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
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Case Manzana Insurance: Fruitvale Branch Manzana Insurance is one of the largest property-liability insurers in California (USA). Fruitvale is one of Manzana’s smaller branches‚ with three underwriting teams supporting 76 agents in three geographical territories. Fruitvale is at this moment facing deteriorating profits due to operational problems. The effect of these operational problems is (particularly in comparison with competing insurers like Golden Gate) a high Turnaround Time (TAT)‚ a high
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Fruitvale Branch of Manzana Insurance is experiencing loss of business due to late renewals‚ and long lead times on new policies and quotes. These problems have created an opportunity for a competitor to take market share. Incorrect interpretation of company income for new policy versus policy renewals has placed an overemphasis on new policies that is causing loss of profitability. The company has official priorities with respect to turn around time and processing order of insurance policies. Officially
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1.How is the Fruitvale Branch doing? How the branch is doing according to key external performance measures-financial performance‚ turnaround times‚ late renewals‚ and renewal rates. Fruitvale encounters a significant loss of business due to late renewals‚ and long lead times on new policies and quotes. From the following perspectives‚ we can have a better view of what Fruitvale Branch’s problems are:Financial performance: Profitability is declining. It suffered a loss of $174 and $121 in 1st and
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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 and
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Case question 1 Manzana specialized in commercial insurance‚ with property insurance‚ making up 65% of its revenues‚ liability insurance 20%‚ and investment income and miscellaneous specialty lines constituting the remainder. Golden Gate Casualty is one of the largest property-liability insurers in California‚ it is also the powerful competition with Manzana in the market. Below listing 3 advantages with Golden Gate: Golden Gate promise of one-day turnaround time to all agents‚ Manzana got lots of complaints
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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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Overall Performance of Manzana-Fruitvale: The Fruitvale branch of Manzana Insurance is struggling right now. “Branch profitability was declining. The backlog policies had increases since 1989‚ and the number of new policies and endorsements appeared to be stagnating.” To make matters even worse their main competitor‚ Golden Gate‚ had no problem taking business away from Manzana while they were struggling. Exhibit 1 shows some of the key metrics for Manzana the past two years and for Golden Gate
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otherwise—without the permission of Harvard Business School. 1 Manzana Insurance: Fruitvale Branch (Abridged) It was a Monday morning in early September 1991. Bill Pippin had been at Manzana for only a week‚ but already he was thinking that perhaps he should have taken a different job. He gazed at a note on his desk from John Lombard‚ his boss at the Fruitvale branch: “I’m giving a speech at a conference on property insurance‚ so I’ll be out of the office until next week. Please give this some
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GANTT CHART FOR SECURED COMPUTERIZED GRADING SYSTEM In this project we have this specific list to complete our proposed system; Secured Computerized Grading System. We arranged it by week so it can clearly show the breakdown of the entire task we did. Our first task is to complete our Assignments. We completed this task within 26 days. We started November 14‚ 2013 and finished it December 10‚ 2013. Under our Assignments‚ there are 9 specific tasks. First is for the Project Title‚ Objective
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