Topic / Company

Insurance Application Cycle Time

ING

ING’s U.S. Insurance division was aware that its life insurance application cycle times were too long, and that its approval rate was falling short of expectations by approximately 5 percent. The company used Six Sigma to streamline the client-to-provider process and reduce the amount of time to get new insurance applications processed. Download

Private Equity Acquisitions

Kohlberg & Co.

Using Lean Six Sigma to determine whether or not to buy a business may sound unusual. But for Kohlberg & Company, a private equity firm specializing in middle-market investing, the methodology is a key component in both its acquisition process and its strategy for managing the acquired organizations. Download

Call Center Operations

TD Bank

At TD Bank Financial Group, research showed that customers were experiencing a high level of dissatisfaction when phoning the call center due to the lengthy and complicated process used to verify their identity. In response, a Six Sigma project was chartered to deliver a superior, more comfortable customer experience. Download

Operational Risk Management

Great Lakes Finance

When the Great Lakes Finance Company, a small retail and commercial lender, experienced several severe operational risk losses, a Six Sigma team redesigned the company's operational risk measurement system. The result was an annual hard savings of $6.4 million. Download

Accounts Payable (A/P) Revenue

Fortune 500 client

This Six Sigma project focused on increasing the rate at which the company took advantage of eligible discounts, and on improving its prompt-paid invoice payment process. A cross-functional team achieved $800,000 in hard savings for the firm and a 78 percent reduction in defects. Download

Billing and Fees

Insurance company

At a health insurance administrator, errors in withdrawing fees from customer bank accounts were creating internal and external counting rework. In addition, the mistakes pushed some customers to seek other healthcare coverage. This Six Sigma project tackled the complex billing process, and reduced the error rate to zero. Download

Client System Automation

FS, Inc.

When financial services provider, FS Inc., deployed an online account management system, they began to receive complaints from customers about system slowness and lost transactions. A Six Sigma team found the root cause and reduced the average response time by 90 percent. Download