India-based Life Insurer Improves Customer Retention Through Six Sigma, Quality Tools
- May 2014
- pp. 1-5
- Wise, Adam
Recognizing their company’s customer retention rate dipped below acceptable levels, Max Life Insurance Company leaders initiated the quality improvement project, Unnati, to reclaim deeply lapsed policyholders. Using Six Sigma and quality tools, team members identified more than one dozen possible solutions for sales agents to improve relationships with customers and recoup their business. The improvement project helped put Max Life on the path to nearly tripling its retention rate while generating $8.6 million in additional revenue. Project Unnati was named a finalist in ASQ’s International Team Excellence Award Process.