Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
XYZ Insurance Corporation. XYZ Insurance Corporation is a leading global insurance organization serving business and individuals with a broad range of insurance products and insurance-related services. The Chief Operations Officer, Alicia Johnson, has called you into her office. You are the Director of Special Projects. You have a team that works for C-level management performing internal consulting projects. Ms. Johnson provides an overview of the underwriting department. The underwriting department is regionally dispersed across the country with centralized management in the home office in New York. The department consists of underwriters, analysts, technicians and clericals working on property insurance submissions sent in from brokers. When an insurance broker has a client who requires insurance for their property, she works with the client to develop a submission to several insurance companies to obtain competitive quotes, including a quote provided by the underwriting team of XYZ. T he submission will include the locations, the construction, occupancy type, fire protection and environment of the location. Although the company receives occasional submissions via regular mail, the vast majority is now received via email from brokers. Ms. Johnson then goes on to explain the problem she has observed. XYZ receives 3,000 submissions annually. Only 1,000 submissions proceed to quotes (the output of the process). The underwriters spend 50% to 65% of their time on the submissions that are later declined. This means they only spend 35% on approved submissions they want to underwrite. She goes on to state that this has been increasing over the past 24 months to get to these levels of inefficiency. Any underwriting time that can be eliminated will allow the underwriter more time to develop better quotes for those submissions accepted and hopefully increase the chance of winning the bid. The current process also has a number of handoffs. Ms. Johnson has asked your process improvement team to help the underwriting department improve its process. She has requested that your validation of her observations as she is not sure they are totally accurate, and wants additional work done to understand the problem. She also asks you what other companies are doing in this instance. She wants suggested improvements back from the team in two weeks. Where might you go to gather additional information on the insurance quotation process from an external perspective to help understand the ‘Should Be’ environment? As you have not dealt with the underwriting department yet, what might you want to consider as you are doing your work?
What are the various forecasting techniques, and how are they appropriate or not appropriate for an organization and/or for your publicly traded company?
Identify and Explain the role of entrepreneurship in the control and change process.
Modern Furniture Stores sells modern coffee tables. The expected demand for next months is 500 coffee tables. Tables are handmade in Seattle.
Why do you think these are the best ways to analyze the market? How will you use these tools in your plan?
How long before the meeting starts should the chairman begin getting people to serve on the committee?
Create a template that can be used to respond to customers who request support for this product.
Based on the content presented in the article, what forces and important organizational activities enable a firm to build quality into its products?
Explain the use of three versions of the multidivisional (M-form) structure to implement different diversification strategies.
Assignment Checklist: Conduct a SWOT analysis on the case study companies' mission statements. Create a case study analysis focusing upon the company's mission statement
Compare and contrast various conceptualizations of the change process. Analyze the different types of OD change interventions.
The actual demand for the patients at Omaha Emergency Medical Clinic for the first six weeks of this year are as follows: Week Actual # of Patients 1 65 2 62 3 70 4 48 5 63 6 52 a) Compute a simple exponential smoothing forecast for week 7 with α=.5...
Resilience and change almost seem antithetical at first glance.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd