RISK MANAGEMENT AND SERVICE QUALITY GAP USING GNI AS A CASESTUDY

BY: AKINTUNDE OLUSEGUN

WHAT IS RISK MANAGEMENT WHAT IS ENTERPRISE RISK MANAGEMENT WHAT IS SERVICE WHAT IS SERVICE QUALITY GAPTHE GAP MODEL USING GNI AS A CASE STUDYDETERMINANT OF SERVICE QUALITY GAPMETHOD OF ENHANCING SERVICE QUALITY RISK MANAGEMENT ANALYSIS USING GNI PLC SERVICE AS CASE STUDY -RISK IDENTIFICATION-RISK EVALUATION/RISK ANALYSIS-RISK CONTROL/RISK RECOMMENDATION/PRESENTING THE RESULT

COURSE OVERVIEW

1. WHAT IS RISK MANAGEMENT The process whereby organization methodically address

the risk attaching to their activities with the goal of achieving sustained benefit within each activity and across the portfolio of all activities.

Risk management is integral to the development and implementation of corporate strategy, as such it should become part of the culture of the organization.

WHAT IS ENTERPRISE RISK MANAGEMENT Enterprise risk management is the process of

planning,organising, leading and controlling the activities of an organization in order to minimize the effect of risk on an organization’s capital and earnings. Enterprise risk management expand the process to include not just risks associated with accidental losses, but also financial, strategic, operational, and other risks.

WHAT IS SERVICE Service are occupation or function of serving people. It is an activities performed by one person to another that are essentially intangibles and does not result in the ownership of anything. Great Nigeria Insurance plc is a financial institution that provides an array of service to their clients.

WHA IS SERVICE QUALITY GAP service quality gap in insurance matched customer

perception against their expectation of insurance service and influence of service quality attributes on customer satisfaction.

GAP MODEL service quality model also known as the gap model, was develop

in 1985 by Parasunama et al. the gap model highlight the main requirement for delivery a high level of service quality by identifying five gaps that can lead to unsuccessful delivery of service.

Perception gap : The gap between expectation and management

perception. In this gap the management or service provider (Insurance

Company) does not correctly perceived what the customer want or need.

Knowledge gap: It is the difference between what customers expect of a

service and what management perceive that customer expect.

- - -

STANDARD GAP: This is a gap between services delivered by the management and specified in the service delivery. Service personal is characterized by this type of service.

Delivery gap: The different between the quality specification set for

service delivery and the actual quality of service delivered. e.g the use of

word of mouth to market by the marketers but this promise are not being

met in reality.

Communication gap: It is the difference between the actual of service delivered and the quality of service describe in the firms external communication such as brochure and advertisement.

GAP MODEL

DETERMINANT OF SERVICE QUALITY GAP-Reliability -Responsiveness-Assurance -Empathy -Tangibles

METHOD OF ENHANCING SERVICE QUALITY - BENCHMARKING

-INTERNAL PERFORMANCE ANALYSIS -SPECIAL MARKET RESEARCH -PROCEED WITH CAUTION

RISK MANAGEMENT ANALYSIS USING GNI SERVICE AS CASE STUDY

RISK IDETIFICATION This is the first stage in risk management process, This should be approached in a systematic way to ensure

that all significant activities(service) about gni plc have been identified and the risks resulting from them defined.

SOURCES OF INFORMATION IN RISK(service) IDENTIFICATION

EmployeescompetitorcustomersInsurance brokers AgentConsultantsLoss Adjusterslaw and regulation. e.t.c

RISK IDENTIFICATION TECHNIQUES-Discussion-Brainstorming -Organizational chart -Physical inspection-Check list

RISK (service)EVALUATION/ANALYSIS This is the second stage in risk management process. Risk

evaluation or measurement tries to determine the impact on the firm of any risk or loss occurring. This involve the compilation of accurate records of past event to aid decision making. For instance, one possible loss situation have been identified. For instance, once possible loss situations have been identified, it becomes necessary to determine:

A. The number f possible losses each yearB. The possible size of each lossC. The value of assets at risk (maximum possible loss)

RISK CONTROL/RISK RECOMMENDATION/PRESENTING THE RESULT.

This is the final step in the process of risk management. Once the reason for the poor service quality have been identified, the next step is how to handle the risk(service). This can be done through recommendation and presenting to the management.

Courtney Inglis Consulting

THANK YOU!