Service Turnaround Times Survey — North America
For Individual Life Insurance and Annuities
IMPORTANT INFORMATION ABOUT THE 2016 SURVEY:
For 2016, LOMA will be taking this time to update the Service Turnaround Times Survey questionnaires for both Individual Life Insurance and Individual Annuity to make sure that it remains relevant and continues to meet the needs of our members. We will also be evaluating the methods that we use to collect the data and report the results back to our participants to make it more user-friendly. The updated survey will resume in 2017.
We need your input! For the survey questionnaire updates, we are seeking volunteers from our member companies to provide input on the questions that will be on the new version of the surveys. Please click here if you or someone else from your company would like to be contacted with additional information about providing input on the survey questionnaire updates.
2015 survey results now available for purchase!
2015 Survey Participants
By identifying strengths and weaknesses in your organization, you can focus your resources where they will make the greatest impact. The LOMA Life Insurance and Annuity Service Turnaround Times Survey reports are valuable tools in comparing your organization's performance to that of other companies. The reports provide valuable service time information around various new business and policyowner service functions, and can help guide you in setting internal benchmarks and performance standards.
The surveys also include a special section on NIGO business, placement rates for the life survey and Electronic Application (E-App) usage for the life and annuity surveys.
In 2015, 25 companies participated in the Life Survey and 13 companies participated in the Annuity Survey.
Companies participating in the Life Insurance Service Turnaround Times Survey submitted separate service times for the following types of individual life insurance:
- Whole Life
- Term Life
- Universal Life
- Variable Life
- Variable Universal Life
Companies participating in the Annuity Service Turnaround Times Survey submitted separate service times for the following types of individual annuities:
- Fixed Annuities
- Variable Annuities
- Indexed Annuities
Purchase the Survey Reports
Single Survey: Life or Annuity
LOMA Member: US $875
Non-member: US $1,175
Both Surveys: Life and Annuity
LOMA Member: US $1,025
Non-member: US $1,325
For more information about the Service Turnaround Times Surveys, please contact:
Angie Norman, ALMI, ACS, CTP
Senior Associate, Insurance Operations