Re-Designed our What-If Tool for the Insurance Industry that demonstrates the impact that an insurance company’s underwriting. claims, and other operations have on business results, including Gross Written Premiums and Combined Ratio.
Hosted an Open-House at PriSim’s Downtown Chicago Office getting attendees hands-on with insurance-industry simulations including Board Games, What-If Tools, and Business War Games and discussed best practices in experiential learning.
Presented at the Society of Insurance Trainers and Educators (SITE) Conference in San Antonio in a Learning Lab titled Learning with Insurance Simulations – Putting the Fun Back in Business and Financial Acumen!
Created a New Board Game Add-on to Model the Flow of Money in an Aerospace and Defense Company through the Income Statement and Balance Sheet. Read more here… and see what happens to the financials and to Earned Value Management (EVM) metrics when you sell a wire-guided missile! We’ll also be demoing the board game during our Open House in Chicago on August 10 – let us know if you can attend!
Congratulations to the Winning Team of the CIAB’s Broker Smackdown West Regional Competition! The cross-agency team of Acrisure LLC, Allied Insurance Brokers, and IOA Insurance Services won the competition and will head to the National event at the Broadmoor in Colorado Springs.
Finalized the 5th Annual MEMPC PriSim Business War Games Competition. Kudos to Dartmouth and Northwestern for their first-place ties running competing manufacturing companies. Read more about it on the competition Facebook page, on PriSim’s website here, and in Duke University’s blog.
Completed the first PriSim Agency Management Competition, an initiative of InVEST. And the winner is…Olivet College! The school’s team ran a simulated insurance agency in competition with teams from Appalachian State, Eastern Kentucky, Illinois State, Georgia State, and Florida State. See more on the competition Facebook page and on our website here.
Updated PriSim’s Test Drive Equipment Dealership Business Simulation with a New Look and Feel for 2017, including a new banner screen that improves navigation by utilizing “flat” design elements.
Ran a “War Room” Competition for the CIAB in Washington D.C. for 150+ Insurance Agents and Brokers at the CIAB’s Legislative Summit. Teams in 3 “industries” competed in a mini-version of the Broker Smackdown course. The Summit featured several notable speakers including John Thune, Heidi Heitkamp, and Lyndsey Graham.
Sponsoring the 5th Annual MEMPC PriSim Business War Games Competition, a five-week, online business competition. Teams from Northwestern, Cornell, Dartmouth, Duke, USC, and Purdue will run an automotive business simulation, competing for market share and profit.
Kicking off the first PriSim Agency Management Competition. During the month-long online event, teams from 8 top colleges with insurance programs will compete in a business simulation where they will function as the management team running an insurance agency. The event is an initiative of InVEST, a school-to-work insurance program that works with high school and college educators to create insurance curriculum for their students. The schools include: Appalachian State, Eastern Kentucky, Illinois State, Georgia State, Olivet College, and Florida State.
Conducted a Professional Dealer Education Session at the Associated Equipment Distributor’s AED Summit Event, titled A Financial Perspective on Dealership Operations. The session featured PriSim’s heavy equipment finance board game to help bring the financial statements to life and immerse attendees in the actual details of several dealership transactions. Participants left with a better understanding of how the financials reflect the performance of their dealership.
PriSim Conducts the First National Broker Smackdown for the CIAB. Winners from the previous 4 regional competitions met at the Broadmoor Hotel in Colorado Springs to battle for “Best In The World” status. More to follow when the results are made public…!
Seats Still Available for PriSim’s Online Test Drive Class November 9-15, 2016. The course is run completely online without ever leaving the comfort of your own dealership! All for only $2,500 per team of 4 participants. Read more here.
Added as Clients The World’s Fourth Largest Confectionery Company, running PriSim’s Mini-MBA business acumen development course for supply-chain managers, and the Ninth-Largest U.S. Property and Casualty Insurer, running PriSim’s Insurance Challenge course for emerging leaders within the company.
Conducted a Virtual Competition using PriSim’s Test Drive Heavy Equipment Dealership Business Simulation Course Online. Ran the simulation on virtual servers, and used on-demand video lectures and live online team-coaching. Results from teams within the simulation included an 86% increase in Customer Satisfaction, 4X Growth Rate, and a high Net Margin of 5.89%
Modifying Our Insurance Challenge Simulation to Include Solvency II and Risk-Based Capital (RBC) Metrics so that participants can see the impact of their decisions on financial risk, their capacity to underwrite more business, and their overall performance. Read more about Solvency and RBC metrics here.
Conducted PriSim’s First Course to the No. 1 Power Tool Brand in Australia, the U.S., and Canada in electric drills, screwdrivers, saws, and other power tools.
Updated and Enhanced PriSim’s Data-Driven Team-Scoring Sheet used at the end of our classes to calculate the winning team(s) in the competition.
Holding the 6th Annual PriSim Tailgate BBQ at Northwestern University, co-sponsored by the Master of Engineering Management Program (MEM). For details and to register for the event, click here.
PriSim Featured in a Rough Notes Magazine Article describing the CIAB’s three-day “Broker Smackdown” competition for emerging leaders with less than five years of leadership experience. Read more in Rough Notes here.
Updated the World-Famous PriSim Class Timer with new functionality including the ability to add your own company logo and one of your photos as the background. Give it a try by downloading it here.
Launched a New Employee Benefits Insurance Simulation designed in conjunction with the CIAB and several insurance agencies and brokerages. The product is a more service-intensive business simulation based off our current Agency/Brokerage Challenge simulation.
Wrapped up the 4th Annual MEMPC PriSim Business War Games Competition. Congratulations to Duke for first-place in Industry 1 and to Stanford and Northwestern for the first-place tie in Industry 2. Read more about it from some of the participating schools: Dartmouth, Stanford, Duke, and Northwestern; and take a look at some of the learnings that students took from the experience.
Produced Two Videos Based on Exercises We Run During PriSim’s Classes. Take a look at the videos on YouTube – the MOST strategic planning framework here and a Moments of Truth example and exercise here.
Running an Insurance Agency Leadership Program in Conjunction with MarshBerry, in a live, 2-day event. Working within a team of other future leaders, participants will manage a simulated Insurance Agency, making the strategic and tactical decisions that agency principals make each day.
Delivering a Business Law Business Simulation and Class on February 27 for Northwestern University students and alumni. In this 3-hour workshop, students will gain a foundation in business law specifically for managers of technology.
Sponsoring the 4th Annual MEMPC PriSim Business War Games Competition, a five-week, online business competition. Teams from Northwestern, Cornell, Dartmouth, Duke, USC, MIT, and Stanford will run an automotive business simulation, competing for market share and profit.
Began 12th Year of Teaching IEMS-402 Class at Northwestern University, the required gateway class to the Master of Engineering Management Program (MEM). Read more here…
Taught PriSim’s First Course in Milan, Italy for Harley-Davidson’s Dealership Operations group.
Ran PriSim’s Test Drive Dealership Simulation Course Entirely Online, utilizing virtual servers, on-demand video lectures, and online team-coaching.
Developing a Business Law Simulation and Class for Northwestern University to be run in the Fall of 2016.
Conducted PriSim’s Agency Challenge Course at the CIAB’s “Broker Smackdown” Kickoff to a 3-part competition in 2016 leading to a National Championship event at the CIAB (Council of Insurance Agents and Brokers). Read more here…
Held the 5th Annual PriSim Tailgate BBQ at Northwestern University, co-sponsored by the Master of Engineering Management Program (MEM). Read more here…
Improved the Security of PriSim’s Simulations when running in the cloud.
Began Working With a Major Global Aerospace and Defense Contractor, to run PriSim’s BizFighter business simulation for leaders within the company.
Judged Student Presentations at the Future Business Leaders of America Leadership Conference. The FBLA is a nonprofit education association with a quarter million students preparing for careers in business and business-related fields. Visit their website to learn more.
Taught International Courses in 7 Different Countries including PriSim’s first class in Russia and second class in India.
Producing Online Videos of Our Industry-Specific Boardgames, which PriSim runs as add-ons to our classes to highlight specific financial concepts. Watch a video of our equipment dealership finance boardgame here.
Updating All of PriSim’s Business Simulations with “Flat” Design Elements. See an example of our updated Insurance Challenge business simulation here.
Winners of the 3rd Annual MEMPC PriSim Business War Games Competition Announced. The four-week, online competition fostered strategic management skills in future MEM graduates.
Sponsoring the 3rd Annual MEMPC PriSim Business War Games Competition again, a four-week, online business competition. Cross-university teams from Northwestern, Cornell, Dartmouth, Duke, USC, MIT, and Stanford will run a business simulation of an auto manufacturer, competing for market share and profit.
Moved into New Office Space on Route 66 in downtown Chicago.
Launched a What-If Tool for the Insurance Industry to demonstrate the impact that an insurance company’s claims service approach can have on business results, including Gross Written Premiums and Combined Ratio.
Created a New Boardgame Add-on to Model the Flow of Money in a Manufacturing Company through the Income Statement and Balance Sheet. Read more about our boardgames here…
Expanded PriSim’s Operations to New Office Space in downtown Chicago.
Hosted PriSim’s 4th Annual Tailgate Party at Northwestern University before the Wildcats football game on September 20. Click here to read more…
Administered a Live Course Entirely Through the Cloud at a client’s Japan location.
Rolled Out Client-Run, Licensed PriSim Courses for a leading U.S. insurance company. Client-staff were trained by PriSim to conduct courses using PriSim’s simulation and methodology. This is the third rollout of client-led courses, with the first in the aerospace and defense industry and the second in the insurance-agency business.
Signed Max Hernandez, an Experienced Developer, Lecturer, and Business Consultant, as Vice President. Max will contribute to simulation development at the firm and will help deliver training classes worldwide. He is fluent in both English and Spanish and will increase PriSim’s ability to localize its learning laboratories. Mr. Hernandez will also help advance PriSim’s social media efforts. Click here to read the press release.
Sponsored This Year’s MEMPC PriSim Business War Games Competition again, a four-week, online business competition. Cross-university teams from Northwestern, Cornell, Dartmouth, Duke, USC, MIT, and Stanford ran a business simulation of an auto manufacturer, competing for market share and profit. Click here to read more.
Wrote a Featured Article in Training Magazine’s Online Magazine about converting the potential energy of emerging leaders as they transition from management into leadership roles. Click here to read more.
PriSim Will be Speaking About Customer Lifetime Value at the 2013 Associated Equipment Distributors’ Leadership Academy at the Disney Institute in Orlando, FL. Sign up for the event here!
Published an Article in the November 2013 Edition of Construction Equipment Distribution on the concept of “Biznertia”; that companies that ignore changes in their market (aka: stay are rest), or those that continue with old strategies (aka: stay in constant motion), put their futures at stake and risk becoming irrelevant. Click here to read more.
Enrollments Now Being Taken for our only Open Enrollment course of the year, happening this October 1-2 in Oak Brook, IL. We’ll be running our Test Drive business simulation in partnership with the Associated Equipment Distributors. Read all about it here and sign up for the class!
Developing a Board of Advisors of University professors, industry experts, technology gurus, and Instructional Designers. The Advisory Board will provide cutting-edge input to PriSim as we develop new courses and simulations and modify our existing ones.
Hosted PriSim’s 3rd Annual Tailgate Party at Northwestern University before the Wildcats football game on September 21. Over 190 students, alumni, and faculty attended and consumed 160 burgers, 60 hot dogs, 2 large mustards, a few carrots, and a keg of Miller Lite.
Testing Virtual Desktops and The Cloud – virtual-desktop technology to run our simulations, and the cloud to reduce hardware and software requirements onsite at our courses.
Net Present Value, Break-Even, and Internal Rate of Return Tool. We did a lot of NPV analyses in our previous lives. So we’ve put together a handy spreadsheet-gadget that will help you determine if your investment projects make economic sense.
Click here to check out a beta-version
Re-designed PriSim Course Introductions to better fit the “app generation” that increasingly makes up the participants in our classes. We have sped-up the time it takes to get participants into the simulation and the competition.
Sponsored the first MEMPC’s PriSim Business War Games Competition a four-week, online business competition. Cross-university teams from Northwestern, Cornell, Dartmouth, Duke, USC, MIT, and Stanford ran a business simulation of an auto manufacturer, competing for market share and profit. Click here to read more.
Customizing a Business Simulation that Models Exclusive Agencies for one of our clients, a national insurance carrier.
Utilizing the Dropbox Application as an online “transfer-drive” for file-sharing and processing simulation decisions and results during our courses.
Developed a Customer Lifetime Value Calculator, a handy calculation-gadget to help you estimate the value of your customer relationships. Turns out that not all customers are created equal.
Click here to check out a beta-version
Developing Online Pre-work Modules to augment our course kickoffs and better prepare our students for our class-content.
Distributed Class Conducted over a 4-week period between cross-university teams from Northwestern, Cornell, Dartmouth, Duke, MIT, and Stanford. The entire event was run virtually and online including the kickoff webinar, the business simulation and competition itself, and the debrief and awards.
Running classes virtually, or at least portions of them, is a growing trend at our clients. And we’ve begun to incorporate more virtual elements into our classes including pre-recorded webcasts and videos, live webinars, and even offline competition-rounds. More on this from PriSim soon…