Technical Insurance Training

Technical insurance training to increase your knowledge

Technical 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.

morotania

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.

underwriting dna

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.

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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.

fast start course

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

fast start course

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 9th May 2024

Runs from 9th May 2024 – 12 month programme ending on 3rd April 2025

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