Source: The Economic Times

Reliance Life Insurance Company (RLIC), a part of Reliance Capital Limited, on Wednesday announced that it has received the D L Shah National Award on Economics of Quality from Quality Council of India (QCI) for the lean six-sigma project reduction in branch operating expenses. Malay Ghosh, President and Executive Director, Reliance Life Insurance announced this. Commenting on the achievement, Ghosh said, '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.'' 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 organization in the process.