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Q1) Prince Insurance Company is reviewing complaints from customers that processing of insurance claims for glass damage in automobile accidents is taking excessive amount of time. Customers complain of calls not being returned,  talking to multiple people in the claims process, delayed processing of insurance checks, and general confusion. It is taking customers up to one month to get checks for damage claims. present process can be summarized as follows:

(1) Customer calls local agent to report claim
(2) Local agent gives instructions to customer to request repair quote from vendor.
(3) Local vendor gives request and provides the quote
(4) Customer gives quote and files claim with the quote
(5) Local agent gives claim and forwards it to claims processor
(6) Claims processor logs in the claim
(7) Claims processor waits for approval from supervisor and division manager
(8) Claims processor gives approval
(9) Claims processor cuts check to customer

problems:

(a) Describe which of the above activities would be viewed as value-added in the eyes of Prince Insurance's Customers. Justify the answer.

 (b) What non-value added activities and recommendation could be made at Prince Insurance to improve claims processing process?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M918865

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