Herding CATS (Cost Action Teams)

Project Detail

Client: A large financial services company

Business Area: Group, Life, and Health segments

Opportunity: Identify and realize general cost savings through fast, action-oriented Workout approach

  • 120+ employees in one business segment each did only 2.2 days of work per person-year on compliance testing
  • Centralized testing teams in other segments had significant opportunities to improve team performance efficiency
  • Business segments had different rules for applying tests

Approach: Conducted seven 2-day events to focus on different types of waste (e.g., printing cost, external contracting for claims investigations, etc)

Results:

  • Identified $4.5 million in potential gains and made action plans to investigate and/or implement changes
  • Action plans harvested $3 million in 2007, with other opportunities still under investigation

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