This week sees the launch of AILO’s Navigate 2 programme of 15 eLearning modules.
Navigate 1, launched in May 2022, is still the only eLearning programme in the market that meets the specified annual training requirements detailed in the Insurance Distribution Directive. These Navigate 1 modules have since been completed by hundreds of staff at AILO Member companies.
Navigate 2 builds on Navigate 1 by creating a series of scenario-based case studies and problem-solving exercises that are intended to test application of the Insurance Distribution Directive and related regulations covered in the original Navigate 1 programme.
Navigate 2 also utilises the very latest expressive avatar technology to bring the case studies and problem-solving exercises to life.
In Navigate 2, there are seven pairs of modules, the first of which outlines a specific life company or distributor case study and the second a set of problem-solving exercises based on the related case study module. Module 15 is standalone and deals with what happens to a life company when it comes to a natural end, or the owners choose to pursue an alternative strategy. In all modules participants are tasked with making recommendations to the Board on the best course of action to pursue.
In these life company and distributor case study modules, participants must successfully negotiate two Decision Point, the first of which involves them identifying the correct:
• Profile of the target customer;
• The product that should be promoted to them; and
• The investment option the product should link to.
At the second Decision Point participants are asked to select:
• The distribution channel or distribution strategy that should be deployed to reach the target customers; and
• The remuneration basis by which sales of the product should be incentivised.
Having successfully completed a life company or distributor case study module participants are then faced with a series of three problem-solving exercises, or Business Challenges, relating to the same life company or distributor firm. Each of these Business Challenges represents a specific problem that a life company or distributor firm can face in the course of its business and is based on some aspect of the Insurance
Distribution Directive and related regulatory initiatives
These Business Challenges are designed to test the participant’s understanding and application of this legislation by presenting them with some typical situations faced by life companies or by distributor firms in other modules.
All of the scenario-based case studies and problem-solving exercises in Navigate 2 are fictional and intended to illustrate the sort of problems life companies and distributor firms can face, albeit many of them involve extreme examples of what can happen in practice.
For education and learning purposes, these 15 Navigate 2 modules are not based in any specific country, but in all cases the Insurance Distribution Directive and related legislation are applicable. As a result, all customer, product, investment, distribution and remuneration options are possible in each module.
Simon Willoughby, AILO Proposition Executive, has led the development of the Navigate eLearning programmes working with AILO’s digital partner, Governance People.
Commenting on the launch of Navigate 2, he said: “Navigate 2 has been fully 18 months in the making and represents a major step change in AILO’s eLearning offering. If Navigate 1 focused on factual aspects of how the life insurance sector works and the relevance of the Insurance Distribution Directive and related legislation,
"Navigate 2 is altogether more practical and requires the application of that knowledge to solve near real life problems and to make a series of strategic choices. The objective of this is to give life company and distributor staff a broad insight into aspects of the sector that their day-today role may deny them access to.
"Whether you’re recently joined the sector and are an old hand like me, you really should try Navigate 2. The avatars are uncannily real, they have to be seen to be believed, but they really do add to the learning experience. Finally, I’d also like to thank my small team of subject matter experts who have assisted me in the drafting of Navigate 2 and correcting me, very politely, when I’ve got stuff wrong!”
The Navigate 2 programme of eLearning modules is available exclusively and free as part of AILO membership.
If you are not currently an AILO member, click here for details of how to join. Alternatively, please contact the secretariat@ailo.org for further details.
