InnoWard 2008 – Accolade for Lebensversicherung von 1871 a. G. (LV 1871)

LV 1871 supported a fundamental change process towards a risk and value based management with a non-traditional personnel development project. To this end LV 1871 and riva jointly developed IRIS Insurance Game life as the core element of a newly introduced “management workshop LV 1871”. In that workshop all managers were successively introduced to, and practised to work with, the new tools for a risk and value based management. The simulation game represents the interrelations and consequences of the participants’ decisions. In this way a challenging and realistic overall picture of relevant problems and developments in life insurance business emerges. In a motivating learning situation participants experience cross-functional cooperation, strategic and operational planning processes, the informative value of traditional business ratios and the requirements of risk and value based management.

The exemplary project “management workshop LV 1871” won the second prize in the personnel development and qualification category of the InnoWard 2008 for its innovative concept.