Learning Linked to Insurance Industry Performance, LOMA Council TOLD

ATLANTA, GA, December 3 -- An insurer looking for an edge to outperform its peers in areas like revenue growth, earnings growth, and market share may want to take a closer look at its learning and development strategy. According to a new research study by Towers Perrin, organizations need engaged employees to prosper, and one of the keys to producing engaged employees is to provide meaningful learning and development. 

Julie J. Gebauer, managing director of Towers Perrin HR Services, presented the study findings to the fall meeting of the LOMA Education and Training Council. She said the Global Workforce Study confirmed that organizations with engaged employees deliver higher performance and produce better financial results. 

Organizations with high employee engagement had a 3.74 percent higher operating margin and 2.06 percent higher net profit margin than average, the study found. According to Gebauer, one of the ways companies can improve employee engagement, and business performance, is by aligning training and development opportunities with business strategy and by instituting and communicating clearly with employees about training opportunities related to career advancement.

The LOMA Education and Training Council is composed of senior insurance company executives, representing a cross-section of the industry. The council advises LOMA on matters related to learning and development. Council discussion following Gebauer’s presentation indicated strong agreement that the Towers Perrin study confirms the need for insurance companies to invest in educational opportunities for their employees. 

An article about the study, including comments from several members of the Education and Training Council, is featured in the December issue of LOMA’s Resource magazine. The complete article can be read on the LOMA web site, at: http://www.loma.org/res-12-07-learning.asp .

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About LOMA
Established in 1924, with 1,200 plus member companies in over 80 countries, LOMA is committed to a business partnership with its world-wide members in the insurance and financial services industry to improve their management and operations through quality employee development, research, information sharing, and related products and services. To find out more about LOMA and the learning opportunities it offers, visit LOMA’s Web site at www.loma.org .