The Chubb/Wharton Recognized Insurance Leader Program offers Chubb agency executives the opportunity to earn a Chubb/Wharton Certificate of Leadership Development and Recognized Insurance Leader designation. As a Recognized Insurance Leader, you will show a commitment to continuous improvement, enhance your business skills in many functional areas, benefit from the expertise of one of the world’s largest and most-cited business school faculties, and develop a network of professional contacts in the insurance industry.
This designation requires managers to acquire 40 points through participation in Chubb/Wharton programs over a three-year period.
Modules
The core curriculum consists of several modules offered jointly by Chubb and Wharton. The required module in the curriculum is the one-week Wharton Core Leadership Program: Business Competencies for the Insurance Executive.
Other modules focus on topics introduced in the core program (for detailed information on each module, please click on the “Experience” tab below):
- Advanced Leadership Lessons (Oct. 13–16, 2008)
- Advanced Insurance Issues (three days)
- Financial Analyses for Independent Agents (three days)
- Growth Through Innovation
- Issues Facing the CEO
- Mergers and Acquisitions
- Negotiation Skills
- Changing the Game (three days)
- Strategic Planning
Points may be acquired as follows:
- Initial one-week module: five days – 10 points
- Four-day module – 8 points
- Three-day module – 6 points
- Two-day module – 4 points
To complete the program in a three-year period, managers usually complete at least two modules a year.
Suggested Track
- Year One
- Wharton Core Leadership: five days – 10 points
- Module 1: four days – 8 points
- Year Two
- Module 2: three days – 6 points
- Module 3: two days – 4 points
- Year Three
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- Module 4: three days – 6 points
- Module 5: three days – 6 points
- Total – 40 points
The shared learning and networks that are created with fellow executives is an important benefit of participating in the program. The program is designed to bring together a cohort of agency executives who begin and end the program together. Upon completion of the required points, a convocation ceremony will be held in a desirable location. Each year, the core module will be offered in the Spring with at least two elective modules so that executives can stay on track for completion.
CORE CURRICULUM
Wharton Core Leadership Program: Business Competencies for the Insurance Executive is the foundation of the Chubb/Wharton Recognized Insurance Leader Program. It serves as the prerequisite for all modules in the curriculum.
In this brand new five-day program, participants examine critical issues facing today’s agencies, offer insights and frameworks for managing change, and provide a forum where agency leaders can discuss challenges and the future state of the insurance industry. Agency Education selects the program's professors from Wharton’s world-renowned faculty.
A key focus of the week is an integrative exercise that places participants in the role of a senior management team. Participants working in teams manage companies that must compete and cooperate within an ecosystem. As each team leads their respective companies, it is responsible for and evaluated on its ability to create and sustain value for all of the stakeholders of their company including customers, employees, shareholders, the community, and local government. Each team is responsible for all aspects of the organization including strategy, finance, service design, sales and support, and operations.
The program focuses on strategy formulation, managing and leading change, creating a value culture, risk-based decision making, and leadership development. The simulation illustrates the complexities and linkages associated with strategy execution, focusing specifically on business acumen and leadership challenges.
Additional Modules
The other modules focus on topics introduced in the core program:
- Advanced Leadership Lessons — Planning for the Future by Looking to the Past
Formerly known as Advanced Leadership Seminar, this module discusses how to inspire employees to do more with less, motivate employees to assume more responsibility, and successfully tackle the challenges that face your organization. These are the skills that exceptional leaders will need to bring their agencies into the future. Where can these lessons be learned? Some of the best leadership lessons for the future are learned from the past. What can you do to inspire your employees to assume more responsibility? How can you use your personal leadership skills to tackle the challenges facing your organization? Our industry is fraught with change — mergers, acquisitions, strategic alliances, and partnerships. Exceptional leadership is in greater demand more than ever. Exploring Shakespearian drama, the battles of Gettysburg, and teamwork exercises, will allow participants to explore the role of the leader and the qualities of leadership.
- Negotiating Skills — Taking Your Best and Making It Better
This module will help participants prepare for and conduct real-world negotiations, from personal to professional, small to large, and daily to extraordinary. The workshop provides hard-hitting, practical, intensive, and transformative techniques. Moving beyond simplistic formulas like “win-win” and “win-lose,” it draws upon the latest research and best practices from across industries. Building upon their natural styles, participants will develop frameworks and capabilities that they can apply immediately to current challenges. Case work, group discussion, and numerous role-plays allow participants to apply the skills they are learning.
- Growth Through Innovation
One of the biggest challenges facing many agency principals is how to accelerate business growth. This program will introduce executives to a set of tools. These tools will provide a framework and specific activities that managers can use to identify strategies for growth. Utilizing the tools, managers will be encouraged to think more rigorously about the growth opportunities that are all around them. Growth opportunities will be explored in several different ways. Using a Consumption Chain analysis, participants will look for ways to transform the customer’s experience. Attribute mapping will allow participants to examine how the attributes of the company’s offerings, both products and services, are positioned relative to the customer’s expectations. Opportunities for growth can be found by looking at key metrics that drive profitable growth. Participants will explore this concept.
- Financial Analyses for Independent Agents
During this three-day program, participants will use financial analysis to examine the key actions an operating manager should take to increase the value of his or her agency. On the first day, the group will look at financial analysis as a way to assess the performance of strategies and how they relate to growth, profitability, and valuation. During this session, the group will focus on a robust computation of return on capital. On the second day, participants will use case studies to learn to calculate client profitability, ways to manage overhead, and customer lifetime value. On the final day, the group will look at ways to analyze the strength of cash flow, specifically spending time discussing the sources and uses of cash, working capital management, and the effects of non-cash charges on both earnings and cashflow. The program concludes with a case that allows participants to construct an integrated set of financial statements to determine a company’s potential for future growth.
- Advanced Insurance Issues
- Strategic Planning
- Mergers and Acquisitions
- Issues Facing the CEO
This program is designed for leaders who would like to distinguish themselves by showing a commitment to continuous improvement and benefit from a world-class academic experience at the first collegiate school of business — and the most comprehensive global source of business knowledge.
As a Recognized Insurance Leader, you will show a commitment to continuous improvement, enhance your business skills in many functional areas, benefit from the expertise of one of the world’s largest and most-cited business school faculty, and develop a network of professional contacts in the insurance industry. Upon completion of the course work, executives will receive the Chubb/Wharton Leadership Designation that would entitle them to the following privileges:
- Free attendance at the convocation, held at a desirable location
- Exclusive invitations to seminars
- Exclusive invitations to private webcasts
- Access to an members-only website
- Invitations to special events offered by Wharton (such as book signings and private seminars)
- Eligibility for Chubb scholarships to open-enrollment programs at Wharton
- Invitations to networking events with Wharton professors and Chubb executives