Helping insurance leaders capture a new market

Client need

Advancements in autonomous vehicle technology and the rise of the sharing economy have sparked unique, high-growth opportunities within the insurance sector. As rideshare services and last-mile delivery becomes more popular, the demand for commercial mobility insurance has surged. Recognizing this potential, a leading insurance provider—historically successful in personal insurance for homes and vehicles—identified a strategic opportunity to expand into the commercial mobility market. 

However, this shift came with its own set of challenges. To pursue this new market successfully, the company needed leaders who could not only envision the future but also execute on a strategy that balanced this emerging opportunity with the existing demands of the business. Leaders needed to be prepared to make informed, strategic decisions, guide their teams through change, and maximize resources to drive growth on both fronts. 

Solution

To bridge this gap, the organization turned to BTS. Having invested heavily in talent development, the client sought an innovative capstone experience to equip executives with the skills to navigate the complexities of commercial and personal mobility insurance. This experience would combine traditional learning with immersive, hands-on practice to prepare leaders to operate in a dual-focus business landscape. 

BTS collaborated closely with the client’s key stakeholders to build on an existing custom business simulation tailored to the company’s unique challenges and growth goals. Through interviews and deep dives into the client’s strategy, BTS crafted realistic scenarios that mirrored the critical decisions leaders would encounter as they pursued this new strategic direction. The aim was to ensure leaders experienced the trade-offs, resource allocation challenges, and leadership decisions required to achieve success in both the traditional and commercial mobility sectors. 

The result was a dynamic, three-day virtual capstone event, where executives from diverse geographies and functions came together to compete in teams, simulating the operations of a combined personal and commercial mobility insurance company. Each team faced real-time decision points—balancing the needs of the established personal insurance business with the growth demands of the commercial mobility segment. 

Throughout the simulation, BTS facilitators, along with senior leaders from the client’s organization, guided teams through reflective debriefs, helping participants unpack the impact of their choices, understand their strategic missteps, and explore the lessons needed to adjust. This design offered leaders an active role in both learning and execution, helping them see how each decision could drive or hinder the company’s broader vision. 

The experience allowed participants to connect their day-to-day responsibilities with the organization’s growth objectives in ways they had never seen before. Leaders could see, firsthand, how their decisions affected different areas of the business, revealing the immediate consequences of missteps or successes. Winning the simulation required not only protecting the existing business but also achieving substantial growth in the new commercial mobility space—driving home the importance of the company’s strategic pivot. 

Results

This capstone simulation was hailed as the highlight of the company’s nine-month executive development program, providing leaders with a transformative experience that changed the way they viewed strategy, decision-making, and cross-functional alignment. Following the simulation, a survey of participants in the first cohort revealed the program’s profound impact: 

• 79% of participants reported a deeper understanding and appreciation for crafting an effective strategy. 

• 74% gained valuable insights into customer segmentation and its role in targeting diverse markets. 

• 85% appreciated the interconnectivity of various business decisions, better understanding the ripple effects across the company. 

• 79% recognized the power of diverse perspectives, noting that collaborating with peers from different backgrounds enriched their strategic thinking. 

• 74% left with a broader understanding of the business and its complexities. 

Testimonials

Participant feedback echoed the survey’s findings, capturing the value of the immersive experience: 

• “Though intensive, this simulation was exactly what I needed. It helped me see how the entire business fits together. I feel more confident in making decisions that consider the bigger picture.” 

• “This experience brought to life the complexity and interdependency within our business. I now have a much stronger grasp on finance for insurance, and I feel more aligned with our CFO’s perspective on the company’s financial health.” 

• “We always hear that decisions impact the entire business, but seeing that impact in real time was eye-opening. The simulation taught me that failure can be a powerful learning tool. Leaders need to take calculated risks, learn from setbacks, and push forward. I feel more prepared to step out of my comfort zone.” 

Through this immersive capstone, leaders not only understood the organization’s strategic shift—they practiced executing it. The company now has a team of executives ready to lead in the fast-evolving commercial mobility market, equipped with the insights and confidence to drive sustained growth and innovation.