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Improving Collection Percentage of Active Agent Base
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(May 17, 2020)
     

This paper is about progression in the relationship of a company with its customers. The daunting challenge was to demystify as to why the customers let go of their precious investments and simply walk away and to win back disillusioned customers of a Life insurance company. A Project Charter was prepared which included Business Case, Problem Statement, CTQ with POD & POA & the team members were identified for this project. Project Scope was determined by using CTQ Tree Diagram as “Greater than 180 Days Lapsed Customer Base of Active Agents”. Further, a deep dive into the data helped the team to identify that collection from Active Agent base was 9% (Average) for the period, October-2010 to January-2011. This was contributing towards the dip in overall collection percentage of Business Recovery Unit (Renewals & Retention). Six Sigma Methodology was adopted and that helped us to deal with this issue in a focused and fact based manner.

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