Reliance Life Insurance wins national awardJune 6th, 2012 - 4:40 pm ICT by IANS
New Delhi, June 6 (IANS) Reliance Life Insurance Company, a part of Reliance Capital, Wednesday said it has received a national award from the Quality Council of India (QCI) for reduction in branch operating expenses through the use of new technologies.
Minister of Tourism Subodh Kant Sahay presented the D.L. Shah National Award on Economics of Quality to Reliance Life Insurance Company at the 7th National Quality Conclave of Quality Council of India here recently.
“Quality has been adopted as a way of life at Reliance Life Insurance. We are honoured to have won this recognition from a prestigious organization like the QCI for our continuous efforts in efficiency and productivity enhancements through application of quality management practices,” Malay Ghosh, president and executive director of Reliance Life Insurance said in a statement.
The company has received the award for using lean six sigma methodology.
Reliance Life Insurance, which has been using the lean six sigma methodology to address various business complexities in a structured manner for over three years now, has achieved a significant cost saving of Rs.37.5 crore by applying quality management initiatives and involving employees across the organisation in the process.
The Quality Council of India - D.L. Shah Award has been instituted with a view to demonstrate that bottom-line benefits can be achieved through quality initiatives.
The award also recognises successful projects in an organisation that have linked quality initiatives to real-term financial gains and competitiveness.
- India to host 8th Asian Network for Quality Congress - Oct 01, 2010
- IPO norms to be out once valuation method is finalised: IRDA chief - Sep 15, 2011
- Reliance Life Insurance in talk with banks for tie-up - Aug 19, 2012
- Reliance launches online life insurance product - Jun 20, 2012
- Penalty on HDFC Standard Life seen as warning - Jul 03, 2012
- Reliance Life's World Cup-linked literacy initiative begins - Feb 20, 2011
- Reliance Life Insurance to hire 5,500 agents on payroll - Aug 16, 2012
- Reliance Capital to consider special dividend: Ambani - Sep 04, 2012
- Nippon Life to invest $290 mn in Reliance Capital arm (Lead) - Jan 19, 2012
- Reliance Capital to pay special dividend of 50 percent - Sep 10, 2012
- Reliance Life launches literacy promotion project - Feb 16, 2011
- Profitability big challenge for Indian insurers: Report - Apr 11, 2011
- Nippon's pact for 26-percent stake in Reliance asset firm - Mar 22, 2012
- Reliance Capital pact with Nippon in areas beyond insurance - Sep 01, 2011
- Anil Ambani talks of unlocking shareholder value (Roundup) - Sep 27, 2011
Tags: bottom line benefits, business complexities, continuous efforts, crore, lean six sigma, life insurance company, management initiatives, minister of tourism, national quality, prestigious organization, productivity enhancements, qci, quality council of india, quality initiatives, quality management practices, reliance capital, sahay, six sigma, six sigma methodology, subodh