Seminar
|
| Activity |
Hours Required |
|
| 1.
| Product Development Concepts
| 1
|
| 2.
| Pricing and Profitability
| 1
|
| 3.
| Decision Round 1
| 1.5
|
|
| a. Price Whole Life
|
| 4.
| Accounting Systems
| 1
|
| 5.
| Round 1 Results
| 1
|
| 6.
| Decision Round 2
|
|
|
| a. Reprice Whole Life
| 1.5
|
|
| b. Price Term
|
|
| 7.
| Assets
| .75
|
| 8.
| Company Specific Topic I
| 1.5
|
| 9.
| Round 2 Results
| .75
|
| 10.
| Decision Round 3
|
|
|
| a. Reprice Term
| 1.5
|
|
| b. Price Universal Life
|
|
| 11.
| Company Specific Topic II
| 1.5
|
| 12.
| Round 3 Results
| 1
|
| 13.
| Decision Round 4
|
|
|
| a. Introduce risk reinsurance
| 1
|
|
| b. Introduce non-med underwriting
|
|
| 14.
| Company Specific Topic III
| 2
|
| 15.
| Open Forum Discussion
| 2
|
| 16.
| Round 4 Results and Wrap-up
| .5
|
|
Sessions 8, 11, 14, and 15 are not required to play the simulation but are needed to allow time to process the results. Depending on the client’s particular needs and the time allotted for the program it is possible to process during lunch breaks or overnight. It has been our practices to put the comfort and telephone breaks before or after the Decision Rounds. This way they do not get out of hand and the simulation activity gets them back to work.
With lunch breaks, this agenda requires either two very long days or two and a half normal working days. The easiest way to shorten the program is drop Round 4 and not introduce the universal life type product but rather continue to price the whole life product. This shortened program can be completed in a day and a half.
