Business was the subject for Victor Scott Primary School students taking part in an XL pilot programme designed to inspire the nine and ten year olds to pursue opportunities that occur in the future — a programme which next year will be made available to XL offices around the world.

Taught by XL Group employees, called ‘XL buddies’, the students presented fictional businesses to potential fictional investors as part of the four month programme.

An XL press release stated: “Throughout the programme, employees from XL’s Insurance and Reinsurance operations in Bermuda engaged with 9- and 10-year old students in Victor Scott Primary’s P5 class through a series of workshops designed to teach the children how businesses operate.

“Students explored a variety of jobs, and the skills required to do them. They learned about insurance and its importance. They also developed their own fictional businesses and pitched them to a team of potential fictional investors at XL’s O’Hara House this week.

“The winning business idea was The Pet Center, a ‘one stop shop for all your pet needs!’ ”

The concept included the availability of a wide range of pet foods and accessories, and additional services including grooming, pet day care and an international pet courier service. The press release stated that the XL ‘investors’ commented that ‘the presentation was well organised, with questions to the audience to maintain interest.’ In addition to individual prizes for the students in the winning group, there was also a donation of books to their school library.

XL, whose XL Group plc’s insurance companies offer property, casualty, professional and speciality insurance products around the world, stated: “The programme enabled the students to experience how a business would grow, including writing and conducting market research surveys around Hamilton, and then used mathematics and technology skills to interpret and present the results.” The XL buddies assisted the students with activities which were designed to encourage critical thinking through questions and discussion.

The programme, developed and piloted in XL’s Bermuda office, will be available to other XL offices “for replication in schools in other global regions in which XL does business, starting in 2015.”

Valerie Williams, principal of Victor Scott Primary School, is quoted saying: “As a ‘Leader In Me’ school, we at Victor Scott Primary are always looking for opportunities to enhance and further develop our students’ leadership skills. Our hope is that the seeds that have been planted through this wonderful initiative will germinate and blossom into exciting possibilities for our Primary 5 students. Once again, we extend a heartfelt thank you to XL for providing these fantastic opportunities to broaden and extend our students’ education experiences.”

And Patrick Tannock, President of XL Insurance (Bermuda) Ltd, is also quoted: “Through this project we’ve seen the impact we can make as a business by donating time and skills. Not only has it enabled our staff to contribute to the community they’re living in, but it’s also introduced students to a world of future career possibilities. As a business we believe we have a duty to support the next generation; they will be our employees, our clients, and a big part of making our future community thrive.”

Jevon Williams, XL associate legal counsel, who is also a former student of Victor Scott Primary School and an ‘XL buddy’, said in the press release: “I think all the buddies would agree that the project has been a positive and rewarding experience.

“I believe we’ve been able to show the students what they can aspire to, and we’re proud of how much their skills have developed over the past few months. We’ve also learned from them.”

Useful website: xlgroup.com/insurance.