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EMB launches insurance industry’s most comprehensive training programme

~ 100 specialised business simulation courses available ~

July 21, 2008

EMB, the actuarial and business consultancy, has developed around 100 professional development courses, using a mix of business simulation, theory, and practical tasks to educate delegates about key areas of non-life insurance. Topics include pricing and underwriting; risk and capital management; claims and reserving as well as reinsurance, measuring performance, marketing and regulation.

EMB Professional Development (www.emb.co.uk/development) is tailored for each level of professional – from graduate to board level. Run by practising insurance experts, it is split into two strands designed to meet specific client needs and drive business growth.

The first strand, Principles of Insurance, demonstrates how key areas of insurance operate in practice and how practitioners can drive company growth. A key ingredient is the use of business simulation exercises to follow the lifecycle of an insurance company through real life scenarios. The second strand, Mastering EMB Software, provides training on using EMB’s market-leading pricing, financial modelling, reserving and reinsurance applications.

“Professional development is a crucial ingredient in creating cohesive companies,” said Richard Rodriguez, partner at EMB. “Insurance is an industry where the drive for efficiency has often created fractured operations. This is very different to a traditional technical training service, as we’re sharing our knowledge and operational experience of the industry. Drawing on our everyday work with customers in all aspects of the industry, enables us to bring a touch of reality to the scenarios we simulate, which adds real value when making business decisions.”

Regulatory changes, especially Solvency II for capital management, demand that people across insurance companies must have a good understanding of the technical issues. New requirements and techniques are being introduced every year and external courses are the best way of updating in-house practitioners on these issues.

“With the experience gained by working with the largest non-life insurers and reinsurers in the world, EMB’s specialists bring an unprecedented level of real market dimension to the programme,” commented Anju Bell, director at EMB. “The participants understand the full impact their area of expertise has on the business as a whole, as well as gaining first hand experience of putting what they have learnt into practice. The response from clients who have attended the courses has been extremely positive.”

“We selected EMB to provide the pricing training for our Technical Leadership Programme since they are acknowledged experts in this field and we've been impressed with the training courses they've run for us in the past. The pricing course worked well because there was a good blend of theory and practical application. The team sent on the course highlighted the trainers' in-depth knowledge of both modelling techniques and the wider considerations involved in rate setting. There has been a noticeable improvement in the pricing recommendations being prepared by the team sent on the course and their ability to work with different business areas on pricing matters,” said Colin Morris, Head of Actuarial, MMA Insurance.

The courses are available for insurance executives across all areas of the business, including risk managers, accountants, underwriters, actuaries and claims professionals. They can be run from EMB offices or on a company’s premises.

Executive quote

“Professional development is a crucial ingredient in creating cohesive companies,” said Richard Rodriguez, partner at EMB. “Insurance is an industry where the drive for efficiency has often created fractured operations. This is very different to a traditional technical training service, as we’re sharing our knowledge and operational experience of the industry. Drawing on our everyday work with customers in all aspects of the industry, enables us to bring a touch of reality to the scenarios we simulate, which adds real value when making business decisions.”

“With the experience gained by working with the largest non-life insurers and reinsurers in the world, EMB’s specialists bring an unprecedented level of real market dimension to the programme,” commented Anju Bell, director at EMB. “The participants understand the full impact their area of expertise has on the business as a whole, as well as gaining first hand experience of putting what they have learnt into practice. The response from clients who have attended the courses has been extremely positive.”

Customer quote

“We selected EMB to provide the pricing training for our Technical Leadership Programme since they are acknowledged experts in this field and we've been impressed with the training courses they've run for us in the past. The pricing course worked well because there was a good blend of theory and practical application. The team sent on the course highlighted the trainers' in-depth knowledge of both modelling techniques and the wider considerations involved in rate setting. There has been a noticeable improvement in the pricing recommendations being prepared by the team sent on the course and their ability to work with different business areas on pricing matters,” said Colin Morris, Head of Actuarial, MMA Insurance.

About the company

Established in 1993, EMB (www.emb.co.uk) is a rapidly growing international firm, which combines actuarial consultants with highly analytical and risk assessment software. EMB’s range of software is unrivalled, making it feasible to perform tasks that would otherwise be impossible, impractical or hugely time-consuming. Headquartered in the UK, it employs more than 250 people around the globe covering Americas, Asia-Pacific and Europe, Middle East & Africa. It is the market-leading consultancy in non-life insurance, covering personal lines, commercial insurance and the London Market. Clients include 28 of the top 30 non-life companies in the world.

Contact details

For more information, please contact Lorna Hughes or Anna White at LEWIS, the PR agency, at:

Tel: +44 (0) 20 7802 2626
Fax: +44 (0) 20 7802 2627
Email: lornah / annaw@lewispr.com
Web: http://www.lewispr.com

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