Final answer:
The quantitative measure used to gauge the performance of a claims department is CLM (Claims Loss Management), which is focused on minimizing loss and improving the claims handling process.
Step-by-step explanation:
The quantitative measure used to measure claims department performance is d) CLM (Claims Loss Management). The CLM measures the effectiveness of a claims department in managing and settling claims with the aim of minimizing loss and expenses associated with those claims. This involves tracking a range of components, including the time taken to settle a claim, the accuracy of the claim settlement, and the overall customer satisfaction with the claims process.
While CPI (Consumer Price Index) is a measure of inflation reflecting the cost of living, ROI (Return on Investment) is used to assess the profitability of an investment, and NPS (Net Promoter Score) gauges customer loyalty and satisfaction, these do not directly relate to the performance of a claims department within an organization.