Chicago, IL (PRWEB) November 09, 2004
PriSim Business War Games Inc., a premier business simulation and training firm, announced that the company has expanded the release of its insurance-industry business-training software, titled Insurance Challenge(TM). Insurance Challenge is a business simulation designed specifically for the insurance industry to develop mid- to senior-management's strategic, financial, and general business acumen. The software models the operations of a working, growing insurance carrier and agency business network and allows course attendees to run their simulated company as "CEO for the Day".
During the course, attendees manage a virtual insurance company in competition with other teams in the course. Through this intensive, hands-on process attendees learn:
- A "Total Insurance Perspective" on decision-making that includes dynamics of both carrier and agency businesses.
- The application of proven business and management concepts to insurance company operations.
- How to think strategically.
- How to analyze complex business issues.
- How to use sound judgment in decision-making.
- The importance of the lifetime-value of customers and customer-segments.
- How to read and interpret financial reports (Income Statement, Balance Sheet, Cash Flow Statement).
- How decisions in each functional area of a business impact the carrier and agency businesses (integrated decision-making).
- How to measure success using financial & operational ratios.
- How to establish effective group decision-making roles and processes.
The Insurance Challenge exercise was developed for a leading property and casualty insurance carrier and their agency business training program. Over a period of several simulated years in the 2-3 day course, teams are challenged to manage a struggling insurance carrier and agency network and compete for customers and qualified employees (producers, underwriters, support staff). Insurance Challenge is also highly customizable to other insurance companys' business models.
The Assistant Vice President of the insurance companys' global university said of the Insurance Challenge simulation, "Working with the PriSim organization enabled our university to build seamless alliances both within and outside our organization. Their approach to building the Insurance Challenge simulation tapped into subject matter experts and resources within our company at some of the highest levels of management. They worked closely with our agency network, our strategic partners, in reaching the end user of our product - the insured. The design team's intelligence, keen listening skills, and outstanding consulting expertise brought them great credibility in our organization. The end product, Insurance Challenge, is a resounding success as a learning tool, eliciting rave reviews from participants. We have found PriSim to be flexible and willing to continue enhancing the Insurance Challenge product each time it's offered. If you're looking for an organization to partner with in building a simulation for your industry, I can heartily recommend PriSim Business War Games! They'll provide a superb product -- and they'll make it easy for you!"
PriSim Business War Games' Insurance Challenge software provides managers in the insurance industry a practice-ground where new ideas can be tested and where strategies can be practiced in a "what if" environment. With Insurance Challenge, PriSim has further expanded its presence in the insurance industry as it continues to deliver unique, computer-simulation based business training solutions to leading organizations worldwide.
ABOUT PRISIM BUSINESS WAR GAMES INC:
PriSim Business War Games Inc. works closely with leading organizations to create and deliver customized business simulations. PriSim assists clients in utilizing these custom tools to develop the effectiveness of their one key resource: the knowledge capital of their employees. The tools PriSim develops are specific in that each client's unique operational dynamics are replicated in a business simulation or system-dynamics model. PriSim develops tools and materials that help clients communicate more effectively, proactively explore strategic alternatives, involve multiple levels of management in business development, and share a common model and language of business and finance. PriSim helps clients make better business decisions while helping them "See things differently, think differently".
PriSim Business War Games Inc.
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