Bpr for Life Insurance

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Words: 3165

Pages: 13

Category: Business and Industry

Date Submitted: 08/24/2011 05:02 PM

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The current major issue of the life department is that not able to cope with large volume of business as result of new marketing expansion. Because of this issuing of life policies is getting delay and also commission generation for new businesses getting delay & not accurate. This caused to dissatisfaction of all the stakeholders of the company.

This issue need immediate attention since life insurance business is very important component of the insurance business, which brings long-term profit to the company.

According to my personal view this issue could address two most important ways one is development of resources i.e. both human resources and physical resources. And other one is development of effective business process, but not the mess of patchwork for the existing business process, new process which forward and future oriented. .

This suggestions more or less toward to develop more effective working process to life new business process where the most problematic area in the department, but the mean time we could not neglect the claim administration and service part.

This study base on the work-study which I have done at the department, formal and informal discussion had with management of the organization and the study of the benchmark process of other organizations. These suggestions may not be the most adequate, but I hope it will be provide some guideline to develop more effective business process for life new business.

Current Work Process of New Business

(Standard Type of Life)

Provide Life Insurance Quotation To Customer

Received Proposal Form To Branch

Register At Branch Proposal Register & Give Proposal Number

Send To Account Dep. Of Head Office, Proposal Forms With Deposit Receipts

Account Dep. Tallied The Deposit Receipt With Bank Slips

Hand Over Proposal With Copy Of Deposit Receipt To Life Dep.

Check The Proposal Form & Put Date Stamp

Register Proposal At Proposal Register

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