You are the newly appointed Claims Manager for the commercial property claims team of BW Ltd, an insurer. The commercial property claims team consists of a senior claims handler, three claims handlers and a junior claims handler. The claims team handle a portfolio of commercial property and business interruption claims, which arise from small and medium enterprise (SME) business. The claims team collectively handle approximately 5,000 claims annually, with approximately 1,000 to 1,200 claim files being open at any one time. There are four loss adjusting firms on BW Ltd's supplier panel and the claims team utilise the services of its loss adjusters to investigate claims on a report only basis. You are responsible for monitoring the performance of both the claims portfolio and the claims team.

Discuss how you would monitor the performance of BW Ltd's commercial property & business interruption claims portfolio. 

Discuss how you would monitor the performance of BW Ltd's commercial property claims team.