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Question: An insurance underwriting process consists of the

An insurance underwriting process consists of the following separate stages.
An insurance underwriting process consists of the following separate stages.



What is the ‘value-added’ percentage for the process? (Hint – use Little’s law to work out how long applications have to wait at each stage before they are processed. Little’s law is covered in Chapter 6.)


An insurance underwriting process consists of the following separate stages.



What is the ‘value-added’ percentage for the process? (Hint – use Little’s law to work out how long applications have to wait at each stage before they are processed. Little’s law is covered in Chapter 6.)

What is the ‘value-added’ percentage for the process? (Hint – use Little’s law to work out how long applications have to wait at each stage before they are processed. Little’s law is covered in Chapter 6.)





Transcribed Image Text:

Processing time per application (minutes) Average work in progress before the stage Stage Data entry 30 250 Retrieve client details 5 1,500 Risk assessment 18 300 Inspection 15 150 Policy assessment 20 100 Dispatch proposal 10 100


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