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How to reduce loss ratio in insurance
By The Lab Consulting Knowledge Work Industrialization Virtuous Waste
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The Massive Tax Of Satisfaction On Knowledge Work

The excerpt below was taken from an article featured by Forbes.
Read the full article here.


At a bank’s contact center, a customer service rep is satisfied. He has just finished helping a bank teller complete a wire transfer.

At an insurer’s home office, the administrative manager is satisfied. She has contacted the sales rep and the customer several times and obtained missing information for an insurance application.

Analyze the root causes of their routines and you will discover that 40 percent of their workday is squandered on avoidable remediation activities.

They are satisfied with their work, they will explain, because they are preserving revenue, improving customer satisfaction and making the sales force more productive. To them, this activity is virtuous.

But look deeper. Analyze the root causes of their routines and you will discover that 40 percent of their workday is squandered on avoidable remediation activities…

Continue reading this article at Forbes.com >

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