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Six Sigma in Insurance Companies

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  • #28915

    Sinnicks
    Participant

    Folks:
    Do you know of any insurance companies implementing or aspiring to Six Sigma?
    Among the excuses I’ve heard for not adopting Six Sigma at my (Top Five) insurance company: that’s for financial companies, not for insurance companies; that’s for transactional companies, not service-based companies as ours; we don’t want to cloud the issue with more metrics and numbers than we already have; and my personal favorite–that would be arduous.
    Thanks,Mark

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    #72816

    RR Kunes
    Member

    Proper indoctrination will help. I work for a financial company and it works, Bank of America is kicking off a huge implementation.
    The key to understanding six sigma is that it is process oriented. Any process can be improved utilizing the six sigma tools.
    Perhaps you can convince an exec at your site to interface with Bank of America.
     

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    #72824

    Ali Kamal
    Participant

    It really doesn’t matter.  Just like in any business going Six Sigma, it all comes down to selecting/completing projects to meet the corporate cost savings quota for each black belt regardless of the actual value to the corporation or effect on quality.  Just like the companies that chop the bottom 10% each year.  It all comes down to producing some good numbers on paper for the CEO to add up and show the stockholders (truth and reality are optional.)

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    #82922

    Sam Aborne
    Member

    I am hoping to aspire to Six Sigam for Farmers Insurance Group. I know that Prudential was/is headed in that direction.
    Sam

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    #82925

    BB
    Participant

    GE Financial Assurance (GE’s Insurance group) has used Six Sigma since 1996 and has a robust and effective program.

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    #82926

    Sam Aborne
    Member

    Do you know if they have any published case studies for their area?
     

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    #82943

    vidyut
    Member

    six sigma is about reducing errors, avoiding mistakes, reducing costs.
    Is insurance not interested in these aspects?

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Viewing 7 posts - 1 through 7 (of 7 total)

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