Projects
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
