Insurance Company Cuts Cycle Time by 20% and Saves Nearly $5 Million Using Agile Project Management Practices

Company

Fortune 100, a US-based company that provides insurance products and services to Insurance North American customers.

Challenge

With billions of Insurance projects counting more than hundreds of projects, the customer has to spend less time in the market responding to competitive pressures and product expansion. They set a strong expectation of controlling project length by 50% and improving customer satisfaction within 25% over three years. The work environment of patient care services at the time was highly dependent, largely based on a systematic approach to culture, and practices were significantly improved.

Solution

The customer has received a confirmation plan and other applicable product upgrade products, with the hope of benefiting from a promising short-term plan. By embracing cooperative actions and practices as part of this effort, the organization is committed to incorporating new forms of leadership into the democratic system, by strengthening transition and speed of war to an end.

At the beginning of this experiment, PM Solutions became an integral part of the internal team that was committed to training teams to use their skills professionally, as well as the actual teaching of their area.

PM Solutions has also recommended adjusting customer service and various changes to the new methods required by a trained organization.

Results

After 18 months of mentoring and training, some of the most valuable rewards were obtained:

• Average time spent (bike time) reduced by 20%, for a savings account of up to $ 5.

• About 30%% customer satisfaction (over 25% of target), 18 months before plans

• The initial duration of the project was reduced from 10 to 3 weeks on average

• Response time usually falls from an average of 20 weeks to 7 weeks

• 90% of projects using established and validated systems that meet the needs of users promptly and within the initial budget – compared to traditional practices, only 50% of projects targeting needs on time and within start-up costs.

About fifteen percent of modern patient care has become a form of program management. When progress is shown by combining the movement of model activities with improvement, the patient sets specific goals to achieve the goal of “going easy” within the organization. As a result, management has doubled the number of projects using emergency measures.

PM Solutions continues to help drive learning and exercise related to business activity.

Translate »