Salvage metrics
For a benchmark, the values in the following table are calculated by the average-of-averages methodology described in "Overview of Compare."
| Metric | Description |
|---|---|
| Salvage Recovery | Mean U.S. dollars of salvage recovery received per exposure or claim, depending
on metric level. This metric is a key performance indicator. Related details are broken out in subsequent metrics. A high salvage recovery figure typically requires a high percentage of claims with salvage, as well as a high dollar figure for the amount of salvage recovery per claim. |
| Salvage Recovery % Positive | Depending on the metric level, the percentage of the data set's exposures or claims for which some salvage recovery was received.
For auto, this metric might be a proxy for totaled vehicles, might indicate aggressiveness in pursuing salvage, or both. |
| Salvage Recovery if Positive | The mean of salvage recovery received per the salvaged exposure or claim, depending on the metric level.
This metric might indicate the quality of the salvage operation, the value of the insured assets, or both. |
| Salvage Recovery as % of Incurred | The salvage recovery received divided by the indemnity incurred, multiplied by 100.
This metric represents the relative importance of salvage for the data set. |
| Salvage Recovery if Positive as % of Incurred | The salvage recovery received divided by the indemnity incurred among those
exposures or claims for which salvage recovery was received, multiplied by 100.
This metric might indicate the efficiency of the salvage operation relative to the insured value. |