Insurance Industry Training
At MDA Training, we specialise in commercial skills, professional skills, and experiential risk and business simulations for the insurance industry. Our tailored learning solutions are designed to break through the complexity of insurance roles, processes and reporting, to help your people make the link between behaviours and performance, whatever their place in your insurance business.
We have extensive expertise in early careers inductions and new hire onboarding, as well as management and leadership development. We also work across the insurance industry including general insurers, specialty insurers, brokers, Lloyd’s syndicates, MGAs and reinsurers.
Commercial And Professional Skills Workshops For The Insurance Industry
Commercial Skills In Insurance
Commercial Skills In Insurance
Our Commercial Skills Pathway builds the confidence and capabilities of your people around key commercial, financial and business skills. Structured around key themes, workshops help your people better understand the context of the roles, functions, products and solutions that an insurance business offers. Learners come away with a practical understanding of how your insurance business makes money, and how they can contribute to driving performance in their roles whatever they may be.
Our pathway provides a practical learning experience designed to enhance insurance industry knowledge and expertise, and offers a great solution for early careers development, new and lateral hires, or as part of a Continuing Professional Development curriculum.
Practical Portfolio Management
Practical Portfolio Management
Bigger issues and different concerns arise when underwriters move from looking at individual risks to coordinating the performance of a portfolio of business. In managing portfolios, the challenge is to look at the performance of the book as a whole, beyond individual losses arising from a single policy. The skill is to identify patterns and trends that drive the portfolio’s performance, and take appropriate tactical or strategic actions that lead to a clearly defined plan that shapes the portfolio as a whole.
Our practical portfolio management workshops involve an end-to-end process that analyses and transforms the performance of a portfolio, from initial market investigation, determining risk appetite and strategic ambition, through to the actions taken by underwriters to determine what business to write, what business to renew, and on what terms.
Professional Skills Training For Insurance
Professional Skills Training For Insurance
In a complex sector based on relationships, but also facing disruption and change, the importance of professional skills such as emotional intelligence, resilience and critical thinking has never been more valuable.
Our professional skills workshops, designed for the insurance industry, and tailored specifically to the needs of your people, develop practical skills, insights and tools to help your people grow. From relationship management to time management, and coaching to negotiation – we have the industry insights and leadership expertise to help.
Early Careers Programmes For The Insurance Industry
We are experts in designing and delivering highly engaging and experiential early careers inductions and new joiner onboarding programmes for the insurance industry. Our programmes blend a mix of industry, commercial and interpersonal skills to ensure your new hires gain the knowledge, insights and confidence to contribute in the earliest stages of their careers.
In close partnership with you, we design and deliver programmes set in the commercial and cultural context of your business, aligned to your developmental priorities. Drawing on our unique portfolio of experiential workshops, simulations and activities, we create learner-centred training solutions that new hires engage and connect with.
Our expertise includes tailored programmes for school leavers, apprentices, interns and graduates, as well as programmes designed specifically for work experience and community initiatives.
Risk And Insurance Business Simulations
Our insurance simulations bring the unique world of insurance to life. They provide an immersive, fun and insightful way for your people, whether early careers, specialist teams, or senior managers, to explore and experience the strategic, operational and commercial challenges involved. In our simulations there are no pre-set outcomes, and no computers to beat. Instead, learners work together to manage risk and nurture relationships, adapting to regulatory and financial changes that mirror the challenges of a real insurance business. Learners gain invaluable insights into risk management, industry dynamics, key functions and processes in an insurance business, and how an insurance business makes money!
We can tailor our insurance simulations to align with your organisational values and culture, strategic goals and imperatives, commercial context, and performance KPIs. Our portfolio includes a variety of insurance simulations for specialty insurance, general insurance, brokers and reinsurance.
Training for New And Experienced Hires
For those new to the insurance industry, our Commercial Skills Pathway I offers an insightful introduction to the insurance industry and an essential mix of commercial concepts and principles. Our Pathway follows a structured series of modules designed to build confidence around insurance products and language, the roles and functions in insurance, and the solutions that an insurance company provide. Our Commercial Skills Pathway can be tailored to your business needs in terms of content, delivery format and duration.
- Understanding, identifying, measuring, and managing insurable risk
- Recording and reporting risk in an insurance business
- Quantifying the impact of insurable risk as an insurer
- Analysing risk and performance in an insurance business
- Modelling performance and value added as an insurer
- Exploring insurance from a Broker’s perspective
- The impact of a proactive claims process on insurance business results
- Quantifying and pricing the risk inherent in an insurance contract
- Reinsuring the impact of risk on an insurance business
Designed for experienced/lateral hires who are more familiar with insurance, our Commercial Skills Pathway II follows a similar structure to Pathway I, but in a shorter, more condensed format building on participants’ existing experience. Where necessary, we can tailor the content to ensure it addresses any specific technical or commercial skills gap. For example, it may be that your hires all have a strong GI background, but are new to Lloyd’s or the London Market. Or that the modules needs to have a strong focus on cover holders, reinsurance or brokers. We will simply shape our content to meet your developmental needs and your business context.
Military veterans bring transferable skills, work ethic, and values that can hugely benefit the talent pool in any insurance business and the wider insurance market. Our approach focuses on the commercial, technical and interpersonal skills that your ex-Military personnel will need at the start of their new careers. The underlying theme of this programme is one of context – what your insurance business does, how it does it, and what is expected of a new joiner within the dynamic marketplace in which your business operates.
The ambition of the programme is to align the skills and values of your ex-Military hires into the language and framework of your insurance business, providing the grounding, framework and insights for them to begin to build their own journey into a second career. The focus is on the technical and office-based skills necessary to have an immediate impact in their new world of insurance.
Non Executive Directors (NEDs) play a key role in the corporate world. However, the insurance industry is unique and those new to the industry, or unfamiliar with specific markets, products, or language may require further insight. Our focused workshops will help your NEDs make a stronger contribution to your business by growing their confidence and understanding around the commercial concepts and principles in your business and the wider industry. Our structured approach comprises two possible routes, Commercial Insights and Commercial Acumen, are both carefully designed to build on the experience of your NEDs.
Effective Risk Management Training
At its heart, the insurance industry is all about risk. And risk presents both opportunity and danger by its very nature. Different products, channels, regulations and market events all play their part in the complex risk frameworks that define the insurance industry. Centred on experiential learning, our workshops bring risk management to life through engaging and insightful risk activities designed to help learners understand risk and apply straightforward processes for the management of risk in an insurance business.
Leadership Development In Insurance
In a fast moving and ever-changing insurance market, people need to lead their business in a commercially-focused way, taking the initiative and making the most of opportunities while maintaining proper control over risk. Our ‘Leading an Insurance Business Simulation’ enables leaders to practice their leadership skills and insurance business knowledge in an applied context – running a simulated insurance company.
The simulation gives leaders a real-time opportunity to practice and focus on key leadership and business skills, attitudes and behaviours they need to adopt to drive commercial success. Through the simulation, teams manage the complexities of strategy, financial performance, risk solutions, resourcing, and stakeholder management, all set in dynamic evolving market and a changing competitive landscape.
A powerful learning experience for leadership development, our simulation-based programme provides leaders with a practical insurance setting to experiment with and internalise new ideas, a safe environment in which to challenge their thinking, and confidence to utilise new skills and capabilities in the workplace.
A Name You Can Trust For Insurance Industry Training
