Insights from The Lab

Cost Reduction

Category : Cost Reduction


Lean principles in insurance: Insurance process improvement with a Lean Six Sigma Transformation Project

If you’re running a life insurance business, there are only so many operating costs you can cut, right? Or there are only so many productivity gains you can wring from the resources you have left, right? Wrong. The very notion that you have to choose between reducing insurance operating costs and increasing productivity is what …

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How to reduce insurance operating costs with lean claims transformation: Cost of claims control strategy implementation

Our previous article reviewed the claims leakage reduction project design requirements for an insurance claims transformation project. This article will discuss both the implementation and ongoing improvement, based on The Lab’s lean insurance claims experience with numerous insurance companies across the country. Just as important, we’re going to zero in on some important details, based on …

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How To Implement a Lean Supply Chain Transformation in Just Six Months

This case study focuses on a supply chain process improvement initiative that was implemented for a Fortune 500 company with lean transformation from The Lab Consulting. It zeroes in on the order management process in the supply chain. Specifically, it targets the lean transformation of the order-to-cash cycle in the wake of an ERP investment …

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Lean Contact Center Transformation: Reducing Cost Per Call by Improving Efficiency

In this case study, we’re diving into the deep details of a lean six sigma call center project.

The goal was to improve call center efficiency while decreasing cost per call in the bank’s personal, private, and business banking segments. The processes of contact-center reps and support teams—spanning 1,700 employees in five different countries—would all be scrutinized in order to effect this lean call center transformation. That’s where The Lab comes in.

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