Boston, MA (PRWEB) October 02, 2013
Enlighten Operational Excellence, a provider of software and services designed specifically to drive operational performance, today announced that Suncorp has achieved significant results using the company’s workforce optimization transformation program. Enlighten’s approach, using performance metrics and analytics, combined with a highly structured and prescriptive transformation program, helped Suncorp drive growth and productivity, as well as improve customer service levels. Suncorp leveraged Enlighten’s suite of advanced analytics software tools and management, training, mentoring and coaching methods to yield multi-million dollar yearly cost savings.
“Productivity gains and cost reduction are critical for protecting our market share and profits, however high customer service levels are just as important,” said Matt Pearson, executive general manager, Suncorp. “At Suncorp, we are passionate about improving customer service, reducing turnaround times, and lowering costs. Enlighten has allowed us to quantify the level of productivity of our teams and added the science to the art of our high-performing culture. The Operational Excellence program has given us the tools to achieve clarity around what is required to increase productivity and customer service, while lowering costs significantly.”
Suncorp Group includes leading general insurance, banking, life insurance, superannuation (pension plans) and investment brands in Australia and New Zealand. With more than $95 billion in assets, the Group has 16,000 employees and nine million customers. Suncorp must continually find ways of reducing costs, improving performance, preserving jobs and lifting productivity. Enlighten worked with the Suncorp team to transform the entire commercial insurance business unit, covering nearly 400 teams and more than 2500 full-time employees.
Overall results of the program include:
- Achieved capacity improvement of 644 full-time employees
- Achieved direct cost savings of $57 million per year for an investment of $7 million in year one (consulting and software)
- Gained overall productivity increase of 58 percent
- Reduced cycle times by 38 percent
- Net promoter score (NPS) from +11 to +26 (136 percent gain)
- Increased efficiency by 66 percent
“Insurance is becoming a more intensely competitive marketplace, with aggressive branding campaigns offering ever more attractive rates,” said Tony Tregurtha, founder and CEO, Enlighten Operational Excellence. “Over the course of our program, customers have been able to transform their back office culture, resulting in teams focused on performance and quality. Suncorp demonstrated the dramatic improvement in visibility and control of its business that resulted in breakthrough improvements including cost, productivity, quality and the customer experience.”
About Enlighten Operational Excellence
Enlighten Operational Excellence analytics tools, services and training help organizations dramatically, quickly and continuously measure, analyze and improve back- and middle-office operational performance. The Enlighten program provides transformational and sustainable operational improvements that yield an exceptional return on investment. Enlighten is privately held with headquarters in Boston and Sydney. For more information, visit http://www.enlighten-opex.com.