Chicago, IL (PRWEB) October 28, 2011
PriSim Business War Games, a premier business training firm, announced the launch of its new board-based insurance financials simulation, The Insurance Financials Board Game™, to build financial acumen in the insurance industry. The simulation is an extension of PriSim’s existing insurance business simulations and business training courses.
The Insurance Financials Board Game is a customized business simulation that utilizes a playing-board, game pieces, and several business scenarios to develop the financial acumen of managers and high-potential staff in the insurance industry. It is intended to be an add-on to one of PriSim’s computerized insurance-industry simulations such as the Insurance Challenge or Agency Challenge simulations.
The exercise consists of several scenarios that students play-out in teams. In each scenario, teams plot the flow of money on a playing-board representing an Income Statement and a Balance Sheet using poker-chips to represent money.
The following scenarios are currently available in The Insurance Financials Board Game, and additional scenarios can be customized and added as needed:
- Selling an insurance policy and the impact on Written Premiums, Earned Premiums, Net Income, Assets and Liabilities, and Cash Flow.
- Paying out Losses after settlement beyond the Policy Year and the impact on Assets and Reserves.
- The impact of under-reserving on Net Income and Cash-Flow.
- Building a new Operations Center and the potential impact on Fixed Assets, Depreciation, and Net Income.
- Capitalizing a new business and the potential impacts on Assets, Liabilities, and Equity and the Income Statement impacts of new Revenue and Expenses.
The Insurance Financials Board Game is an ideal complement to PriSim’s insurance-industry simulations, and can also be adapted and modified to fit PriSim’s other industry-specific business simulations:
- BizFighter – Aerospace and Defense industry.
- Mini-MBA – Manufacturing industry.
- Cycloan – Mortgage industry.
- DealerSim – Dealership-centric industries such as heavy-equipment, automotive, retail, etc.
The Insurance Financials Board Game is the latest business-training tool from PriSim that builds upon the success of the company’s simulation and scenario-planning tools. These tools are of great value when focused, intensive education on business acumen or on specific business skills is required.
PriSim Business War Games' business simulations and courses provide managers across all industries with a practice-ground where new ideas can be tested and where strategies can be practiced in a “what-if” environment. With the roll-out of The Insurance Financials Board Game, PriSim has further expanded its course-delivery reach as it continues to produce unique, simulation based business training courses for leading organizations worldwide. The Insurance Financials Board Game complements PriSim’s many existing courses and positions PriSim as the premier partner for companies that have a goal of developing business and financial acumen. At PriSim, we make learning real™.
ABOUT PRISIM BUSINESS WAR GAMES INC:
PriSim Business War Games Inc. works closely with leading organizations to build and deliver customized business simulations. PriSim assists clients in utilizing these custom tools to develop their employees' business acumen. 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. Industry-specific simulations include insurance carrier, insurance agency and brokerage, insurance branch, mortgage banking, aerospace and defense, dealership, publishing, e-commerce, and manufacturing. PriSim helps clients make better business decisions while helping them to "See things differently, think differently™".