The National Insurance Board’s Balanced Scorecard introduced in 2010 provides management, the Board of Directors, and the Government of the Bahamas, with a summarized one-page view of performance across functional areas in financial and non-financial areas.
It is an excellent tool that creates awareness of the functional contribution to overall results and also allows for ready identification of key performance areas which require more focus. Equally as important, functional areas that exceed performance metrics are identified and management can recognize outstanding contribution to the achievement of goals in the key performance drivers indicated by management as focus areas.
The introduction of this key performance management tool places the Board in a unique position as very few social security organizations have yet introduced this key performance measure in its management reporting.
2Bahamas-TNIB-2012-1.pdf 73.48 kB