Can best practice or Lean behaviour reduce insurance costs when insurance is a global commodity market? In theory, yes it can. In practice, like insurance, it is a subjective science but there is evidence that best practice does make a difference. Will Stirling reports.
Best practice, Lean, effective management, world class manufacturing – call it what you will, these techniques encourage operations that contribute to a safer, more efficient, less wasteful working environment. But do they actually reduce insurance costs? The easiest component of Lean to apply to insurance is health and safety (H&S) practice, which feeds into risk…
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