Technical insurance training to increase your knowledge
Technical Insurance Training & Simulations
Technical insurance training simulations are a fun and collaborative method of learning new skills, and testing your knowledge using ‘real life’ business examples. Teams are presented with a suite of information and then have to work together to make a wide range of decisions over a period of time. We offer three different technical simulation options, all tailored specifically to the insurance industry, offering a really memorable way of learning, and relationship building simultaneously.
Morotania
Morotania is a strategic business simulation involving the management of a new general insurance company. A powerful tool for graduate induction or onboarding activities for new recruits, Morotania is also highly effective for senior-level and non-underwriting participants.
Run face-to-face, or remotely, teams are challenged to make a wide range of business decisions across Product Development, Pricing, Channel Management, Marketing, HR, and Finance. Decision outcomes are compared with those of the other teams as the simulation progresses.
The simulation provides practical experience in financial acumen, planning and decision-making, research and analysis, and teamwork, and introduces reinsurance as a unique discretionary feature.
Success in establishing and managing the insurance company is judged against financial and non-financial performance measures, including Profitability, Market Share, Solvency and Customer Satisfaction.
Underwriting DNA
Underwriting DNA is a world class underwriting simulation and comprehensive business tool enabling participants to gain practical experience in a risk-free virtual insurance world. Originally developed as an element in the underwriting training programme of a leading London market insurer for new and inexperienced underwriters, it has since been adapted for other London market insurance clients.
Run face-to-face or remotely, this simulation is based on a realistic business environment and utilises real-world data, albeit simplified to maximise learning. Participant teams are tasked with underwriting a choice from a set of business classes, including Property, Professional Indemnity, Cyber and Healthcare.
Success is measured against both financial and non-financial performance measures, including the ability to grow the GWP profitably, while remaining within the agreed capacity limits and enhancing the business’s reputation for high levels of customer service. The scope and versatility of the Underwriting Simulation makes it uniquely effective as an experiential learning resource for executive development.
ReAction
ReAction is a world-class strategic simulation designed for reinsurance training. In the simulation participants are introduced to The State of Adversity, a fictional country exposed to a range of risks, where they work on behalf of an insurance company to manage the reinsurance programme.
Participants work as both cedants and reinsurers to place and underwrite reinsurance business. Participants learn and practice the key principles of reinsurance underwriting in an engaging simulated real-life environment, focussing on capacity, profitability, negotiation, and reflection.
Run face-to-face or remotely, this simulation is based on a realistic business environment and utilises real-world data, albeit simplified to maximise learning. Participants will gain knowledge about reinsurance treaty structures, and be able to confidently manage and analyse underwriting and operational information, including historical data, risk profiles, exposures, PML scenarios, claims experience and profitability by line of business. This in turn will lead them to make effective decisions based on information analysis, including the competitive environment and market trends.
Success is measured against both financial and nonfinancial performance measures, including the ability to build a balanced portfolio of risks which provides opportunities for profitable growth throughout the reinsurance cycle.
Fast Start
The complete techincal training courses for new professionals
Fast Start is the only insurance training course combining hands-on learning and self-directed study to teach technical skills to new insurance professionals.
Offices around the world are adopting hybrid working models. For those starting out in their insurance careers, this means less hands-on support from more experienced colleagues (who they’d have previously sat with full-time.).
This way of working means new insurance professionals miss out on vital learning experiences and training that in previous years would have been taken for granted.
New to their careers and to the world of insurance, we know that now, more than ever, these new starters need expert hands-on support. They also need opportunities to learn, collaborate and network with their peers.
Fast Start is a hybrid programme which has been specifically designed with these two critical elements in mind, setting participants up for success at this critical, early stage of their careers.
Techincal training course benefits
- Build your technical insurance skills and knowledge in a risk-free environment
- Connect with like-minded people at the same stage of their career
- Pace your learning over weeks and months, covering what you need to know, when you need to know it
- Regularly connect with professionals who can answer your questions and support your learning
- Build confidence in your role as you undergo a variety of exercises designed to test your knowledge via simulations and team building activities
- Make new friends!
Download Our Fast Start Brochure
What’s involved?
This programme is 44 hours of technical skills training, following a tailored industry syllabus delivered over 12 months. It comprises 20 hours of experiential learning in a virtual classroom, with 18 hours of on-demand study, to complete at your own pace with 6 hours of collaboration workshops.
Our blended learning approach makes the work enjoyable and easy to fit around your existing commitments. No gruelling schedule or difficult tests – just fun, practical activities that help build the foundation of a successful career in insurance.
Programme Outline
Session 1 Welcome Meeting – An introduction to the course and networking
Session 2 Cohort Collabs – An introduction to endorsements and hard & soft markets
Session 3 Cohort Collabs – Reinsurance, Pool RE and Flood RE plus other topical subjects
Session 4 INSURANCE SIMULATION – Part 1 – Run your own insurance company
Session 5 INSURANCE SIMULATION – Part 2 – Complete and analyse your simulation
Session 6 Cohort Collabs – In depth discussion into emerging insurance companies
Session 7 WORDINGS CASE STUDY – Policy wording, contract certainty and real life policy wordings
Session 8 Cohort Collabs – Financial Ombudsman Service, Good Faith and laws on disclosure
Session 9 CLAIMS CASE STUDY – Claims terminology, the claims process, claims settlement and fraud
Session 10 PRICING CASE STUDY – Rating, assessing the risk, choosing limits and premium calculations
Session 11 INSURANCE SIMULATION – Part 1 – An underwriting simulation using real-world data
Session 12 INSURANCE SIMULATION – Part 2 – Review and analyse your simulation
Session 13 VIRTUAL ESCAPE ROOM – Putting it all Together
FAQs
If you have a question that has not been answered below, please feel free to contact us.
FAST START has been designed to support those at the beginning of their insurance careers, either brand new in their first role or within the first few years of their career, moving into a technical role. The programme includes core skills for technical roles across the market to support those in claims, underwriting, broking and technical support functions.
This is a hybrid or blended programme of learning, with online content drip-fed over the 12 months via our online learning platform, monthly workshops for Q&A and progress check-ins, and experiential learning exercises conducted in the virtual classroom.
Absolutely! This programme helps fill the gap in technical skills development, allowing organisations to better support new professionals through the first years of their career.
Join this course
Course starts 12th October 2023
Runs from 12th October 2023 – 12 month programme ending on 8th August 2024
Testimonials
It’s without doubt one of the best training tools I’ve come across for studying. I’m a visual learner and the study material was easy to understand and complimented my research and reading of the learning material, perfectly.
Empower development provides our members with great virtual sessions, accompanied with useful resources, to get individuals thinking about their career progression and the steps they can take personally to achieve what they want.
I left with a much better understanding about creating a brand for myself, how to carry myself in meetings and tough situations and many useful tips on how to engage in meaningful career related conversations
Empower Development are not only knowledgeable in the professional and development field but their knowledge of the insurance market is what really makes them stand out from other training providers.
I used Empower Development’s online revision course before my M92 Business and Finance exam. The website includes videos with many tips and tricks that make the material much easier to digest and remember. Sam and Grace are excellent at making material understandable and summarising the textbooks. The website includes chapter summaries and questions to assist with revision and is great for ensuring you have a full understanding of the module. I would highly recommend to anyone who is sitting their CII exams and needs help bringing the textbook to life. This is exactly what is missing in the CII revision process and very useful to have an app as well.
I passed my M92 MCQ exam on Monday this week which is also thanks to the M92 revision cards I so kindly received from you via your LinkedIn daily Christmas gifts. The cards were fantastic and have really helped me to reinforce the M92 content and get prepared for the exam. Completing the mock exams alone can provide false security as after completing them more than once you may remember the questions and answers. However, in your own words you might not be able to explain certain terms and principles which the revision cards definitely help with. So a big thank you again for helping me to pass this exam.
…I am really happy the way you have designed the course for M05 very helpful and easy to remember, at first I was just thinking of passing the exam but now I will achieve a distinction thanks a lot.
The best part of the M05 resource is visualising the important precedent cases, as we tend to memorise things better with animation and pictures. The videos that summarise all important concepts in short clips really save us time. I recommend this platform to all my friends who plan to study CII
I would like to start by thanking you and the whole team at Empower Development for the On Demand Courses. It was of great help because I am currently located in India and was preparing for the M05 alone. I have successfully completed the M05 module ( both course work and assignment). The on-demand module helped me study at work or while traveling and was of great help and I truly appreciate that.
I found it really beneficial, it was easy to use and great to have the chapter explained in a simplified way, far less daunting than the book and the CII website which can be overwhelming! The posters and quick tests all really helped! You have done a fantastic job and I will be definitely recommending to my colleagues, thank you so much again.