problems faced by Fruitvale branch of Manzana Insurance in the mid 1991 and recommendations given to them. Manzana insurance specializes in commercial insurance but the Fruitvale branch handles only property underwriting. Currently the branch is confronted with problems like high turnaround time‚ reduced profits and stiff competition from other players. Performance of the Fruitvale branch The Fruitvale branch of Manzana Insurance is highly underperforming
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performance: Profitability is declining. It suffered a loss of $174 and $121 in 1st and 2nd quarter of year 1991. (Exhibit 5)While premiums went up about 10%‚ ordinary insured losses went up about 50% from 1st quarter of 1989 to 2nd of 1991. Also‚ Operation expenses went up about 15%. (Exhibit 5)Turnaround times: Increasing quarterly. Since 2nd quarter of 1990 to 2nd quarter of 1991‚ the weighted average TAT has increased from 5.1 days to 6.2 days. (Exhibit 6)On the other hand‚ Golden Gate’s average
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i. Measurement of SCT‚ TAT time‚ and processing times: TAT & SCT: The 95% SCT is used as a predicted completion time given with 95% confidence to the agent‚ thereby giving a realistic timeframe of turnaround for a single policy. While a useful measure for a single policy‚ the average processing time of all tasks is necessary to calculate the schedule for the week. By adding the throughput time per day of each step to calculate the TAT time‚ the manager is assuming a batching of policies which
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Summary The main problem of Manzana Fruitvale is a significant loss in profits. It originates in operating performance failures characterized by a total throughput time of 8.2 days. This situation can be improved through structural changes in the underwriting process‚ reorganization of the incentive structure and redefinition of priorities concerning renewal policies. The total turnaround time (TAT) then decreases to 0.7 days. Industry Manzana Insurance is a leading player in the Californian commercial
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1. How is the Fruitvale branch doing? On viewing the financial performance of Manzana Ltd.‚ we see that the branch profitability is decreasing. There is a huge backlog of policies‚ which is resulting in delays for current orders too. The number of new policies and endorsements appeared to be stagnating‚ whereas the rest of the industry reported moderate growth rates. According to the figures of the present quarter‚ Fruitvale had shown a decline in insuring new policies whereas Golden Gate
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Operations Management ____________________________________________________________ _________________________ Case Study Manzana Insurance [pic] Presented to: Prof B. Mahadevan Submitted By Group 12 (Section B) Peeyush Razdan (0811115) Shalekh Banka (0811124) Shalem Anand Tirkey (0811125) Shreshth Sharma (0811128) Sumeet Mittal (0811131) Manzana Insurance As per the case facts‚ Manzana Insurance’s Fruitvale branch is the least performing branch and the senior VP
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PROD 529 Fall 2010 Manzana Insurance: Fruitvale Branch Case Executive Summary In 1991‚ Manzana Insurance’s Fruitvale branch was suffering on many performance measures including obtaining new policies‚ retaining current policies‚ long turnaround times‚ and the accumulation of a backlog of renewal policies. There are a number of problems leading to these poor performance measures including unbalanced work load on the underwriting teams‚ department utilization‚ work prioritization‚ and some
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Homework 2.1.2.0 1. In addition to clay minerals‚ what other soil constituents contribute to total CEC? The Organic Matter present in the soil. 2. How does CEC buffer nutrient concentration in soil solution? CEC will exchange ions continuously between the solution concentration until both of the concentration has neutralized. 3. Why does anion adsorption appear to be of little importance in most agricultural soils? Why are AECs of ultisols usually greater than those of mollisols?
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correctly the TAT. In exhibit #3 shows that the TAT for a particular week is 8.2 days (0‚6+3.4+2.0+2.2)‚ but this means that the process is carried as a batch process‚ every process must be finished in order to go to the next one‚ and that is not the case (The possibility is very slim (5%)4) Other observation is that the 95% STC (Standard Completion Time) used is too conservative‚ using the Little’s law‚ we can estimate a theoretical lead time of 2‚1 days ( Inventory (I) = 82 requests‚ Job’s arrival
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The Case Brief: Manzana Insurance is the second largest Insurance Company in the Property Insurance space in California. The case relates to one particular branch‚ the Fruitvale branch‚ which has been losing market share to its competitor Golden Gate. This branch deals with the commercial property insurance and has three underwriter teams that cater to 3 geographic territories. On an average‚ the Fruitvale branch receives around 39 requests per day (22 requests for new insurance and 17 renewals)
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