums against the cost in other states. This metric demonstrates that Wisconsin consumers pay far less than average for their homeowners premium.

Goal Met Current Previous Target Trend
4th 4th Top 10

Reporting Cycle: Annual (January 1, 2016 - December 31, 2016)

Additional Details: This is from valuepenguin.com based on annual premium data courtesy of the NAIC 2013 Homeowners Study published in 2016. The report provides state and national premium information for homeowners insurance package polices.

State rank of auto insurance premiums

Metric Definition

Ranks the cost of auto insurance premium against the cost in other states. This demonstrates that Wisconsin consumers pay less than other states for auto coverage.

Goal Met Current Previous Target Trend
3rd 3rd Top 10

Reporting Cycle: Annual (January 1, 2016 - December 31, 2016)

Additional Details: This is from an Insure.com 2016 survey (2016 data); based on average annual rates for the 20 best-selling vehicles in the U.S. WI yearly premium average is $912 compare to the national premium average of $1,325 per year.

Efficient and Effective Services

Number of phone calls/average wait time

Metric Definition

A measure of our ability to respond in a timely manner when a consumer calls us. A short wait time helps show OCI’s responsiveness to consumers.

Goal Met Current Previous Target Trend
19 seconds 18 seconds 45 seconds

Reporting Cycle: Quarterly (January 1, 2017 - March 31, 2017)

Additional Details: OCI staff are trained to respond to consumer calls in a timely manner.

Agent licensing processing time

Metric Definition

The average time it takes for OCI to process an agent's license in actual days not business days.

Goal Met Current Previous Target Trend
2 days 2 days 10 days

Reporting Cycle: Quarterly (January 1, 2017 - March 31, 2017)

Additional Details: Agent licensing has fully implemented our new vendor and as indicated in Q2, processing time would reduce to 24-48 hours. This goal has been achieved.

Number of complaints

Metric Definition

The number of complaints received. The goal is to ensure insurance company compliance with Wisconsin insurance laws and reduce complaints.

Goal Met Current Previous Target Trend
4,114 3,101 8,000

Reporting Cycle: Annual (January 1, 2016 - December 31, 2016)

Additional Details: Complaint numbers are a measure of company compliance with WI rules and laws. Lower complaint numbers reflect better company compliance.

Average complaint time response

Metric Definition

The average time in days it takes for first response.

Goal Met Current Previous Target Trend
1 day 1 day 7 days

Reporting Cycle: Quarterly (January 1, 2017 - March 31, 2017)

Additional Details: When consumers file a complaint, the issues are very important and often have significant financial consequences for the consumer. A fast acknowledgement informs consumers.

Customer/Taxpayer Satisfaction

Average cost to regulate

Metric Definition

The average cost to regulate per $1,000 of premium written. This is a measure of the state's cost effectiveness to regulate.

Goal Met Current Previous Target Trend
45 cents 50 cents 60 cents

Reporting Cycle: Annual (January 1, 2016 - December 31, 2016)

Additional Details: Comparatively, Wisconsin is the 12th least expensive state for cost to regulate. Data is compiled from the National Association of Insurance Commissioners (NAIC) state report card.

Customer satisfaction survey

Metric Definition

The percentage of satisfaction based on our survey to all consumers who filed complaints.

Goal Met Current Previous Target Trend
89.8% 87.9% 80%

Reporting Cycle: Annual (January 1, 2016 - December 31, 2016)

Additional Details: Survey measures customer service related to timeliness, helpfulness, resolution and staff knowledge. It is a measure of our interaction with consumers.

Financial literacy

Metric Definition

This reflects the number of direct consumer outreach interactions by OCI. This includes visits by OCI's outreach specialist and executive staff.

Goal Met Current Previous Target Trend
159 120 100 (per year)

Reporting Cycle: Annual (state fiscal year July 1, 2015 - June 30, 2016)

Additional Details: Direct consumer outreach by staff educates consumers on important insurance issues.

Percentage health insured

Metric Definition

The percentage of individuals covered by some type of health insurance. Wisconsin traditionally has a low uninsured rate.

Goal Met Current Previous Target Trend
94.3% 92.7% 85%

Reporting Cycle: Annual (January 1, 2016 - December 31, 2016)

Additional Details: This information is based on the U.S. census annual report on the uninsured and reflects a rolling two-year average.

ABOUT

Agency performance dashboards include cabinet agencies and are updated quarterly during the state fiscal year (July 1-June 30).

CONTACT INFORMATION

Department of Administration
101 E. Wilson St. Madison, WI 53703
Phone: 608-266-1741
Email: WIAgencyPerformance@wisconsin.gov

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