Morotania
Insurance Simulation
Welcome to the fictional island of Morotania
The Morotania simulation is a strategic business simulation involving the management of a general insurance company. It can be run over one or two days, or alternatively remotely across shorter sessions, with participants divided into teams, each team representing a newly formed insurance underwriter in a fictional country.
The teams are challenged to make a wide range of business decisions across Product Development. Pricing, Channel Management, Marketing, HR and Finance. Decision outcomes are compared with those of the other teams as the simulation progresses. Success in establishing and managing the insurance company is judged against both financial and non-financial performance measures, including Profitability, Market Share, Solvency and Customer Satisfaction.
The simulation is a powerful tool for graduate induction / on-boarding activities for new recruits, but it has also been widely used with more senior level and non-underwriting participants. The simulation is highly flexible, with the tutor able to switch business classes and decisions on and off depending on the required learning outcomes.
Learning Outcomes
This simulation provides an effective, hands-on and immersive training experience.
By the end of the workshop, attendees will be able to:
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communicate in the language of insurance and reinsurance
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apply the key drivers of underwriting profitability in your day-to-day decision making
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analyse business performance using insurance KPIs
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explain the importance of reinsurance to a growing insurance company
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describe the roles of cedant, broker and reinsurer in the reinsurance process.
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The Training Experience
The simulation is flexible and provides practical experience across the following skill areas:
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Financial Acumen - bringing to life financial performance measures such as Combined Operating Ratio, GWPI, Expense ratio, ROCE and Underwriting Capacity.
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Planning and Decision Making - participants have to work together in teams to plan and manage the organisation in a challenging and developing competitive environment.
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Research and Analysis - participants analyse their own business data and that of their competitors, research the economic and competitive environment of the industry and explore alternative strategies.
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Teamwork - teams work together to determine their strategy, explore alternative scenarios, and analyse their results. A lot of the learning effectiveness comes from this intra-team dynamic.
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Reinsurance - a unique discretionary feature of the simulation is reinsurance, with limited capital, reinsurance enables premium growth without breaching capacity limits.
