Participants will work in small teams to devise and execute strategies for a monoline motor vehicle insurer in direct competition with companies managed by the other participants. Peers around the world report that this develops a rich understanding of the drivers of insurance performance and brings participants' technical skills to life
Participants will manage their companies through three simulated years of decision making using a web-based simulation that has proven effective for learners from over 70 countries around the world but which FSAA is making available in Australia. The annual decision cycles allow time for practice and experimentation. The decisions taken by participants will allow an insurance cycle to become manifest.
Participants will receive feedback on the quality of their analysis and decision-making on an 'annual' basis and revise their strategies in response to how they are performing. One-click forecasts of how their technical and strategic decisions might perform help participants refine their thinking, as do a full P&L, balance sheet and suite of key performance indicators.
In the buzz of competition, participants experience joy, surprise and many other elements that cement learning, while having fun and forging new relationships with peers and other FSAA Members.