2020 Selective Agency Management Competition
The 2020 Selective Agency Management Competition Kicks Off!
The third PriSim Agency Management Competition kicks off January 30, 2020. During the five-week, online competition, teams from 7 top colleges with insurance programs will compete in a business simulation where they will function as the management team running an insurance agency. The schools are: Appalachian State, Middle Tennessee, Howard University, Illinois State, University of North Carolina at Charlotte, Indiana State, and Temple University.
Read all about it in the Insurance Journal!
The competition is a joint initiative of Selective Insurance and InVEST. InVEST is a school-to-work insurance program that works with high school and college educators to create insurance curriculum for their students. A 501(c)(3) non-profit arm of the Independent Insurance Agents & Brokers of America, Inc., InVEST is dedicated to improving insurance literacy in students and attracting new talent to the industry.
“The competition will get students interested in insurance careers educated about the terminology and dynamics of the industry,” said David Semb, a partner at PriSim Business War Games Inc. and an adjunct professor in the MEM program at Northwestern University. “Teams from each college will compete in a head-to-head battle for market share and profit. They’ll work on their insurance business acumen and they’ll get a super-immersive experience of what it’s like to run an insurance agency. We’ll be running our Agency Challenge computerized business simulation. Let the games begin!”
Strategic thinking is critical to the decisions made in the competition. Students will conduct an analysis of the business environment and then articulate the mission of their company. Each firm will begin the simulation at the same point, on a level playing field, and then will decide how to improve their performance and whether they want to design and develop products to enter new market segments.
The Competition begins Jan. 30 and wraps-up on Feb. 27, 2020 when PriSim, Selective, and InVEST will score the competition and announce the winners!
Follow the competition and round-by-round results on our LinkedIn Group page at: https://www.linkedin.com/groups/12186958/
And to see what the students are working on each week behind the scenes, see the Competition Web Portal here: https://www.prisim.com/about/competitions/prisim-agency-management-competition/portal/