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The Actuary The magazine of the Institute & Faculty of Actuaries

The insurance game

A computer programme showing pupils across Scotland how to get a grip on the insurance markets is being introduced to secondary schools. The new game, called POL: isi (Profi t or loss: insurance students initiative) allows pupils to run their own virtual insurance companies.

It has been developed by the Insurance and Actuarial Society of Glasgow (IASG) as an imaginative way of promoting career opportunities in the insurance sector. Working in teams, students run their own insurance companies over a three-year cycle. With the aid of a mentor from the IASG, the pupils have to make decisions on what products to sell, what premiums to charge and how to market their own company. They also need to deal with virtual crises and situations that the game presents.

The programme has just been launched, with the help of firms including Aegon, in Glasgow’s 29 secondary schools following a pilot study at the John Paul Academy in Summerston. Teams from each school will take part in a competition with the most profitable team winning the opportunity to compete in a grand final against a team of insurance industry experts. If POL: isi proves successful it will be rolled out across Scotland.