Question: Is the system made by KIC will help them to resolve all the cases ? KIC Insurance company receives 1000 claims per month and makes

Is the system made by KIC will help them to

Is the system made by KIC will help them to resolve all the cases ?

KIC Insurance company receives 1000 claims per month and makes accept/reject decisions. Assume 30 work days in a month. On average, 20% of the claims they receive are approved. An internal audit showed that they have on an average 500 claims in the system at any point. The company piloted a new triage system which classified claim applications into A (excellent), B(careful), and C(reject) categories. The pilot showed on average 25% were As, 25% Bs, and 50% Cs. They also found typically 70% of As, and 10% of Bs were approved during detailed review.All Cs are straight away rejected. The audit team found that on an average 200 applications were triage team, and 25 with A team and 150 with B team at any point in time

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