Using Simulations in Field Management Development of an International Life Insurance Company

Abstract

"A major U.S. life insurance company decided to enter the international life insurance market by starting new companies in Asia and Europe. Their business plan was to establish a sales distribution system using an agency system similar to the one that they use in their domestic marketing operation. The agencies would be managed by nationals of the countries in which they do business. The company strategy was to recruit successful field sales managers who did not have experience in the life insurance industry. The company established the training objectives for these managers, and an agency simulation model was one of the tools that was developed to meet the objectives of the management training program. This session will be a lecture describing how the simulation was developed and implemented into the management training program. "