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Manzana Insurance: Fruitvale Branch

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Manzana Insurance: Fruitvale Branch
Question 1. How important is turnaround time (TAT) in this business?

In summary: The turnaround time (TAT) in the insurance business is very important. This because of the following arguments:

- The most important factor to the agents in the insurance markets is the level of service provided. One of the most important aspects that determine the service level is the speed of handling the requests (TAT).

- In addition, the factors that drive profitability in the industry are related to the needs of the customers: speed. Therefore, the TAT is also of great importance for the profitability in the industry. One additional comment, by optimizing the TAT the cost of handling requests is most likely to decrease what will increase profitability as well.

- The factors on which the industry competes has shifted from price and commissions for agents towards the service level provided. Again, one of the most important aspects of the service level is speed and therefore TAT.

Finally, a basis analysis suggests that the increase in TAT is related to the increase in percentage loss rate. What is strongly related to the decreasing profitability of Manzana. In summary: the TAT is very important in this industry because of the needs of the agents and end-customers, the aspects of competition, the factors that drive profitability and the expected relation between the percentage loss rate and the TAT.

What factors are important to agents and what factors are important to their 
customers (i.e. the end-consumers)?

In an industry where companies are highly reliable on external agents for their sales and where these same agents favor organizations that offer relatively faster Turn around times (TAT) the TAT is very important for the competitive advantage in this business.

To elaborate on the importance of the TAT: as described above, the agents are in favor of companies who offer relatively faster turnaround times. Part of their motivation is probably

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