Together with Homesite Insurance, we developed a customized simulation to train leadership skills. Homesite Insurance is a leading insurance provider in the USA and has been a pioneer since 1997, as they were one of the first companies to enable its customers to purchase home insurance directly online. We have summarized the most important points of our cooperation for you.
The challenges for the insurer
Homesite is facing two challenges at once: keeping its identity of innovation and trailblazing while integrating into a much larger organization – all while trying to get ready to face the disruptions and challenges that the changing market environment and shifting consumer behaviour is bringing. To achieve this, Homesite developed a new competency framework with 5 key pillars and 19 competencies that will be fundamental to equip their leadership and key talent for the road ahead. Key skills such as dealing with complexity, putting oneself in the customer’s perspective or target-oriented decision making are to be taught to management personnel and promising key talents with the help of TOPSIM’s management simulation. In the training, the participants had to develop their own strategic ideas and implement them successfully.
Our solution: TOPSIM – Management Simulation
In the management simulation, 10 teams competed in 2 mirrored marketplaces over 4 rounds. Instead of the usual format of group discussions and key notes, we recommended taking the 100 participants on a journey in which they would experience and face the changes and disruptions of the future of their industry first hand. Through observation exercises, they made the link between behaviours and competencies, spotted key strengths, areas of development and set concrete action items for themselves moving forward.
How does the special training concept work? The training for Homesite Insurance is based on the wargaming approach and is conducted as a dynamic case study. At the beginning of the simulation, the participants in the market find themselves in different starting situations and must ask themselves the following questions:
- Do we belong to the big global players or are we a small company with a limited market share?
- How do we therefore position our company in the market?
In the course of the simulation, the participants develop their own corporate strategy and implement it using concrete measures. As part of a strategic bidding excercise, for example, they decide on acquisitions and investments in technical innovations.
The value for the client
This competitive, action-oriented, hands-on learning approach provided an ideal environment for observation and practice, reflection and the setting of action items for individuals, teams and the organization as a whole. The participants of the training were able to develop an awareness of the importance of core competencies and gained a better understanding of the development needs of the organisation.
We thank Homesite Insurance for the successful cooperation and look forward to further projects.