Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

calculate cycle time An insurance company, InsurelT, has the following business process for handling insurance claims for disability insurance. Calculate the cycle time of this

An insurance company, InsurelT, has the following business process for handling insurance claims for disability insurance. Ca

\begin{tabular}{|l|l|} \hline Activity & Amount of time \\ \hline Enter claim details & 10 minutes \\ \hline Perform insuranc

calculate cycle time  

An insurance company, InsurelT, has the following business process for handling insurance claims for disability insurance. Calculate the cycle time of this process given the process model and following information: Customer pursu Junior claims handler Senior claims handler Claim submited Determine clam type Enter claim details (10) Perform insurance policy check long-term 0.8 short-term 0.2 Perform benefit as sess ment (20) X non-valid 0.2 Handle long- term claims valid 0.8 Forward to senior claims handler X Claim rejected Condlamp han Send response letter Insurance granted Activity Enter claim details Perform insurance policy check Forward to senior claims handler Determine claim type Perform benefit assessment Handle long term claims Send response letter Amount of time 10 minutes D 10 minutes 2 minutes 5 minutes 20 minutes 72 minutes 10 minutes

Step by Step Solution

3.41 Rating (151 Votes )

There are 3 Steps involved in it

Step: 1

The total cycle time for the insurance claim process is 109 minutes This is calculated by adding together the amount of time for each activity in the ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Engineering Economy

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

15th edition

132554909, 978-0132554909

More Books

Students also viewed these General Management questions