Simulator Gamifies Underwriter Training

The job of an insurance underwriter is complex on many levels and requires a highly skilled workforce.

Underwriters must possess a combination of actuarial, risk management and people skills to assess complicated policies or claims in a highly collaborative and customer-centric environment.

Given that underwriting decisions involve huge cost implications, training on the job is not a viable option; these professionals must gain their experience somehow in a safe training environment, where mistakes don’t have real-world financial consequences.

Adding to the challenge are the significant technical skills needed to work with smart systems that aid in the underwriting process, and a tight talent pool generally in financial services for highly skilled employees.

These combined pressures have put the lens on workforce training as a way to quickly onboard and close knowledge gaps for highly skilled employees, while keeping them engaged and invested in the job to minimize turnover.