Creative Commons Summary
This summary outlines a teaching case called "Herding Cats," which uses a simulation game to explore risk management in the competitive property catastrophe insurance market. The case focuses on the tension between competition and managing insurance sales, underwriting, and rating risks. Students make risky decisions within a simulated environment, considering factors like insurable value, risk level, geographic region, and reinsurance. The case requires understanding of property insurance, catastrophe risk, and insurer performance, and utilizes Excel for analysis. Ultimately, the aim is to enhance decision-making skills under uncertainty and promote negotiation and conflict resolution within group settings. The document provides instructors with guidance, strategy forms, and other tools to implement the case effectively. A simulation workbook is used to run the game. This work is licensed under CC BY-NC-SA 4.0. To view a copy of this license, visit https://creativecommons.org/licenses/by-nc-sa/4.0/
PCAT Game Simulator (CC-BY-NC-SA 4.0) runs the game;
Underwriting Strategies and Account Bid Record Sheets used for students to keep track of game play over time;
Account Summary (CC-BY-NC-SA 4.0) contains the following information for each account: probable maximum loss (PML), total insured value (TIV), risk profile, initial rate, and region used to develop bids;
Team Bid Sheet (CC-BY-NC-SA 4.0) used to report bids and treaty reinsurance amount;
CAT Event and Account Loss Generator, Excel-based loss generator (CC-BY-NC-SA 4.0) used to generate random losses for catastrophes and individual accounts; and
PCAT Game Outline PowerPoint presentation (CC-BY-NC-SA 4.0) to explain the simulation.
Practice Team Bid Sheet (CC-BY-NC-SA 4.0) allows groups to have 1-2 practice rounds to learn how to bid for accounts, report reinsurance and follow directions to ensure a smooth flow to the game.
PCAT Standings Template to allow the Game Master to record results over time.
PCAT Simulation Game Instructions (CC-BY-NC-SA 4.0); a PPT detailing how to run the game.
PCAT Game User Manual (CC-BY-NC-SA 4.0) providing more in-depth information on the game and alternative versions of the game.
To access these materials click here: access PCAT Game Tools. This will send a request from you to access these files. If you do not receive a response within 3 business days please email me.