My Boxster has had its rear bumper cover replaced twice now. (And the front replaced once.)
My advice is to find a good body shop -- ask your Porsche dealer where it sends cars to be fixed -- that specializes in repairing Porsches -- it probably also fixes other similar brands of cars, too -- and take the car there. Focus on getting the car repaired to its pre-collision condition.
Likely a new bumper cover is required. The body shop will of course remove the damaged cover and inspect for additional damage. In one case my car suffered some bent sheet metal, nothing visible though. There's a steel rail/wide plate that is behind the bumper cover that was pushed in but was straightened up with no problems.
I would advise you to avoid playing any games with the quotes and claims process with the insurance company. While it may not be illegal it smacks of fraud. While I have no real love for automobile insurance companies I have no desire to try to pull a fast one. My goal in these situations is to get the car repaired, repaired back its precollision condition as best as humanly possible, and to do what is within my power to see this is done in a reasonable amount of time.
Getting the car repaired and repaired correctly and resuming using the car, this is the best way to put this unfortunate experience behind you and move on.
Oh take good before pics and take pics of the underlying damage, or lack there of, and pics of the repair process, so you have a record of the damage and repair so when (if) you go to sell the car while it will have a "story" you can show the prospective buyer the true extent of the damage and how the car was repaired.