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FLMI

FLMI

Fellow, Life Management Institute

Available in: Chinese (simplified), Chinese (traditional), English, French, Korean


Overview

The Fellow, Life Management Institute (FLMI) program is a 10-course professional development program that provides an industry-specific business education in the context of the insurance and financial services industry. The FLMI teaches advanced insurance and financial concepts to build a deeper understanding of the insurance business. Established in 1932, the FLMI program is the world’s largest university-level education program in insurance and financial services.

The  FLMI program consists of three levels are:

  • Level I (Certificate)
    Provides need-to-know information about insurance products and operations so employees quickly gain confidence, serve the customer effectively, and contribute to company success.
  • Associate, Life Management Institute (ALMI)
    Provides job-relevant knowledge about the core insurance functions and strengthens business and financial acumen.
  • Fellow, Life Management Institute (FLMI)
    Teaches advanced insurance and financial concepts to build a deeper understanding of the insurance business. The five FLMI-level courses cover “big picture” business topics important to insurance professionals and managers. In general, these courses also cover quantitative and financial concepts in greater depth.


    


    Topics

    The FLMI designation covers important topics including:

    • Compliance and Legal
    • Finance and Accounting
    • Institutional Investing
    • Life Insurance
    • Management and Leadership
    • Marketing and Business Acquisition
    • Operations and Administration
    • Product Design and Development

    Courses

    Learners must complete ten required courses to earn the FLMI designation.

    LOMA 280 — Principles of Insurance

    LOMA 280 introduces the principles of insurance, the process of becoming insured, and the policyowner’s contractual rights. The course includes information on the features of individual and group life insurance, health insurance, and annuity products.

    LOMA 281 — Meeting Customer Needs with Insurance and Annuities

    LOMA 281 is an online course that uses a variety of media to teach principles of insurance, insurance products, and the policyowner’s contractual rights. The course describes the features of individual and group life insurance and annuity products, and emphasizes how insurance companies serve customers and meet customer needs through the products they provide.

    LOMA 290 — Insurance Company Operations

    LOMA 290 describes how life insurance companies operate in today’s global environment: 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.

    LOMA 291 — Improving the Bottom Line: Insurance Company Operations

    LOMA 291 is an online course that uses a variety of media to teach operations, functions, and product development basics unique to the insurance organization. In addition, the course will teach that (1) a company’s success depends on its operational efficiency and effectiveness and (2) every employee has a role in ensuring the company’s financial success.

    LOMA 301 — Insurance Administration

    LOMA 301 provides a detailed discussion of the activities of insurance administration for individual and group life coverages, focusing on underwriting, reinsurance, claims, and customer service.

    LOMA 307 — Business and Financial Concepts for Insurance Professionals

    LOMA 307 introduces industry employees to basic financial concepts and terminology and relates these concepts to the business of insurance and company operations and profitability.

    LOMA 311 — Business Law for Financial Services Professionals

    LOMA 311 presents the basic features and principles of the legal environment in which financial services companies around the world operate.

    LOMA 316 — Business Law for Financial Services Professionals (Canada)

    LOMA 316 presents the basic features and principles of the legal environment in which financial services companies in Canada operate.

    LOMA 320 — Insurance Marketing

    LOMA 320 covers marketing principles and the functions of marketing as an integral aspect of the life and health insurance industry.

    LOMA 321 — Marketing in Financial Services

    LOMA 321 is an online interactive course that uses a variety of media to present basic marketing principles and to show how these principles are used in the financial services industry to satisfy customers’ financial needs and to create profitable customer relationships.

    LOMA 330 — Management Principles and Practices

    LOMA 330 introduces management theory and practice. It also discusses the use of decision sciences and statistical tools. This course is available only in French and Korean.

    LOMA 335 — Operational Excellence in Financial Services

    LOMA 335 presents financial services from the perspective of a company’s operations management. This course focuses on practical techniques to accomplish the everyday tasks of providing financial services as efficiently as possible.

    LOMA 357 — Institutional Investing: Principles and Practices

    LOMA 357 provides an understanding of the investment regulatory environment and investing for life insurance companies and similar institutions. It covers investment types, returns, risks, performance, strategies for institutional investors, and fund options for retirement and other products.

    LOMA 361 — Accounting and Financial Reporting in Life Insurance Companies

    LOMA 361 provides a broad exposure to financial and managerial accounting in life insurance companies, including the corporate and regulatory environment in which accounting functions occur.

    LOMA 371 — Risk Management and Product Design for Insurance Companies

    LOMA 371 describes technical product design for life insurance and annuities and the current state of risk management in insurance companies.

    Curriculum

    Level I: CertificateLevel II: ALMI
    Required FLMI courses
    Learners must complete the Level I, ALMI, and Level III courses to earn the FLMI designation.
    Insurance PrinciplesInsurance OperationsInsurance AdministrationBusiness & Financial ConceptsMarketing
    LOMA 280
    or
    LOMA 281
    LOMA 290
    or
    LOMA 291
    LOMA 301LOMA 307LOMA 320
    or
    LOMA 321
    Level I: LOMA awards a personalized certificate to learners upon successful completion of LOMA 280/281 and LOMA 290/291.
    Level III: FLMI
    Required FLMI courses
    Learners must complete the Level I, ALMI, and Level III courses to earn the FLMI designation.
    LawManagementInvestmentsAccountingRisk Management
    & Product Design
    LOMA 311LOMA 335LOMA 357LOMA 361LOMA 371

    Course Credit Notes

    Learners who have credit for the discontinued courses below automatically receive FLMI credit for the applicable course category shown.

    Course categoryDiscontinued course
    Business & Financial ConceptsLOMA 351
    LawLOMA 310, 315, or 316
    ManagementLOMA 330
    InvestmentsLOMA 340 or 356

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