Cannsult Inc | Business Consulting Services & Lean Certifications

How we help small and mid-sized businesses

Insurance Consulting

Insurance and the Cannsult Value Proposition 

Cannsult Understands the Insurance Industry

From health to life to auto insurance, Cannsult has guided insurance organizations to significant improvements. The insurance industry is facing several changes and challenges in recent years including technological advancements, customer expectations, shifts in the risk landscape, the regulatory environment, talent and workforce transformation/talent gaps, Cybersecurity risks, and evolving distribution channels.

Understanding Technology’s impact on Manufacturing

Technology has had a significant impact on the insurance industry, transforming various aspects of the business. It has revolutionized the way that insurers interact with customers; online platforms and mobile applications allow customers to easily compare policies, obtain quotes, purchase coverage, and manage their policies conveniently. Digital tools such as chatbots and virtual assistants provide instant customer support. 

How we work with you to improve your organization

01

Discovery and Planning

02

Prepare Leaders and Infrastructure

03

Implement Daily Problem-Solving

04

Root Cause Analysis Projects

Discovery and Planning

  • Understand the organization. (Type of Manufacturing, Customer/Market, Company History, Org Structure)
  • Understand your organizational goals.
  • Understand current challenges and risks facing your organization.
  • Meet the team and understand resource constraints.
  • Prepare a high-level plan including scope, timeline, resources required, and expected ROI.
  • Solidify Statement of Work.

Prepare Leaders and Infrastructure

  • Understand current infrastructure to support improvements. (if any)
  • Identify internal Continuous Improvement Lead(s).
  • Meet with each Departmental or Business Unit Leader. (in scope)
  • Perform an initial Assessment to identify opportunities and to be used as a baseline.
  • For each Department/Business Unit:
    •  Create a high-level process map.
    • Identify KPIs. (aligned with Organizational goals)
    • Establish Visual Performance Management. (A graphical representation of KPIs)
    • Perform a Gap/Opportunity Assessment.
  • Prioritize Gaps and Opportunities.
  • Provide training to leaders (Sponsors, Champions) who will be supporting the Improvement Teams. (2-day training)
  • Provide stakeholder training; a high-level overview of the method, tools, and terminology to ensure organizational alignment. (2-hour training)

Implement Daily Problem-Solving

  • Select initial areas of focus, Departments, Functions, or Work Areas. Which may include core functions, Engineering, Supply Chain, Production, Quality, etc. And/or support functions, HR, Technology, Finance/Accounting, Legal, etc.

  • Prioritize and scope based on impact on organizational goals, logical sequence, and resource availability.

  • Select initial daily problem-solving teams.

  • Provide training for daily problem-solving teams. (5-day training)

  • Implement Daily Problem-Solving and Visual Performance Management in each selected area.

  • Identify issues to be escalated; issues that require a higher skill level to resolve. (E.g. cross-functional issues, high complexity, high risk, high cost, etc.)

Root Cause Analysis Projects

  • With Departmental Leaders, prioritize escalated issues based on impact, logical sequence, and resource availability.

  • Select initial Root Cause Analysis (Green Belt) teams.

  • Provide Green Belt Training (Root Cause Analysis project training) for selected team members; Projects launched during training. (8-day training) 

  • Provide project direction and support throughout the project duration. (Estimate 3 to 4 months for each improvement project)

  • Provide direction and support through project closure.

  • Validate improvement results and calculate ROI.

 

cannsult improvement examples (quick version): insurance

  • Decreased Fraud Case cycle time. (Increased savings, increased recovered dollars, decreased excess costs)
  • Improved Fraud Case accuracy. (Reduced false negatives and false positives)
  • Decreased cycle time for Network Intelligence.
  • Implemented a Change Control system.
  • Decreased System Downtime.
  • Minimized incomplete data files.

Similarities between Insurance and other industries.

When creating a culture of Continuous Improvement, in some ways, the Insurance industry is no different from any other industry in that the same high-level steps apply.

01
Discovery & Planning
Understanding the Organization's Goals and Current Scenario, White Belt training for the whole organization
02
Prepare Leaders & Infrastructur
Establish Steering Committee, Functional Leaders complete Blue Belt (Sponsor) Training, Create Functional high-level process maps and identify KPIs.
03
Implement Daily Problem-Solving
Prioritize and plan for functional daily problem-solving, frontline employees and supervisors complete Yellow Belt training.
04
Launch and Support Root Cause Analysis Projects
Team Leaders or selected participants complete Green Belt training.

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