Identifying a solution to one of the three major areas

Assignment Help Project Management

Reference no: EM133276413

Case: Canadian Financial Insurance is a national insurance company that has continued to do business in Canada since 1892. Currently Canadian Financial Insurance specializes in personal and commercial insurance, and some specialty line market areas insurance including mines, marine and aviation. At onetime Canadian Financial Insurance was known as the juggernaut of the insurance industry in Canada, and ranked in the top three performing companies in the country for over 40 years. However, over the last five years, Canadian Financial Insurance has witnessed a slow decline in its success, and is now ranked as a top 20 insurance companies. Known as a traditional insurance company and slow to adopt change, Canadian Financial Insurance has not implemented technology like many of its competitors. Canadian Financial Insurance also relies heavily on its broker channel, and does business with over 1,000 independent brokerages across Canada

Canadian Financial Insurance at one time was known as having a reputation for the best claims service in the industry, whereas now they have one of the worst. As of recent, Canadian Financial Insurance has experienced a major back log in claims handling, causing a delay in customer response times, and settlements. Recently, Canadian Financial Insurance has also received a 45% customer satisfaction rate on their claims service. A large part of why the claims experience has suffered at Canadian Financial Insurance is due to the fact that they are still relying on an older paper claims filing system, and limited resources in their 24 in-house contact center.

Judy Chan, the new CEO of Canadian Financial Insurance is driving change and is challenging her company to come up with new and innovative ways to drive the company forward towards its strategic goal as a Top 3 insurer in Canada. The goal includes; 1) possessing the reputation for the industries best claims service; 2) practicing leading technical underwriting excellence; 3) being the market of choice by the independent broker channel. As an up and coming project manager, your role is to champion change by identifying a solution to one of the three major areas of development listed above that Canadian Financial Insurance is confronted with.

In the business proposal you should include:

• The project name - what will people refer to your project as?

• The project solution - what will your project do to solve the problem?

• An executive summary, analysis of a the current and future state of the initial problem

• An outline of how the project will link to Canadian Financial Insurance strategic goals

• A high-level costing estimated needed to complete the project

• A high-level estimate of resources needed to execute the project deliverables

• A high-level work-break down structure of tasks - roughly what needs to be done to complete the initiative

• A high-level view of your project team including your project sponsor, and project manager which is you!

• A high-level timeline, and major milestones of the amount of time needed to complete and implement the project.

Reference no: EM133276413

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