Improvement of the waiting time for a quote in the subscription area through the lean six sigma at insurance company

Abstract

A recurring problem in the Financial Activities and Insurance sector, specifically in insurance companies, is the speed of response to quotes, as this delay has several effects, such as the level of customer experience. The objective of this research is to determine the root causes of the main problem in the insurance company. Also, the implementation of Lean Six Sigma, based on the DMAIC tool, belonging to LSS, will be carried out to achieve an improvement in the waiting times in the subscription area. Once the root causes have been identified, we will proceed to define the improvement objectives for each one of them and the solution tools. The project will be based on the application of 5S, standardization of the work method and Voice of Costumer (VOC) to reduce the current waiting time of 11.186 days by 10%. This will be achieved by identifying the person responsible for each activity, developing procedures, detailing activities by periods and monthly indicators. Finally, the cost-effectiveness of the implementation will be evaluated in terms of expected savings and gains in three different scenarios, to assess the variables with the greatest impact and anticipate monetary losses.