Business Process Re Engineering
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The past strategy and office structure may not support todays growth plans of an organisation.
The changing times need faster response. Which is possible only with an organizational restructuring. The management shall look in to the pros and cons of having a 2 tier or 3 tier set up on the ready ness of the organisation for the growth challenges.
The office restructuring as functional verticals needs serious consideration. The sales office where customers are entertained will have two or three executives and a head, accepting proposal, completing the data entry and issuing only a provisional receipt. All the physical records can be removed to a record hub on short intervals, where it will be archived.
In an insurance company ,the back office or hub will be issuing policies and dispatching it to the customer. Likewise claims and renewals will be handled by the back end hubs. The model allows for outsourcing of more functions thereby reducing operational cost substantially and ensure attractive sales offices.
There is a wide feeling that the IT facilities are not exploited well in many companies. Keeping in mind that IT is not for IT, it should be deliberated as to how it can be used to increase the customer convenience. The younger generation is comfortable with net based transactions .
It is also to be examined as to how we can enable our agents, other intermediaries and associates to complete the data entry on net, there by transferring the routine job and reducing cost? It shall also ensure our reach to un represented areas at nominal or no cost !
For an insurance company its very important to provide service to customers at the time of claims. How can the company digitalize claims handling? companies are insisting on surveyors mailing the digital photos from spot/garage and completing instant claim assessment. This will ensure speedy decisions and avoid cost escalation.
The role of information in decision making can not be over emphasized.
All the more for quick points, identify critical deficiencies in present system, which needs urgent attention.All these considerations can help an organisation in the long run.