Program Brief

The Associate, Life Management Institute (ALMI) awarded by Life Office Management Association (LOMA) is a global professional qualification that focuses on knowledge and skills relevant to the insurance industry and the financial services sector, in addition to being a standard of excellence in preparing industry experts. Insurance Company Operations- LOMA 307 is one of the subjects required for obtaining the fellowship. It covers several topics including how life insurance companies operate, how they are organized, how they are managed, and the roles of functional and support units in developing, distributing, issuing, and administering life insurance and annuity products.

Program Goals

At the end of the training program, the participant should be able to:

  • Describe how life insurance companies operate, organized and manage in today’s global environment, and the roles specific functional and support units play in developing, distributing, issuing, and administering life insurance and annuity product
  • Explain traditional ways that insurers organize operations.
  • Describe types of customer-related confidential information and how insurance company employees should handle such information to comply with privacy and confidentiality requirements, as well as ethics and regulatory guidelines.
  • Understand the differences between legal functions and compliance functions.
  • Describe how human resources (HR) are organized and their primary responsibilities, notably planning and staffing, training, performance evaluation standards, and oversight of compensation and benefits programs.
  • Identify the main elements in information management, including database management systems.
  • Describe how business intelligence and business analytics are used in insurance companies.
  • Describe common risks life insurance companies face and the risk management techniques deployed.
Program Agenda
Insurance Company Organization and Operations
    Corporate Governance, Ethics, and Control
      Risk and Risk Management
        Legal and Compliance
          Human Resources Management
            Information and Technology
              Financial Management
                Accounting, Treasury Operations, and Auditing
                  Investment Management
                    Marketing
                      Product Development
                        Product Distribution
                          New Business and Underwriting
                            Claim and Annuity Benefit Administration
                              Customer Service
                                Program Requirements

                                Not Available

                                Program Path

                                Names of the training programs that are integrated (enriched) with the training program:

                                • Not Available

                                Names of the training programs that after the training program:

                                Program Method
                                • Lecture
                                • Case Studies
                                Evaluation Method
                                • Pre Exam
                                • Post Exam
                                • Simulation Test for professional exam
                                Training Type
                                • In Class Training
                                • Online Training

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