Lean Six-Sigma Driven Cycle Time Reduction in Insurance Claims Processing

Objective: To reduce the end-to-end cycle time of insurance claims processing using Lean Six-Sigma methodologies.

India's insurance industry faces customer dissatisfaction due to long processing times for claims, leading to increased complaints and policy lapses. Reducing cycle time is critical for improving customer experience and operational efficiency in a highly competitive market.

The project requires the team to apply Lean Six-Sigma frameworks, particularly DMAIC, to analyze and redesign the claims process at a mid-sized Indian insurance company. Students will collect and analyze process data, identify bottlenecks and waste, and interview process owners to understand operational pain points.

Deliverables include process maps, root cause analysis, process improvement recommendations, and a pilot implementation plan. Quantitative analysis using tools like Pareto charts, cause-effect diagrams, and statistical analysis will be expected to support recommendations.

The business impact will be measured in terms of reduced turnaround time, improved process efficiency, and enhanced customer satisfaction. The findings will inform operational decisions on process redesign and resource allocation for sustained improvements.