What is a Coverage Plan?
A coverage plan outlines actions and goals to improve coverage options and increase customer satisfaction. It typically includes objectives, metrics, and initiatives to execute, and is designed to help insurance companies and providers better understand their clients' needs and provide the right coverage. The coverage plan template can help develop a comprehensive and effective plan for providing coverage to customers.
What's included in this Coverage Plan template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Coverage Plan template for?
The coverage plan template is for insurance companies and providers who need a plan to offer coverage to their clients. This template can be used to outline objectives and metrics, and develop a comprehensive plan to provide the best coverage for customers.
1. Define clear examples of your focus areas
A focus area is the overarching goal of the coverage plan. It should be specific and measurable, and should take into account customer needs, coverage options, and cost efficiency. Some examples of focus areas could include increasing coverage, reducing costs, or increasing customer satisfaction.
2. Think about the objectives that could fall under that focus area
Objectives are specific goals within the focus area that should be achievable and measurable. For example, under the focus area of increasing coverage, an objective could be to improve availability. Under the focus area of reducing costs, an objective could be to identify cost opportunities.
3. Set measurable targets (KPIs) to tackle the objective
KPIs, or Key Performance Indicators, are the metrics that measure progress towards an objective. For example, for the objective of improving availability, a KPI could be to increase the number of coverage options. For the objective of identifying cost opportunities, a KPI could be to identify potential cost savings.
4. Implement related projects to achieve the KPIs
Projects, or actions, are the steps necessary to achieve the KPIs. For example, under the KPI of increasing the number of coverage options, a project could be to increase coverage options. Under the KPI of identifying cost savings, a project could be to analyze coverage costs.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
The Cascade Strategy Execution Platform helps companies develop, implement and monitor their strategic plans. With an intuitive dashboard, collaboration tools, and automated reporting, Cascade helps organizations stay on top of their plans and achieve their objectives faster and more effectively.