Manzana Insurance Company

When the organisations are pricing each item they allow for a reasonable amount of work to be required.

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.

Besides the product and geographical focus, Progressive also emphasizes on strengthening the relationship with the over 14,000 agents to distribute its products and services. By discipline pricing, Progressive demands adequate rates to achieve underwriting profitability and is willing to forego volume if necessary to achieve profit objectives. It is committed to set individual rates more accurately than the competitors. In addition, they will promptly respond to claims reported by local claim adjusters, which deliver effective control of the claim resolution process.

Production line workers are the employees who are usually doing their work by hand or in this day and age, running the machine or equipment to make the products. In this particular case, Canada Chemicals Corporation utilizes their production employees by producing industrial chemicals. These production worker’s jobs are a lot more complete then other production level workers employees as they usually have plenty of skill, knowledge and experience, and have high educational background. In order to reverse recent challenges with production and sales, I have composed a compensation package for these employees that will motivate them intrinsically, and focus on rewards that are extrinsic.

To improve the efficiency of the TUF System and to make a large amount of profit, proper safety measures should be made by the company. Also, the systems should be redesigned, debugged so that previously encountered errors and problems are not repeated. The whole staff should be improvised by having supportive teams, technicians and project managers. Since, Northern is an Insurance provider company, more efforts are to keep on collecting proper and right information of the customer’s information and should make sure to store the data with proper backup. The data collected from the underwriters should be properly designed into a data model by the staff. The company’s staff should be trained about the latest updates in software’s, technology and the Internet, in order to make them

We pull 138 commercial revenue hours from March Exhibit 1. Multiplying that by 130%, we come up with 180 hours.

Imagine a scenario where all the workers don't have a target , we might end up with a failure because some of the workers might start shirking because the owner didn't set them a target so maybe after 2 product created they will start shirking on the job.If we think about it, let us assume that if you are a student and you don't have a target you might just end up with a D, but if you set a target such as a 1st you will do your best to achieve it. However if you don't achieve the maximum grades you might still end up with a 2;1 which is still good. Solution- the owner has to set a target to the employees and maybe also do it as a sort of competition. Perhaps some owners might set a target which might seem impossible to achieve, but if the owner is rational and think that he has to set a target that will not discourage the workers it will increase the willingness to compete with their time and beat the time. Also maybe to increase the expectations of good performance, as I said previously make it a competition. For example the first 3 worker that go beyond the target will receive a reward, this will definitely increase their performance and incentive them not to shirk. However, this solution might still have disadvantages because they might end up with conflict with each other.

Gibson Company is an insurance company that mainly sells annuities and life insurance. Gibson possesses two subsidiary companies, Midwest and Compton, which also sell the same products but with different prices and features. Both subsidiaries rely on Gibson provides administrative supports for maintaining. Gibson used to use an objective measure to calculate each policy as the support costs allocation basis. The original method did not reflect the real cost by support activities. Moreover, when the sales volume had increased, the profitability declined. The managers are considered the prices are set improper or costs are out of control. Management is looking for a better solution for solving pricing

As per the case facts, Manzana Insurance’s Fruitvale branch is the least performing branch and the senior VP seeks a report on the same. Their competitor Golden Gate (backed by its corporate parent generated a price war to gain market) is performing much better in terms of most metrics of Insurance business.

The most significant concern for Paul Davis franchisor office is quality control to protect its name and branding. This is driven by two factors. First it allows the franchisor office to sell more service territory to the new potential franchise buyers and secondly leveraging large geographical footprint it allows the brand to build new business opportunities with Insurance companies. Thus Paul Davis treats performing quality work as its distinctive capability. However, insurance companies are evolving and are demanding faster service. They no longer view quality work as the only requirement to win contracts. They simply treat it as order qualifier rather than order winner (Krajewski, Ritzman & Malhotra, 2013). The customer expects quality work and faster completion time. In other words, the mission critical requirement for the insurance company (customers of Paul Davis) is getting quality work completed in a timely fashion for its policy holders (customers of Insurance company). The insurance adjusters get graded on how quickly they can close the claims to maintain insurance policy holder’s satisfaction. This in turn generates longevity for property owners to retain the policy with the insurance company (Stevens, 2012). Even though there is a customer driven pressing need for the businesses to measure the delivery speed of the project completion, but Paul Davis is currently not focused on tracking delivery time. The company has a strong well trained workforce and

5.   If the company continues to use one technician when the customer base expands to 20 customers, the average time in the waiting line will increase to  6.9454 hours.  With an average travel time of 1 hour, the average total waiting time will be 6.9454 + 1 = 7.9454 hours.  The total cost will be $397.78 per hour.  This average total waiting time is too long and a second technician is definitely necessary.  Using output from The Management Scientist, two service technicians provide the following:

A peril is something that can cause a loss. Examples include falling, crashing your car, fire, wind, hail, lightning, water, volcanic eruptions, choking, or falling objects.

An incentive pay program can reward employees who continue to produce superior work or encourage employees who already produce good work to best. Sometimes, use an incentive system when employees are lack of enthusiasm of getting down to work and improving things. If everyone in the same job classification gets the same pay, there is no real incentive to do an outstanding job (French, 1990). Various incentive plans used to motivate all employees such as production staff, sales staff, administrative staff and managerial and professional staff on an individual basis. To be improved employee work performance, the incentive pay programs need to be fairly matched with the employees’ expectation. Properly designed and maintained incentive pay program has the potential to increase employees’ productivity and work performance.

IT plays a role in servicing a large number of clients and reduce processing cost. At the same time IT can help in churning out statistics and information necessary to analyse the performance of current and potential business. As such, Sun Life need to look into the aspect of insurance systems and IT infrastructure in Malaysia.

Gibson Insurance Company has tasked Rebecca Hampton, the controller, with reviewing the company 's allocation of corporate support costs in order to better assign the cost attributed to product lines and business units. This is important because it would help to provide better information for pricing decisions, sales compensation, and focus on areas in cost improvement. Gibson sells two categories of financial products: annuities and life insurance. They are both sold by in-house sales agents. Gibson decided to start purchasing other corporations in order to quickly grow the company’s customer base and its assets under management (AUM).