Gamification: A Gamechanger for the Insurance Industry?
Since the 1950’s, games, and their ability to captivate the attention and imagination of players across the globe, have grown exponentially, with billions taking part in the popular past time each year.
But when it comes to utilising games outside of recreation, gamification has become an increasingly popular tool within businesses and the education sector alike, generating engaging and informative materials through the addition of game mechanics into nongame environments.
Within the insurance sector, the application of gamification could help overcome barriers to learning and working, generating an engaging and interactive experience that teams can use and re-live again and again.
By implementing game mechanics into training tools and recruitment materials, businesses can develop compelling games with clear cut objectives and goals for their employees, providing immediate feedback to inform development.
Although many have been put off by the high costs associated with traditional gamification, new, browser-based tools are increasingly becoming available for businesses, giving employers the power to create their own high-quality games in just a few hours.
Lisa Brennan, Managing Director of Strategic Ambitions and Insurance HR Consultant for Construct, discusses the challenges facing the Insurance sector and how employers can overcome them through the use of gamification.
With frequent changes to regulation in the insurance sector, compliance training can often take up considerable time for both those delivering the training and those attending. By transforming what is typically delivered as a presentation into an interactive online game, not only does engagement into the material improve, but employee retention can vastly improve.
Games that take traditional training and diversify the delivery to include avatars and experience points, can provide businesses with a global portal to identify the distribution of skills not only for each worker, but for the workforce as a whole.
By playing games based around a range of training topics, individuals could develop their avatars skill set, reflecting their real-life skills as they go through subject materials.
“When we think about the essentials that firms have to cover during training, it’s usually topics such as compliance and health and safety that fall to the wayside.
“Employees often see these compulsory modules as a means to an end, although important, the delivery can be quite dry, and they’re seen as a check box exercise crammed into already busy schedules.
“By livening up how we go about teaching these topics through gamification techniques and platforms, not only would it help motivate employees to take part, allowing employees greater flexibility to carry out the training at a time that suits them.”
Standardisation of assessment
Using these online games and portals can also help promote regularity of assessment processes. From demonstrating the appropriate tools and methods of damage assessment, to the journey from claim to pay-out, games that replicate situational aspects of the job can help insurers practice these techniques in a ‘safe’ environment, giving them real time feedback and allowing them to build their confidence before being faced with these scenarios in the real world.
“For new starters, a lot of the issues we see in HR arise from a lack of confidence in themselves and their skills when carrying out assessments.
“Whereas before COVID, new employees may have had the opportunity to shadow more experienced evaluators and ask questions while on the job, working from home, alongside a desire to boost efficiency and speed up processes, has limited the number of opportunities to ask these questions and observe.
“Having a system in place where green team members can practice and test out their ideas in a safe environment is incredibly valuable to boosting confidence.
“Gamification offers this opportunity through use of simulation. By allowing the player to make their decisions and giving them immediate feedback, they can test out their ideas without fear of judgement or a negative repercussion.
“Voices that otherwise might be muffled in group training situations can finally have a chance to shine, providing bespoke training solutions without a high level of investment.”
When it comes to new talent within the insurance sector, ensuring adequate numbers of graduates are entering the world of insurance to replace an aging workforce is a challenge many firms face. The question of how insurance companies can engage and attract a new generation of actuaries and underwriters could find its solution within simulation style games, showcasing exciting applications of insurance, such as kidnap and ransom, that many may not consider.
“Although it’s not always painted as an exciting sector to work in, there are a lot of applications for insurance that many wouldn’t immediately consider.
“In HR we see quite a large turnover of staff and an aging workforce. If we want to attract fresh talent to the insurance industry, we’ll need to change the way we approach recruitment, especially where graduates are concerned.
“By applying gamification tools, we can showcase the sector for what it really is, highlighting the exciting challenges workers might come up against and amplifying the message that insurance is undergoing rapid digitalisation, something that ultimately might appeal to Gen Zs.”
When disaster strikes, how firms prepare their employees to react to the inevitable can make or break a deal. Disaster management events can be incredibly costly and time consuming, with department leads called in to take part in the activity over the course of multiple days.
By taking the existing disaster management training and producing games that simulate the types of issues workers are likely to face, businesses can save on the costs and time that they’re likely to put into these large-scale events.
“Disaster management events are incredibly costly events for insurance firms, but crucial in ensuring that all workers are prepared for when it comes down to these events.
“Simulating disasters such as cyber-attacks within a game can test out the alternative processes and showcase the possible outcomes based on decisions team members make.
“In these situations, it’s not always as straight forward as there only being one solution, different people will react in different ways, and having a game that can collect these differing responses and test them against a very real threat can not only help educate workers about the current processes in place, but also help employers to consider out of the box responses.
“As threats develop and these means of attack become more advanced, the way businesses tackle the issue will also need to evolve. It’s essential that the insurance sector utilises these digital tools such as gamification to avoid being left behind.”
Author: Lisa Brennan