Insurance Challenge™ – The Insurance Carrier Business Simulation!

A Management and Leadership Development Course for the Insurance Industry

Ready to run an insurance company AND a brokerage network?

Does your insurance management team need to be more strategic, financially aware, customer focused, and business savvy?

Teams in the Insurance Challenge class need to do ALL of it well to win the competition!

As they lead and manage their carrier, competing teams will define their target markets, innovate and manage insurance products, set rates, define coverages, optimize commissions, select reinsurance approaches, manage claims, and implement an investment approach.

But great products and great underwriting are only part of the puzzle of running an insurance company – teams will also need to develop an excellent distribution channel to actually get their products sold.

At their brokerages, teams will focus on generating sales – but it better be profitable sales! Hiring Producers, setting commissions on new and renew business, business development, sourcing leads, and training are key to success. All in consideration and in alignment with the goals of their business partner… the carrier.

The Insurance Challenge course can be run as a live or virtual class over 2-4 days.

Insurance Challenge Dashboard PriSim’s Insurance Carrier Simulation Dashboard

  • Product Development and Management: rates, coverages, service levels, marketing, and new products
  • Customer Analysis: customer sensitivities and growth rates
  • Underwriting: underwriting activities, agency commissions/GSC, and reinsurance
  • Corporate Support: competency development and investment strategy
  • Broker Production and Sales: advertising, commissions, and lead sourcing
  • Financial Statement Analysis: revenue, expenses, profit, assets, liabilities, and equity
  • Financial Ratio Analysis: combined ratio, loss ratio, expense ratio, return on sales, return on assets, and return on equity

Sim Tip Videos Short videos highlighting specific dynamics within Insurance Challenge

“This program helped me to better understand how my company is measured financially as well as how certain decisions can impact the bottom line. This program also helped me realize the difficult decisions that executives need to make given they do not exactly know what competitors will do, how the economy will do, etc. This program was a motivating, fun, and interesting way to learn about business finance. It totally captured my attention and focus.”
– Director, National Semiconductor University