Improving Customer Communication in Pension Fund Administration
In the world of pension fund administration, clear and timely communication isn’t just important, it’s essential. Faced with a spike in customer inquiries about income statements, one professional services firm turned to Lean Six Sigma to improve its operational efficiency and client experience. Over a 10-month Black Belt project, the team used DMAIC methodology to uncover the root causes behind a 13.6% call rate. Tools like Voice of the Customer (VOC) analysis, SIPOC mapping, and Value Stream Mapping revealed key drivers: ambiguous income statements, website login issues, and sluggish IT support. By addressing these pain points with targeted solutions, like redesigning forms, automating communications, and streamlining the website experience, the team reduced the call rate to 10.5% and delivered an estimated $30,000 in financial savings. More importantly, the project strengthened cross-departmental collaboration and laid the foundation for ongoing service improvements. It’s a prime example of how Lean Six Sigma can drive measurable change in client-facing operations, one clear communication at a time.