Associate Program and Other LOMA Learning Experiences

Organization

LOMA

Credit Course Categories:

In addition to offering the FLMI Insurance Education Program, LOMA offers other self-directed learning programs and courses for home office and branch office employees of LOMA members. Achievement is assessed through rigorous examinations. Students prepare for the examinations by independent study of assigned textual materials, through application of acquired experience, or in some cases, through classroom instruction.

Careful attention is paid by LOMA to program development; both course content and examinations are constantly reviewed to remain in line with current trends in the field. Although standard textbooks are used when appropriate, many of the assigned textbooks and instructional materials have been developed specifically for use in the Program.

Descriptions and credit recommendations for all evaluated learning experiences

Customer Service for Insurance Professionals (ACS 101)

Length:

Varies-independent study.

Dates:

November 2014 - Present.

Objectives:

Upon successful completion of the course, students will be able to: define characteristics of exceptional customer service and explain why providing exceptional customer service is a top priority for many financial services companies; describe the knowledge and skills that service providers should possess to provide exceptional customer service, the challenges they confront, and the benefits to the company of exceptional customer service; describe how financial services companies gather performance information using customer satisfaction surveys, observation, monitoring, mystery shoppers, and complaint monitoring; identify and describe various forms of technology that financial services companies use to share and manage customer service information, including computer networks, knowledge management systems, databases, document management systems, and automated workflow systems; and describe the steps service providers can take to best manage and resolve potential conflicts presented by upset or difficult customers.

Instruction:

Customer Service for Financial Professionals (ACS 101) is an online interactive course that provides a comprehensive overview of the role of customer service in financial services organizations and the skills service providers need to deliver exceptional customer service. The course describes customer service functions and processes, technologies, and offers the opportunities for students to learn and improve their listening, speaking, and writing skills so they can interact effectively with customers.

Credit recommendation:

In the associate/certificate degree category OR in the lower division baccalaureate/associate degree category, 2 semester hours in Business Administration (11/14) (3/20 revalidation).

View on page as single course>>

[ Back to top ]

Foundations of Customer Service (ACS 100)

Formerly Foundations of Customer Service (ACS Course CS-1)

Length:

Varies-independent study.

Dates:

Version 1: June 1991 - October 2000. Version 2: November 2000 - December 2005. Version 3: January 2006 - Present.

Objectives:

Version 1 and 2: Upon successful completion of the course, students will be able to: explain the strategic value of excellent customer service; evaluate customer service systems; and apply proven customer service techniques. Version 3: Upon succesful completion of the course, students will be able to: explain the value of exceptional customer service; describe the organization, systems, and processes for customer service in a financial services organization;and describe the knowledge and skills that employees need to deliver exceptional customer service.

Instruction:

Version 1: Major topics include: customer expectations and perceptions; developing a customer service strategy; developing a dedicated customer service staff; customer service research; establishing and measuring the performance of a customer service system; communication skills for customer service, including conflict management and resolution. Version 2: Major topics include: customer expectations and perceptions; developing a customer service strategy; selecting and training a dedicated customer service staff; customer service research; establishing and measuring the performance of a customer service system; communication skills for customer service, including conflict management and resolution; using technology to enhance customer service. Version 3: This course provides a comprehensive introduction to customer service in a financial services environment. Major topics include: introduction to customer service; exceptional customer service; selecting, training, evaluating, and motivating customer service employees; understanding customer expectations, perceptions, and behavior; customer service communication skills; interacting with customers; the customer-centric company; organization and teamwork in customer service; customer service processes and performance measures; customer service technology; and succeeding in customer service (time and stress management).

Credit recommendation:

Version 1 or 2: In the lower division baccalaureate/associate degree category, 2 semester hours as an elective in Business Administration or Office Administration (12/95) (1/01 revalidation). Version 3: In the lower division baccalaureate/associate degree category, 3 semester hours as an elective in Business Administration, Professional Sales, or Marketing (7/06 revalidation) (10/12 revalidation) (11/17 revalidation).

View on page as single course>>

[ Back to top ]

Regulation of Life Insurance Products, Sales, and Operations (AIRC 421)

Length:

Varies- independent study.

Dates:

November 2014 - Present.

Objectives:

Upon successful completion of course, students will be able to: describe the stages of product development and identify stages when an insurer must evaluate whether materials comply with state insurance laws and regulations; identify the provisions that insurers are required to include in individual life insurance policies, the optional provisions that insurers may include, and the prohibited provisions that insurers may not include; describe the contract provisions that state insurance laws require all types of individual annunities to contain; describe the legal relationship between a principal and an agent and the terms commonly included in insurance agency agreements; explain the requirements that state unfair trade practices regulation place on insurers and insurance producers and give examples of activities that are considered to be unfair trade practices; identify the types of materials that are considered to be advertisements for state regulatory purposes; describe the state regulatory requirements that insurers must meet concerning the privacy of consumer information; distinguish between assumption reinsurance and indemnity reinsurance; describe the market analysis process; describe the process state insurance departments use to report market conduct examinations and the actions they may take when an examination report indicates violations.

Instruction:

This is an online interactive course that explains state and federal regulation of life insurance and annuity product design. The course also describes the regulation of life insurance operation, including underwriting, claims, reinsurance, market analysis, and examinations.

Credit recommendation:

In the upper division baccalaureate degree category, 3 semester hours in Business Administration, Business Law, or Insurance (11/14) (3/20 revalidation).

View on page as single course>>

[ Back to top ]

Regulatory Environment for Life Insurance (AIRC 411)

Length:

Varies-independent study.

Dates:

November 2014 - Present.

Objectives:

Upon successful completion of course, students will be able to: explain the importance of the compliance function in a life insurance company and distinguish between state and federal regulation of the life insurance industry; describe the impact of regulations such as the McCarran-Ferguson Act, Gramm-Leach-Bliley, and various anti-trust initiatives have on insurance regulation; distinguish among the roles of the legislative, executive, and judicial branches of state government in regulating insurance; explain the basic economic concepts that underlie U.S. antitrust laws, the types of activities prohibited by federal antitrust laws, and the roles of the Department of Justice and Federal Trade Commission in enforcing antitrust laws; identify the types of annuity and life insurance products classified as securities and thus subject to federal securities regulation, as well as the registration requirements federal securities laws place on security products and their issuers; describe the requirements that FINRA imposes on registered members regarding suitability, advertising, compliance inspections, and dispute resolution; explain the federal tax treatment of individual life insurance policies, including policy dividends, policy loans, policy surrenders, and policy death benefits; describe the federal tax treatment of individual annuities, including annuity premiums and surrenders; and an immediate annuity, a deferred annuity, a variable annuity, and a fixed annuity; describe the regulatory requirements imposed on an insurer’s reserves, investments, capital, and surplus, and explain how enterprise risk management (ERM) helps insurers assess and control risks; and describe the tools available to state insurance departments to monitor the solvency of insurers and actions state insurance departments may take when an insurer becomes financially impaired.

Instruction:

This is an online interactive course that discusses the compliance function in a life insurance company and how state and federal governments regulate life insurance companies operating in the United States.

Credit recommendation:

In the upper division baccalaureate degree category, 3 semester hours in Business Administration, Business Law, or Insurance (11/14) (3/20 revalidation).

View on page as single course>>

[ Back to top ]

Reinsurance Administration (ARA 440)

(Principles of Reinsurance)

Length:

Varies-independent study.

Dates:

November 2000 - Present.

Objectives:

Upon successful completion of the course, students will be able to: describe the functions of reinsurance; identify relevant laws and regulations; distinguish among the various forms of reinsurance; describe reinsurance administration staff's interactions with other functional areas of the insurer organization; explain the typical provisions included in a reinsurance treaty; and explain how the parties to a reinsurance treaty assign risk, establish and monitor retention limits, and ensure quality control.

Instruction:

Major topics include: the nature, purpose, and forms of reinsurance; regulation of reinsurance; reinsurance activities, staff, and systems; coverage, financial arrangements, and administrative procedures of reinsurance treaties; managing retention limits, new and inforce business, and terminations; and quality control.

Credit recommendation:

In the upper division baccalaureate degree category, 2 semester hours as an elective in Business Administration or Insurance (1/01) (7/06 revalidation) (10/12 revalidation) (11/17 revalidation).

View on page as single course>>

[ Back to top ]