LOMA, (formerly the Life Office Management Association) and LIMRA (formerly Life Insurance Marketing and Research Association) under the umbrella organization LL Global is one of the largest
trade association
A trade association, also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific industry. An industry trade association partic ...
s in the U.S.
insurance industry
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
.
LOMA offers an employee training and development program used by the majority of American
life insurance companies, and by life insurance companies in over 70 countries worldwide. The president and CEO of LL Global is David Levenson.
LOMA administers a series of designation programs. The Fellow, Life Management Institute (FLMI) designation program, awards the FLMI designation to individuals who pass a series of 10 examinations; these insurance-focused examinations cover insurance, accounting, marketing, information systems, finance, law, management, and computers.
Broker
A broker is a person or firm who arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither role should be confu ...
s also use the LOMA educational courses to count towards the
continuing education (CE) requirement needed to maintain their license in good standing with regulators.
LOMA's board of directors is made up of insurance industry chief executive officers, presidents and vice-presidents, lawyers and other industry professionals.
History
The National Life Office Management Association "in the early nineteen thirties was one of the first management societies or trade associations to assign an increasingly prominent role to some kind of selective records preservation in the programs of their annual meetings and in the work projects of their research groups."
LOMA developed a series of merit rating scales for clerical employees based on traits and behavioral elements, published in 1950.
Designations and examinations
, below are some of the designations offered by LOMA, as well as their associated courses/exams.
Customer service
References
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External links
LOMA website
Professional associations based in the United States
Organizations based in Georgia (U.S. state)
Life insurance