Team Excellence – Live Case Studies

Max Life Insurance Company Limited
InstaClaim™ - Death Claim in 1 Day
India

Tuesday, May 1
9:15 AM - 10:15 AM
Location: WSCC 606

The purpose of InstaClaim™ is to keep promises and dreams alive at the time of a customer’s utmost need, by providing a death claim within one day—a unique service disruption in the life insurance claims area. The main goal was to improve on-time claims processing in one day from 31 percent in December 2015 to 95 percent levels by December 2016. We also aimed to increase customer satisfaction top-box ratings from 40 percent to more than 50 percent levels. A cross-functional team from claims, IT, finance, and quality successfully carried out a transformational agenda by following Six Sigma DMAIC approach and utilizing quality tools such as ethnography, SIPOC, VSM, Ishikawa, Pareto, hypothesis testing, and solution selection matrix. The team was able to improve on-time claim processing met percentage from 31 percent levels to 95 percent levels in December 2016, until today. It improved customer satisfaction as more than 60 percent of respondents rated the claims process “excellent” consistently in customer satisfaction surveys conducted by the independent agency IMRB. The team employed a change management framework aided by control tools to sustain performance and ensure this remains not a one-year wonder but a way of life at Max Life.

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Max Life Insurance Company Limited
InstaClaim™ - Death Claim in 1 Day
India

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Send Email for Max Life Insurance Company Limited
InstaClaim™ - Death Claim in 1 Day
India