Bankers Insurance re-engineered the insurance process from start to finish. We broke the mold on the flawed “Quote my coverage at renewal” cycle and instead approach the subject as if manufacturing a product. Read on to learn how our product stands out from the crowd.
Plan, Do, Check, Act
A manufacturer’s work doesn’t stop after a new product is introduced. Most are familiar with the teaching of W. Edwards Deming and what has become known as the Deming Cycle. This repetitive process of PLAN, DO, CHECK, ACT forms the backbone of continuous quality improvement embraced by the manufacturing industry. But the Deming Cycle is applicable to insurance as well.
If you’ve followed our other articles on manufacturing insurance, you will notice we manage this program in the same circular spiral of the Deming Cycle. Instead of beginning at a client’s renewal, we engage in PLAN well ahead by preparing our clients to shine in the eyes of insurance companies. We market their insurance applications in a manner that ensures broad coverage at low prices, then implement a tailored insurance package (DO).
But our work doesn’t stop after insurance is in place. Our insurance program also includes post renewal checkups (CHECK). In this manner, we ensure the insurance package is implemented as agreed and also address other key areas of improvement. Together, we plan how to continue the cycle. In such a relationship, we hold each other accountable to ensure necessary post-renewal actions are executed (ACT). The entire Deming Cycle repeats as we chart progress and plan for the next renewal.
We hope you’ve enjoyed this series on how Bankers Insurance has re-engineered the insurance process. To learn more, visit manufacturers insurance or contact us at firstname.lastname@example.org or (800) 541-1419.
Manufacturers Insurance Quote.