johnson shillington insurance

In effect, we can say that Six Sigma is applicable in any organization, irrespective of the actual number of processes that might be there in the organization.

To understand how Six Sigma is for insurance, it is important to have some of the most important processes in which Six Sigma has been successfully in operation.

Policy Conversion

The main worry for most firms is usually insurance policy conversion turnaround time, which determines how well the firm is able to market and sell its policies. Since the turnaround time reflects the total time required for a proposal to include in a policy, it is necessary for insurance companies, to initiatives that help in reducing the existing deadlines. This is exactly where many insurance companies have felt the need for providing highly effective process improvement methods such as Six Sigma.

It makes sense, Six Sigma, since reducing the turnaround time depends a lot on the satisfaction of customer needs and expectations, a difficult task which can only be used with Six Sigma. What is Six Sigma is that it uses time-tested tools, such as VOC (Voice of the Customer), which go a long way in meeting the customer needs and expectations.

Through the use of VOCs, insurance companies are in a position to make a precise assessment of the needs and requirements of its customers, which in turn enables them to make the necessary changes in their service offerings, ie insurance proposals. This will automatically result in an increased interest of customers and thereby increase political turnaround time, often the main objective of insurance companies.

The Claims Settlement Process

This is another area in which insurance companies must be extra careful - because the inability to claim in a timely manner can easily tarnish the brand image and reputation of the insurance company concerned. Through the communication of the lack of efficient services to their family, friends and employees, even a single dissatisfied customer can have serious repercussions on the firm's future business prospects, something that makes it even more important for the insurance companies for the provision Six Sigma.

Six Sigma helps because it allows companies, insurance companies, their claims handling, which usually consists of various other sub-processes, often leading to difficulties and delays. Off late, Six Sigma has begun using automated tools and techniques that have enabled insurance companies to even more improvements in the existing process claims.

For the best results, insurance firms need to deploy Six Sigma right from the time when a new policy is being designed and developed. Ongoing operations are no doubt possible because of changes in existing policies, but not much, as you can about the effectiveness of such operations, and there is much at stake, it makes sense, Six Sigma implementation from the beginning at. It is only then will the concerned insurance company in a better position to ensure the success of their insurance proposals.

Tony is a Jacowski Quality Analyst for the MBA Journal. Aveta Solutions - Six Sigma Online (http://www.sixsigmaonline.org) offers online six sigma training and certification classes for six sigma professionals such as lean six sigma, black belts, green belts, and yellow belts.