Reference no: EM133616686
The Manitoba Mutual Insurance Co. (MMIC) is kicking off a new project that has two core items in scope: upgrade the customer self-serve portal to enable customers to pay their bills online (and automatically reinstate delinquent policies), and update all of their core insurance systems (policy, billing, and claims). For this assignment, we will focus on the former, online bill payments.
Regarding BO6: Payment methods are tracked manually by Billing Specialists on each payment that day (sometimes on paper), so there's no consistent way to tell what methods are being used.
These objectives align with some of the business goals defined in the project charter including:
Provide convenient options ways for clients to pay their bills;
Improve the efficiency of the Billing team; and
Better understand customer preferences for biIling and payments.
The key stakeholders from the Customer Service, Accounting, and Billing departments would like a way to measure how successful these changes will be in aligning with these goals.
Indicators to use in the exercise:
Indicator 1 - What is the perceived value of the service provided by the customer portal before and after the changes for all customer segments?
Indicator 2 - Is the new functionality saving the billing department time?
Indicator 3 - What is the distribution of payment methods for payment made either via the portal, or manually per existing process?
Exercise
Exercise 1: Collection, Analysis and Reporting
Briefly explain the difference between collection, analysis, and reporting, in the context of metrics and KPIs.
Exercise 2: Analyze the Indicators
Given the three Indicators in the case study, define one portion of the indicator (be creative), and list the key strengths and weaknesses of each indicator in relation to the desired business value. For each indicator, try to be brief in your explanation's definition, strengths, and weaknesses.
Indicator 1: Define the collection process.
Indicator 2: Define the analysis process (assume all the data types you need for analysis were collected).
Indicator 3: Define the reporting process (assume data collection and analysis provide what is needed for reporting).