ROI Case Studies from Lean & Flow Seminars
Business type: Annuity Investment Firm
| Event | Before | After | % Improved | | Days for receipt of transfer dollars | 22.78 days | 19.1 days | 16% | | Average PR per file | 2.7 | 1.5 | 50% | | Days to complete all PR per file | 66.1 days | 16.3 days | 75% | | New Business Time telephone contacts per call average | 3.8
minutes | 2.57
minutes | 33% | | Total call time per person | 24 hours | 17 hours | 28% | | Number of mailings | 6 (avg.) | 4 (avg.) | 33% | | New Application Entry per person | 46 | 71 | 65% | | Dollar saved in mailing $1300 | | | |
Focused on reducing the average length of time it takes to clear the
entire file. Time begins when an application is submitted by the Agent
through the final documentation and post review. This chart demonstrates
the length of time it takes to complete the required details (by law)
after the file is put into force. If a file had four missing
customer-response items, it previously took 117 days to complete the file
(average) and with the improvements the new average is down to 65.3 days.
This is a 46% reduction in Pending Requirement processing time.
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