Processing your long term insurance business is a top priority. Currently, we’re focused on stabilizing service levels—including phone service—and dispositioning the April to July inventory. Over the past week we have seen phone service levels improve.
·New long term care insurance applications are moving through the new workflow with minimal delay. At the same time, we continue to introduce process enhancements and workflow fixes to improve performance on existing applications.
·Longer talk times continue to impact service levels. However, we are seeing week-over-week improvement, which we expect to continue.
Metrics (Week of 8/19/13)
·Average Talk Time* was 9 minutes
·Average Hold Time was11 minutes
* The average length of each phone call
Processing Metrics (Week of 8/19/13)
·Case Dispositions+ were 1,995 ·Mailed Policies were 1,289 +Dispositions
include cases that moved out of inventory – issued/mailed,
NTO’s, withdrawn and
What We Are Working On
1.Stabilizing and maintaining service levels. We have restored business-critical queues (initial application review, mail and e-mail) to a 24-48 hour service levels. We continue to make progress toward improving remaining queue service levels by the end of September, including restoring proactive case follow ups, shorter cycle times and dramatically improved phone response levels.
We continue to experience lengthy hold times. As we reduce our pending inventory over the next four weeks, phone service levels will improve. You can expect phone service to be back to normal levels by the end of September.
2.Dispositioning applications. We are working on dispositioning all cases submitted between April and July, 2013 by the end of September. These cases are being prioritized by age, completeness of underwriting requirements received, those with underwriting decisions and cases with outstanding requirements.
To accelerate medical records retrieval and communication, we are also exploring new opportunities with vendors.
Thank you for your continued patience and support.
FOR PRODUCER/AGENT USE ONLY. NOT TO BE REPRODUCED OR
SHOWN TO THE PUBLIC.
Long Term Care Insurance Underwritten by Genworth Life Insurance Company and in New York by Genworth Life Insurance Company of New York. Administrative Office: Richmond, Virginia.