Overview
Entering the world of life insurance and annuities can be a daunting experience. The vast array of complex products, functions, and terminology can be difficult to understand — let alone master. Industry professionals need a broad understanding of life insurance and annuities and a proven way to quickly assimilate industry knowledge.
That is why we’ve created Insurance Immersion.
Insurance Immersion is an instructor-led, activity based program that provides the essential knowledge and tools necessary for success. Designed by LOMA and highly-respected insurance professionals specifically for the life insurance industry, this innovative immersion approach offers several key benefits:
- It’s effective. In a lively and highly participatory learning process, participants live and breathe insurance.
- It's fast. Participants accelerate their transition to the industry and make positive contributions quickly and effectively.
- It’s comprehensive. The program’s instructors are subject matter experts highly respected for their real-world experience and industry knowledge.
Sample Agenda
Day One: 8:30 a.m. – 5:00 p.m.
Welcome and Industry Overview
- Introduction to Insurance Immersion
- The Financial Services Industry
- Types of Insurers and Products
- Public Perceptions
- Regulation
- Compliance
- Reinsurance
- Solvency and Profitability
Life Insurance and Wealth Products
- Needs Met by Life Insurance
- Life Insurance Marketplace Shifts
- Term Life Insurance Products
- Cash Value/Permanent Life Insurance Products
- Supplemental Benefits and Policy Features
- Product Distribution
- Living Benefit Products
- Wealth Products
- Annuities and Payout Options
- Segregated Funds
- Pricing Life Insurance
- Life Insurance Product Profitability
Day Two: 8:30 a.m. – 5:00 p.m.
Insurance Company Operations
- Sales and Service Process
- Capital Needs Analysis
- Regulation
- Compliance
- Market Conduct
- Essential Operational Functions and Areas
- New Business
- Underwriting
- Customer Service
- Claims
- Operational Performance and Efficiencies
Day Three: 8:30 a.m. – 12:00 p.m.
Finance and Risk Management
- Solvency and Profitability
- Cash Flow
- Required Financial Statements
- Capital Requirements
- Risk Management and Accountability
- Accounting Standards in Canada
- Legislation and Compliance Requirements
- Regulatory Agencies
- Regulatory Requirements and Guidelines