Report On Improving Management Of Operations For National Life And General Insurance In Oman

Identification

Operation management deals with the administration of various business practices. This is to generate the most significant level of efficiency that is possible within any business. This is related to converting of materials and labor to various services and goods. This is to maximize the profit of the company. The teams of operation management have been attempting to balance many costs with different revenue. This is to achieve the most significant net possible operating profit. It involves the uses of resources for technology, equipment, materials and staffs. The operation managers have been engaged in acquiring, developing and deliver the goods for the clients on the basics needed by clients and the company’s abilities.

Here the “National Life and General Insurance” is considered to understand the improvement of its management of operations. The organization provides innovative solutions for insurances. This also includes personalized service that exceeds the expectations of customers. They are committed to bringing quality products to the market. This is done by providing the best services to the customers.

The following report criticized, analyses and evaluated various critical operation management areas. Then for every element, the scenarios, operations, operational excellence are identified, assessed and appraised. Lastly, an overall recommendation is provided for achieving operational excellence.

Capacity management:

	Identification Save Time On Research and Writing Hire a Pro to Write You a 100% Plagiarism-Free Paper. Get My Paper	Critical evaluation	Appraising
Scenarios	The capacity management is practicing of proper size IT resources. This is to meet present and future necessities. This is one of the five areas of ITIL Service delivery. The efficiency of capacity management proactive and reactive	The capacity is the maximum level of output sustained by the company. This has been making provide and product services. The planning of capacity needs management for accepting the limitations on the process of productions	Here the underwriting capacity of National Life and General Insurance deals with the maximum liability that an insurance company has wished to assume from the underwritten activities (Means 2017).
Operation management strategy	It is proactive and reactive for National Life and General Insurance This performing well is to assure that the service and business necessities are met with a minimum of IT resources	The potential for National Life and General Insurance, for profitability, has been depending on the appetite for risk. As they assume more risk, more premiums are collected and then invested.
Steps for achieving operational excellence	The steps involved, monitoring, analyzing and optimizing the usage of IT resources. Then the demand for computing resources is to be managed. Then a mode is to be created for infrastructure performance for understanding the necessities of future resources. Then the proper size applications are to be made to assure that various service levels are met. Next, the capacity data is to be stored. Further, a capacity plan is to be produced concerning the present use, forecasted needs and supporting costs of latest releases and applications	The steps are vital for getting out the current resources, develop a cost per service unit positions and fine-tuning components of the infrastructures. Then performance is to be formed, and consumption is to be reduced and delay the upgradations (Boyabatl?, Nguyen and Wang 2017). Moreover, it is helpful to eliminate redundant tasks and assure constant reporting	As capacity management goes full stream at National Life and General Insurance, they must step back and analyze. A post-implementation audit must be done. They should perform plenty of time and data for determining what has been working and there is anything that can be improved.

Figure : “End-to-end Analytics and Decision Support for Insurance Providers”

(Source: Huang and Liu 2015, p.551-567)

	Identification	Critical evaluation	Appraising
Scenarios	It is a wide range of actions needed to execute, control and plan for the flow of the product. This requires acquiring productions and raw materials. This is done through distribution to ultimate customers in a cost-effective and streamlined way possible	It is helpful to boost customer service and reduce operating costs. Next, the financial positions can be improved. This it can raise the profit leverage, decrease the fixed assets and increase cash flows	Irrespective of dealing with dairy products or to deal with an unexpected natural disaster, the supply chain experts have been rolling up the sleeves and getting the buy. They are helpful to diagnose issues, work across disruptions creatively.
Operation management strategy	National Life and General Insurance are unable to restore the eroded market position as the customers of policy holder’s changes to competitors. These have never been curtailing productions as an event occur. The insurance also provides financial liquidity as the insured supply chain interruption is made (Diacon 2016). This is to mitigate the effect of balance sheets	In the search to decrease the costs and turn out to be effective through various digital technologies, the payments if suppliers is the area that is overlooked under insurance	However, it must be reminded that there can be a significant downturn to supply that often results in a rising in costs for acquisition of materials. These are required for continuous operations. This can also result in a total and partial shutdown of facilities that lacks resources to processes.
Steps to achieving operational excellence	The steps to achieve operational excellence for National Life and General Insurance includes risk identification, risk measurement and risk treatment and insurance	A comprehensive review is to be made for client’s exposures. The exposure of the client is to be done in an understandable and complete format. For underwriters. Here verities of tools include impact modeling, forensic accounting and gap analysis. The underwriters must use risk analysis for making qualified decisions for the vulnerability of clients and structure and price insurance coverage	The supply chain insurance for National Life and General Insurance for insured events. This must not be limited to damage and physical loss. The supply chain insurance the basic for non-physical damage events and interruption of resultant business (Christopher 2016).

	Identification	Critical evaluation	Appraising
Scenarios	Quality management is regarded as the business philosophy dealing with the idea of long-term success. This needs every stakeholder in business for improving culture, service, products and process	It is the set of operation that is followed for assuring that deliverables produced are effective. The method includes the setting of quality targets that are agreed from the client’s side	The performance appraisal must include results for providing feedback to employees for showing where the improvements are required (Reim, Parida and Sjödin 2016). This is a vital tool for achieving levels of higher quality. The performance appraisals have been helpful to diagnose to adopt strategies and organizational structure to achieve the goals.
Operation management strategy	The strategy must include providing of better services and goods, developing supply chain for National Life and General Insurance, reducing costs like tasks, tariffs and labors, learn to establish operations and understand the other market	Here, the aim of every business or provide the best services and goods that can be done possibly. Learning from business from other insurance companies have been offering insights on how to perform that	Considering the advantage for being in that position, particularly for service industries are helpful to open the overall new markets and provide a further level of quality in service provision (Goetsch and Davis 2014).
Steps for achieving operational excellence	The various steps involve setting concrete goals, making accurate measurements, various feedbacks, gamify and targeted coaching	The new organizations have been disrupting the established markets. This is done by changing the focus from the bottom line of the business towards customer experiences. Through creating the focal point of every process, the National Life and General Insurance’s way of performing transaction can be done better	The appraising must include providing the vision. This is to widely communicate what the world would look like during the event of process improvement. Next, skills are to be submitted.

Figure : “Safety & Quality management With Other Stakeholders Insurance”

(Source: Papp 2018, p.35)

	Identification	Critical evaluation	Appraising
Scenarios	This is the process to find, agree with terms and acquire services, goods and works from an external source. This is often done through tendering or competitive bidding process. This involves making buy decisions at cases of scarcity	The procurement process is an integral part of National Life and General Insurance’s strategy. This is due to its ability to purchase particular materials for determining whether the operations can continue (Hopkin 2018). Their business cannot survive the price of procurement as it is more than profit made by it on selling the real product	This is helpful to buy or obtain services and goods, particularly for business. Here, the process includes the processing and preparation of demand and the end receipt and approval of payment.
Operation management strategy	It is the most significant expense sector for National Life and General Insurance. This is normal for till 80% of overall premiums that are collected to spend on various claim payments and costs related to settling those claims. As an insurance company reduces the cost of applications, they can be provided with an excellent competitive advantage on the competition. Besides, the claim management is highly complicated with various processes that have been potentially moving on concurrently	As any claim is handled in an unprofessional manner by National Life and General Insurance, it can leave poor impressions in the mouth of a policyholder	This ultimately results in non-renewing of policies (Ottosson 2016). Besides, as the claim is well handled, this leads to the rise in rates of retention and levels of customer satisfaction.
Steps for achieving operational excellence	The operational stability is to be established regarding compliances, supplier performances, profitability and costs	Then the efficiency and ease, freeing talent and processor speed is to be deployed to concentrate on strategic initiatives	The advanced discoveries, sourcing, performance management and contracting are to be established with providers of various outsourced services, technology, software and contingent labor. This assists the current modernization of industries.

	Identification	Critical evaluation	Appraising
Scenarios	The inventory management deals with the managing of stock and inventory. This as the element of inventory management, supply chain management has been including various aspects like managing and overseeing the ordering of the list. This also includes the storage inventory, maintaining the number of sales of products	The overall steps of inventory management consists of establishments of policies of annual stocking, preparing inventory budgets and controlling inventory system. Next, it useful to maintain inventory turnover ratio and establishing procedures of optimized purchasing	Various aspects are to be considered here. In must consider secondary suppliers, special delivery, notifying primary customers and developing a plan for supply chain management
Operation management strategy	The secondary suppliers must know where to go as the services, goods, parts and components are the most complex suppliers available. National Life and General Insurance should assure that there are particular arrangements for filling and delivering the orders for primary dates and seek one who can (Harrison and Lock 2017).	As the critical orders are delayed, they must assure to notify the customers who are affected.	Further, they should document and develop strategies for protecting against various interruptions in delivering significant services and inventory.
Steps for achieving operational excellence	The various levels include modernization of legacy application, codification, management and transformation of applications, automation of customer service	The first step reduces the scopes and changes the platform they have been operating on. The data center becomes the room of engine for digital insurance and hybrid cloud (Wild 2017). Next, getting closer to customers through freeing up resources and reducing the costs around the insurance lifecycle are developed in analytics	Behind the scenes, operational excellence has been making an essential contribution to the quality of customer experience. The dependence is to be eliminated over every high-volume and low-value manual processes. It is not only about removing staff to perform an actual business, but it has also been all about decreasing errors and risks that have been going with that.

	Identification	Critical evaluation	Appraising
Scenarios	Flexibility is the capability of adapting quickly to various scenarios. The business can make internal changes. This is to respond to the changing outward situation as fast as possible	It is defined as the adaptation of people, responsiveness, composition and size and people. This is needed to achieve organizational goals and objectives	As business embrace flexibility, it is possible to get success due to the trend of outsourcing. The price points are at constant flux and markets are in high demand and realistically raise the prices (Slack and Brandon-Jones 2018). Here, National Life and General Insurance must increase the value for clients instead of sacrificing the revenue.
Operation management strategy	Updating and maintaining core systems has been consuming the most considerable part for insurers of budgets of tech expenditures	National Life and General Insurance have developed an internal model. This is helpful to analyze the central insurance systems. This has been from three initial steps. They are a corporation with potential vendors, IT cooperation and architecture and functional gaps.	Here, the operational flexibility and cost efficiency are the primary factors as National Life and General Insurance, chooses any core system (Tran et al. 2015). However, it is vital to consider to perform the selection smartly. It examines the overall system life cycle.
Steps for achieving operational excellence	Various massive number of categories has been included in quantitative scores of National Life and General Insurance. Here the emphasis is made on integrability and flexibility. This is vital for the operation of a business in the current age	These steps are helpful for low overhead, improved communication, affordable skill and knowledge, accessing huge talent pools, reliable workers and rise in productivity	Here the remote workers have needed no output for the equipment and spaces. Here, the remote workers are available through video chat, messaging at the workweek. The professionals of National Life and General Insurance possess tremendous expertise and extensive network. Through hiring remote workers, National Life and General Insurance can eradicate the geographic boundaries from the search. They can locate the most efficient candidate in the place where proper experience is needed.

	Identification	Critical evaluation	Appraising
Scenarios	The methods to identify risks, analyzing risks and development of strategies for managing risks are included in risk management. The plan of risk management is vital parts of the business continuity planning. Through understanding various risks of the business and seeking the methods to decrease the effects ate helpful to recover as any incident happens	The plan for risk management must detail the strategy to detail as the risks that are significant for the business. The time, resources and budgets are needed to allocate to prepare the plan of risk management. This is helpful to meet local obligations to provide secured workplace. This can also decrease the likelihood in incident affecting negatively to the business	The method is useful to fetch risks that are not apparent (Schönsleben 2016). Moreover, it has been providing supports and insights to the board of directors. Next, they are beneficial to get credit for cooperation. Furthermore, it is useful to create a better defense for various class actions. Next, it is helpful to decrease the business liabilities and frame the issues of regulatory.
Operation management strategy	It is seen that too often National Life and General Insurance, has been thinking that insurance is catch-all control and sufficient activity. However, insurance is a perfect method to secure the business from various risk scenarios. These are the scenarios where the insurance is unable to cover. The insurance in most of the times has been unable to consider every central competency of their business. National Life and General Insurance has been self-insuring or purchasing the coverage from reinsurer	However, this has not been assuring every risk of the company that has been accounted for. Further, one of the core competencies of National Life and General Insurance is to provide customer service to the people who have been submitting the claim. As the customers have been continuously having experiences of poor customer service, they are to share the various stories over the Internet. They can further tarnish the reputation of the company. Thus, National Life and General Insurance can fall behind the competition	For National Life and General Insurance, the customer service has been inevitably coming to the forefront of risk analysis. To address the risks, National Life and General Insurance can take steps in integrating risk management and incident management. National Life and General Insurance have been tracking incidents such as customer complaints (Hammer 2015). However, they are unable to categorize, prioritize and escalate various incidents around teams. Here, risk management for National Life and General Insurance has been helpful to identify and centralize the trends found in customer feedback. The insurance company can deploy various controls for there. This is to address the trends. This can include hiring more customer service representatives. This is to solve long wait times or deploy the call-screening to denote the less-than-useful interactions.
Steps for achieving operational excellence	To assure an efficient risk management program for National Life and General Insurance, the risk managers must look to various independent validation of the programs. Thus they should be focusing to the leading indicators revealing the efficiency of their security and loss control programs. To prevent the risks due to unpaid premiums, National Life and General Insurance must set a mechanism such that the client can pay a portion of their premiums.	The managers of National Life and General Insurance must understand the content and intent of safety and quality of organizations. They must invest them to find out that as they are functioning efficiently. They must also be supporting primary governance principles. The risk and finance managers should treat their risk management like other systems of control. This needs a defined structure. This must be a well thought-out and effective communicated plan, applied resources, budget, performance objectives and goals and management controls (Sadgrove 2016).	National Life and General Insurance should assure that their risks are continuously reported, reviewed and then approved around the company. They must provide a constant cycle of development for various risks determined. They must assure requirements and standards that are appropriately captured for the audit compliances. They must evaluate probable compliance problems with reporting the risk, impacts, gaps, expenses and many more. However, there are many ways in which the company collect and recover the premium payments done by people or the corporate a different high risk areas. For this a research on the clients must be made, a contract must be employed and a deposit must be asked. Then the options are to be weighed and a follow up must be done.

	Identification	Critical evaluation	Appraising
Scenarios	Customer satisfaction is the key to developing a long-term relationship with customers. It is the calculation of how various responses and necessities are delivered and collaborated to exceed customer expectation	This can be attained only as the customer has an overall effective relationship with its supplier. In the current competitive business marketplace, the satisfaction of the customer is a vital component and primary differentiator of various business strategies. Thus more customer satisfaction brings more effective business and bonding with customers	It depends on how efficiently it gets managed and the ways the services are delivered. This satisfaction is related to different business aspects such as the completion of projects, responses of customer queries and problems, quality of services and products, product manufacturing, marketing, company management and pose delivery services (Caruana, Ramasashan and Krentler 2015).
Operation management strategy	A plan for managing customer satisfaction is to be prepared for National Life and General Insurance. This comprehensive plan outlines budgets, milestones and initiatives to develop customer satisfaction a priority for the business. Next, the optimal customer experience is to be defined for a transaction performed by the company. Then various objectives for the measurement program of customer satisfaction are to be made. Then the dimensions are to defined that are to be measured	The effective leaders must establish a comprehensive business plan. They must limit strategic objected for managing the operations. Through assessing and measuring customer satisfaction, National Life and General Insurance can assure that the strategies are put in place. This can serve to develop business	Through analyzing attributes contributing to higher levels of customer satisfaction, one can refine the plan for focusing on improving the loyalty, experience of customers.
Steps for achieving operational excellence	The steps must include to know the market, provide more details and asking for feedback. They must respect customer privacy, treat the customer well and react promptly	For developing customer satisfaction, one must be more knowledgeable for targeting customers that are needed to serve the market. The customers must know every option as they come to work with the company. The time must be dedicated for changes they would see in future	Thus, National Life and General Insurance must understand how much customers are repeated insurers. They must also find out how often they have been losing customers due to service methods. As they require to be successful, they must understand how they are better than their competition.

	Identification	Critical evaluation	Appraising
Scenarios	The reliability is used in various industrial and business settings. This is dependent on how they are prepared and complied. The personnel in firms are seen to be reliable as they perform consistently and can gain defined objectives	The idea of dependability and reliability is utilized for various business and industrial settings. The idea is reliability is applicable where it is vital to achieve similar results repeatedly	It is calculated by results. It is relevant to the performance of data, processes, products and individuals and various other aspects (Amron and Mahmud 2017). Performance of reliability in every area is vital for successful business results and planning. For making business to be successful, its every element should be reliable.
Operation management strategy	The strategies include generational divide, evolving customer expectations, diminishing efficiencies of conventional distribution, ineffective marketing and sales strategies	The carriers must look to the latest generations for growth as the boomer generation	The consumers of every generation are to research, and the emphasis must be given real-time data through digital channels.
Steps to achieving operational excellence	National Life and General Insurance must educate through various channels at all kinds of scopes possible. Deep customer insights are to be developed for creating more active engagement. Then the different mobile strategies are to be integrated for target the present day connected customers. Next, the goal based on live events are to be deployed	Due to various misperceptions about the perceived cost barrier and complexity, National Life and General Insurance should diligent for educating consumers	In this regard, the content marketing is the go-to-strategy of the insurers in this respect. Various kinds of contents can be shared and created around multiple channels. Besides, customer satisfaction can be achieved in this concern. As per the kind of premium, present customers can be distinguished to various levels. As the customer providing the greatest premium more than one million OMR must receive escalations or query resolutions for the following special resolution group. This schemes of renewal with extra advantages and value for the monie relied on the location of strategic asset base and customer base.

	Identification	Critical evaluation	Appraising
Scenarios	This is the concern confronting every business. The sustainable practices have been leading to better corporate culture. The more reliable products and long-term profitability take place here	This includes the development of competitive advantage and brand image. There is a rise in productivity and decrease of costs, rise in business ability to comply with regulations. Then there are attracting of investors and employees and reduction of wastes	This is to become more sustainable and done through individual investment and underwriting practices.
Operation management strategy	The insurance industry has vested interests to embrace sustainability. National Life and General insurance have concurrently vexed through economic outcomes of business practices (Ledgerwood 2017)	This is done through having capability of influencing business and individuals	Further, sustainability has offered National Life and General Insurance with scopes to innovate risk management service and the latest new insurance products.
Steps for achieving operational excellence	The various levels include development insurability of environmental risks of pollution liability. Then there is a reanalysis of present environment pollution liability schemes of insurances. Next, there is an expanding of definition and scope of green insurance. Lastly, there is participating in global sustainable insurance initiatives. This also includes promoting sustainable developments within the regulatory frameworks of universal coverage	The first step can be performed through strengthening regulations. The second step is achieved through a comprehensive consultation process. The next steps are shown beyond the pollution liability insurance to various sectors	The steps can address environmental liabilities and risks and promoting environmental sustainability.

The various suggestions to be deployed to National Life and General Insurance are discussed hereafter.

Operational excellence must be followed through a linear process:

National Life and General Insurance must remain parallel to their operational procedures. This is with the flow of products across the firms. This must be started with the supply chain, through quality assurance, production and distribution to customers.

Operational excellence processes must be typically static:

Additionally, the operational activities are to be repeatable and with most specific actions. It has been creating rigidity that has been restricting flexibility in various changing conditions.

Operational excellence must not unintentionally slow down multiple operations and then stifle the innovation:

The practical focus of functional activity must be including prevention of mistakes. This is not the best environment for National Life and General Insurance’s creative thinking.

The operational process must not be kept compartmentalized:

Due to the necessity of deep focus, the stages of operational excellence must be distinct from others. The employees at one stage might have very little knowledge regarding the adjacent operational excellence activities.

Achieving competitive advantage in the rapidly and dynamic changing environment of operations:

Here, strategic management must be deployed. This is to change, include and reconstitute the external and internal skills. The skills must include functional competencies, resources. This is corresponding to the importance of change in environment that relates to the abilities.

Critical evaluation

Figure: “Operation management and business strategy”

(Source: Ottosson 2016, p.96)

Figure: “The strategic role of operation management”

(Source: Tran et al. 2015, p.164)

Conclusion:

To respond to the challenges, the National Life and General Insurance must reconsider the business strategy. These transforming product lines have been adapting to the persistently volatile economic environment. They must be focusing on various risk management in complying with evolving changes that are regulatory. National Life and General Insurance must be adopting to meticulous, automated and repeated approaches for managing risks and gather data in line with various regulations. Further, they must be understood that in performing that the changes in a current operating model must be more industrialized and sustainable. The working models must deliver various tasks for distinct business units in silos and develop multiple processes and information for the same type of functions. They must create different redundant sub-functions as National Life and General Insurance grows. For instance, customized reporting solutions for each unit of National Life and General Insurance and doing manual interventions can be prepared. This is to deliver the needed reports that turn out to be error-prone and inefficient. However, it must be reminded that National Life and General Insurance must not be slowing down in industrialising various operations. This is because of the perceived notion that business units and an individual product like have technology needs and unique support.

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