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Simplify Business Processes – Financial Services (Insurance)
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Simplify Business Processes – Financial Services (Insurance)

The Client: A major UK general insurer operating an expanding complaint function, currently with 75 FTE (Full Time Equivalents).

The Challenge: More than 25,000 complaints were being received annually in three core product groups – Home, Creditor and Brokered, each with massive sub-product complexity. Complaint resolution was highly regulated by the Financial Ombudsman Service (FOS) who acted as a third tier in addition to the two-tier complaint handling process operated by the company.

The Solution

Reinvigoration undertook a programme which included:

  • A Lean Thinking pilot on the Home insurance team as it presented the greatest opportunity. The start point was to understanding the purpose – ‘to settle disputes as fairly and as quickly as we can’ (source: FOS)
  • With this purpose in mind Reinvigoration designed against demand by:
    • Removing huge product complexity by eliminating the myth that ‘every complaint is unique’  (runners, repeaters, strangers)
    • Becoming process driven by creating standard resolution guidelines for runners and some repeaters
    • Eliminating the batch and queue mentality that drove waste into processes
  • The redesigned processes promoted the flow of work and consequently lowered cost, improved service and increased employee morale

The Results

  • Thinking around complaint handling was revolutionised, creating 50% FTE savings or the equivalent of £200k p.a.
  • Significant reduction in Work in Progress (WIP)
  • Significant increase in the number of complaints closed in less than 5 days
CASE STUDY - FINANCIAL SERVICES (BANK) - PROCESS SIMPLIFICATION
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