Taking Insurance Training Online

Insurance companies spend considerable time, effort and money keeping brokers and clients abreast of new developments. Unfortunately, much of their educational investments are met with disappointing results. Whether it is the time-delay and obsolescence of print, the information overload of e-mail, the disappointing responses from direct mail or the time requirement of classroom learning, traditional education is no longer getting the message out.

To overcome this challenge and get a healthy return for their educational dollar, companies are increasingly turning to e-learning solutions.

What is e-learning?

The e-learning industry has grown exponentially in recent years. Given the explosive changes in the industry, it is not surprising that its very definition has also evolved. Previously, e-learning referred to any learning assisted by technology and included video conferencing, computer-based training with CD ROMs and Internet-based training. Today, its definition is more refined. Marc Rosenberg, one of the industry’s most frequently quoted authors, defines e-learning as “using Internet technologies to deliver an array of solutions that enhance knowledge and performance”.

So, why all the fuss? Its attraction lies in its versatility. E-learning cuts travel expenses and reduces the time it takes to train people. For the insurance industry, brokers can access the training when needed and avoid lost productivity from days spent in the classroom. Combined with the logistical reality of training brokers who are dispersed throughout the country, e-learning has become an important alternative to classroom instruction.

What works, what doesn’t

Early forms of e-learning received a lukewarm response. Why? Boredom. In seeking to reduce costs, companies over-standardized course format and presentations. Learners were forced to click through heavy text-laden screens. Content was often out of date and little attention was paid to what makes an effective web-based training experience. The result was underwhelming interest.

As with any form of training, learners must be engaged. Successful web-based courses use sound instructional design principles with an emphasis on interactivity such as instant feedback on quizzes, chat rooms, simulations, and e-mail discussions. This requires more than just a good website designer. The most effective courses are developed based on an assessment of the learners’ needs, and their technological capabilities.

IDC Canada, an international research firm, predicts that the Canadian e-learning industry will increase from $145 million to $855 million in the next two years. In the U.S., the industry is expected to reach a staggering $11 billion in 2003, up from $2.2 billion today.

Given the benefits of e-learning, it might be easy to declare the end to traditional classroom training. Not so. In fact, the best option is a ‘blended solution’. While insurers continue to maintain relationships with onsite presentations, e-learning reinforces the information in an interactive manner. Brokers have access to updated material when they need it while cutting down on excessive travel costs.

Implementation ideas

Educational/ marketing pieces are being used to inform brokers about product developments. Interactive questions and answers reinforce the material learned. Once created, web-based educational pieces can be viewed and replayed for as long as it is posted on the website. In addition, courses can be created to satisfy broker continuing education credit requirements.

For example, specialty insurance lines such as professional liability, trade credit and political risk are complicated. Without training, brokers cannot be expected to be able to discuss these products with clients. But without the time to devote to education, training is impossible.

When time, cost and geography prohibit face-to-face learning, online education can fill the void better than any other media. Brokers can be invited to participate in online learning for a specialty product at their convenience and in the comfort and privacy of their home or office. The ability to review all or certain aspects of the product helps ensure a complete understanding by those who will ultimately be responsible for selling it.

To help brokers in the sales process, CD-ROMs can also be used to present the new product line to clients. Designed in an interactive and informative manner, this tool allows brokers to demonstrate the benefits of the product more readily to clients. It also mitigates brokers’ errors and omissions risk.

Freeing brokers from unnecessary classroom time enables them to learn on their own time and at their own pace. This lets them absorb information when it is more likely to sit with them. Ultimately this will translate into a more accurate representation of the insurance product and all its benefits to the end consumer.

The Wired World welcomes your feedback. Contact us, via E-mail at <vikki@canadianunderwriter.ca”>b>vikki@canadianunderwriter.ca