(EDIT: For those who didn’t already guess, this was Genasys’ own April Fools gag. Thank you to Insurance Times for joining in the fun and to all those who engaged with the story throughout the day.)
Genasys, a leading provider of insurance administration software, today announces its sponsorship of the simulation game ‘Insurance Simulator 2024’ to help attract next gen talent to the insurance industry.
The management simulation game allows players to build their own insurance business from the ground up, demonstrating the reality of insurance and its many facets and functions in an engaging, compelling way. The true-to-life game scenarios have been developed by real-life actuaries. Players will gain an insight into managing a book of business from implementing and marketing new product lines, through to managing emerging risks and catastrophic events, managing operations across different territories and the core tech that underpins their simulated operations.
As Genasys Group CEO André Symes explains, this initiative is about more than just gamification. “If as an industry we’re genuinely serious about finding next gen talent then we have to start thinking differently. We’ve got to think outside the box and really show up in spaces where our future insurance super stars engage.”
He adds: “For those of us working across the insurance sector, we know just how interesting it is and how relevant it is to our daily lives. As the world evolves, new and often complex risks and opportunities emerge, which can impact existing risk portfolios. That affects insurers in countless ways, from pricing and product development to compliance and the flexible digital infrastructure that supports daily operations.”
Sponsoring this initiative, he says, fits perfectly with the Genasys ethos. “We believe in challenging perceptions. Insurance isn’t a world of beige filing cabinets and grey suits. It’s a sector fuelled by data, powered by purpose, and brimming with technological potential. If a game like Insurance Simulator 2024 can break the stereotype and highlight the real strategic depth of the industry, then we’re all for it.”
Gameplay that mirrors reality (sort of)
In Insurance Simulator 2024, players can do far more than simply sell policies. The game provides full control over an insurer’s strategic and operational decisions, including:
-
Hiring and deployment of underwriters based on class of business, performance and individual experience, with each employee featuring unique personalities and behavioural traits (some more ‘colourful’ than others).
-
Delegating authority to MGAs, setting bespoke parameters for product lines, authority limits, and appetite for risk—just don’t forget to audit them.
-
Opening new offices across global territories, navigating different regulatory frameworks, linguistic quirks, and sometimes bribery scandals (we’re joking. Or are we?).
-
Mini-games including “Negotiate With a Broker Without Losing Your Sanity”, “Build a Policy Wording with 3,000 Clauses” and “Survive the Q4 Board Meeting.”
-
Resource management where players must decide how to distribute budgets across HR, compliance, marketing and distribution, all while meeting solvency capital requirements.
-
Disaster response scenarios that test players on how their portfolio copes with floods, cyber-attacks, and the odd PR crisis involving exploding toasters.
-
Tech stack design, letting players choose their core policy admin platform (with obviously only one correct answer), build API integrations and source the best third-party partners.
-
Sustainability and ESG strategy, which boosts long-term reputation and unlocks the elusive “Customer Lifetime Value Multiplier” badge.
The game has been developed by independent studio InaudibleMirage, known for their weirdly realistic approach to niche simulation games. The Genasys team worked closely with them throughout development to ensure a mix of realism, humour and terrifyingly accurate fiscal modelling.
Ian Trelom, Studio Head at InaudibleMirage, said: “We couldn’t be luckier in finding and collaborating with Genasys. The knowledge and understanding of the industry they brought to the project, along with their many creative ideas, has undoubtedly taken the game to new heights. We can’t wait to see how players respond.”
Insurance Simulator 2024 is set for release on 1 May 2024 via Steam—just in time for insurance professionals everywhere to relive the joy of managing policy lifecycles, only with fewer spreadsheets and more explosions.
