case studies
Financial Services
Policy Administration
- Client
- General Insurance Company
- Sector
- Financial Services
Project description
A new retail product had been launched, supported by a new administrative operation.
The operation processes proposals from receipt through underwriting to issue of documentation, and also manages mid-term adjustments.
The product was successful, and the operation was unable to keep up with the work. Backlog grew, creating additional work in progress-chasing and in handling customer and staff queries.
Chaucer consultants devised methods for the management quickly to:
- reduce the backlog
- improve the policy
- administration process
- establish a management control system.
Outcome
The methods were implemented. The backlog was reduced from 15 weeks to 6 weeks within the first month, and stabilised at an acceptable level in the following month.
